- Tyler and Cameron Winklevoss regained their “billionaire” status after Bitcoin’s price surge
- The digital currency skyrocketed during the last few months
The Winklevoss brothers have just recovered the billionaire status after the price increase that Bitcoin experienced during the last few days. According to Bloomberg’s Billionaires Index, the net worth of the twin brothers’ has surged to $1.45 billion.
Winklevoss Brothers Recover Their Billionaire Status
At the beginning of the year, they had only $654 million, which shows that their net worth is closely tied to the price of the most popular digital asset. Bitcoin (BTC) has recently moved close to $13,700 and it dropped to $10,800 in 24 hours.
During a conversation with Bloomberg, Qiao Wang, the director of product at crypto startup Messari, commented about the current market situation:
“Confidence is certainly returning. The difference between now and the last time Bitcoin reached $13,000 is that the market is currently far more rational.”
Moreover, the Winklevoss brothers have their own cryptocurrency exchange called Gemini, which allows users to trade and store Bitcoin and other digital assets. Exchanges are generally very profitable for companies and allow users to have access to the crypto market in a very easy way.
Now, their wealth stands at its highest point since March 2018 and soared around 120% from $654 million as of January this year.
Tyler Winklevoss said that they are one of the most regulated crypto platforms in the world. He considers that their platform is also one of the most secure around the world for storing digital assets.
At the same time, the Winklevoss brothers have been involved in different controversies with Facebook’s Mark Zuckerberg regarding the creation of the Facebook social media network. Indeed, Facebook has also recently launched a new digital asset called Libra that aims at improving transfers and helping users without access to financial access to be connected to it.
[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.