$6 Billion Bitcoin Fortune, And How Can You Do This?
If you
watched the Social Network movie released way back in 2010, you would possibly remember the twins Cameron
and Tyler Winklevoss, played by Armie
Hammer. They may be known for disputing and losing
ownership of Facebook against Mark
Zuckerberg. But the reality is, they now
own a multi-million dollar empire, all
due to Bitcoin and NFTs. But how
exactly did the Winklevoss twins amass a
$6 billion Bitcoin fortune? Well, that's exactly what I
discuss here today, Bitcoin
was just making headlines back within the day, and not many folks knew about cryptocurrency, Blockchain
technology, or simply Bitcoin. Both
Cameron and Tyler Winklevoss invested about $10
million into something nobody would have
invested back within the day, which was Bitcoin. Back then,
Bitcoin costed about $8 per coin, which
is much but what it costs today. According
to Forbes, that $10 million investment
is now $6
billion. But the Winklevoss brothers
didn't stop there. In 2012,
the twins founded the Family Office
Winklevoss Capital Management to undertake venture
investments, and both Cameron and Tyler
invested in a minimum of 25 digital assets startups. One of the
foremost recent investments was in Blockfi
which happens to be a Bitcoin lending giant, and the
company raised about $350 million
dollars in investments which
is now valued at quite $3 billion. So
you can not deny the actual fact that these
two brothers know lots more about
cryptocurrencies than most of the people.In May
2013, the Twins invested $1.5 million in
BitInstant which happens to be a
Brooklyn-based exchange that exchanges convert
dollars for bitcoins in minutes for a fee. The
operations of the platform represented about
30 percent of Bitcoin purchases way back in the day.
But again things weren't that great
because most of those purchases weren't legal and the
site was forced to pack up later that
year and therefore, the CEO, Charlie Shrem was
arrested and sent to prison for a year.
Both the twins did suffer rejection from the
geographical region community. But later, the
identical twins became owners of two companies that gave
them billions of dollars in profit,
which are Gemini and Nifty gateway. The Gemini
trust was founded way back in 2014 to
allow customers to shop for, sell, and store digital assets.
Two years later it became the very first
authorized exchange to shop for and sell Ethereum which
happens to be this second most popular
digital currency just behind Bitcoin. Today
Gemini offers exchange and storage for more
than 33 cryptocurrencies, and just in 2020, there was a
trading volume of $29 billion. Gemini also
provides its customers Bitcoin rewards, credit cards, and
savings accounts that pay about seven percentage interest on their crypto deposits.We know
that NFTs are one amongst the foremost
talked-about assets within the cryptocurrency world, and in
November 2019, Gemini trust bought Nifty
Gateway, which happens to be a digital art auction platform
within the variety of NFTs or non-fungible
tokens. Today Nifty Gateway is the world's most
exclusive digital art platform thanks to its careful selection of artists. The future plans of
the Winklevoss twins are to integrate
Gemini exchange and Nifty Gateway into one product
where NFTs may be used as collateral for cryptocurrency loans. This could then allow users to
leverage digital assets for financing without
actually selling them, which is great news. Now let's
answer the larger question. are you able to
become a Bitcoin billionaire or a cryptocurrency billionaire
in general? Well, if you probably did
invested in Bitcoin, for instance ten years ago then
probably yes. But there are so many
other cryptocurrency projects that are
making it big within the market, so you don't have to have a fear of missing out. So maybe it's
possible, but none of it may be predicted. If it absolutely was possible every
single one in all us would have invested in
bitcoin in 2012, just like the Winklevoss twins.
And a
final note, this article isn't meant to
be a financial advice. Any
investments you create with cryptocurrencies
must be made at your own risk because you recognize that
they're extremely volatile. So if you play your cards right, you may be ready to make plenty of money
with crypto, and that we would like to see
you become a billionaire with cryptocurrencies. And that's
a wrap for today's article. What does one
think about this $6 billion Bitcoin fortune? Will you be
ready to replicate something similar? Do let
us know within the comments section below because we would like
to hear from y'all.
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