Tyler Winklevoss and Cameron Winklevoss are the Winklevoss doubles. The two rowers are also Internet entrepreneurs, Olympians, as well as venture capitalists. Who are they and what made them famous?
The Winklevoss Twins: Who Are They?
Their backgrounds include rowing, entrepreneurship, and cryptocurrency. And the founders of the investment firm Winklevoss Capital and the Gemini cryptocurrency company. The twins are sometimes referred to as Winklevii.
If you’ve watched The Social Dilemma, you’ve heard about their conflict with Mark Zuckerberg regarding the conception of Facebook. If you’re a sports fan, you may know that they finished sixth at the Olympics of 2008 in Beijing in the men’s pairs rowing event.
They are also Bitcoin billionaires and crypto pioneers. Investing in cryptocurrency safely for the long course can be learned from their journey.
Winklevoss Twins Bio & Background
Two babies were born on 21st August 1981 to Carol and Howard Winklevoss. The latter is a household name for obvious reasons. At the University of Pennsylvania’s Wharton School, the man taught actuarial science.
Additionally, he founded Winklevoss Consultants and Winklevoss Technologies in addition to writing Pension with Numeric Illustrations. Cameron and Tyler Winklevoss, now known as the Winklevoss brothers, are the names the couple gave their twins. Southampton, New York, was their birthplace, but Greenwich, Connecticut, was where they grew up.
Greenwich Country Day School was their first choice. Following that, they enrolled in Brunswick School so they could study Ancient Greek and Latin. During their junior year, they started the crew program.
They attended Harvard University in 2001. They belonged to both the Porcellian Club and the Hasty Pudding Club while there. Upon graduation, they received B.A. awards.
They studied at Oxford University in 2009. They also attended Christ Church. Cameron and Tyler won an Oxford Blue while rowing in the Blue Boat in the Oxford-Cambridge Boat Race. A year later, they graduated from Said Business School with MBA degrees.
A picture of the Winklevoss twins with a date was once spotted. Cameron’s date was Amanda Salvato, while Tyler’s was Marina Thesis.
How they made their Money
- Facebook compansation (2008):
Zuckerberg settles with the twins for a total of $65 million in stock and cash. He allegedly imitated their design and parts of the code they hired him to write.
- Winklevoss capital in 2012:
Their company gives angel ventures to early-stage corporations and administrators. Currently, it has twenty investments related to crypto in its portfolio, having invested in almost 100 projects.
- Bitcoin transactions (2012 and 2013):
The Winklevoss brothers announced that Winklevoss Capital owns about $11 million in Bitcoin. Based on some reports, they purchased part of their coins for as low as $10 per one.
As of that time, the twins reportedly owned one percent of all Bitcoins in circulation. The price of Bitcoin fell from 180USD to 80USD weekly following that announcement — the beginning of several dips in crypto.
- BitInstant in 2013:
One of the principal American Bitcoin swaps, BitInstant, was launched by Harvard graduates. The previous CEO was convicted of running an unlicensed cash business and sentenced to two years in prison.
- Origin of Gemini in 2014:
Gemini has developed a character as one of the most reliable cryptocurrency exchanges since the pair founded it in 2012. NYSDFS licensed it as one of the first. The fact that only a handful of platforms can operate in New York is significant since the state has some of the most stringent crypto laws in the United States.
- Bitcoin boom in 2017:
Bitcoin reached a peak of more than $18,000 in December. Since then, its rate has increased and decreased, but the Winklevoss twins didn’t trade.
- BlockFi in 2019:
One of the original crypto donors in the United State, BlockFi was invested in by Winklevoss Capital. These days, it operates as a crypto trade with good savings rates.
- Credit cards for crypto (2021):
The brothers are again leading the industry with their crypto credit cards set to launch this year, as Gemini and BlockFi have created waiting lists. You can receive bonuses in Bitcoin and additional digital currencies, and receive trading discounts through these credit cards.
- Bitcoin boom of 2021:
Bitcoin has reached unprecedented levels this year. In January, it was worth $30,000. In March, it was worth more than $60,000. Even though we know they did not sell most of their initial investment, the exact details of what they own are unclear. According to Forbes, the company owns 70,000 Bitcoins and additional digital assets.
Current Net Worth
As of May 6, 2021, Forbes reported that the twins had a combined total worth of $3 billion. According to Forbes, the Winklevoss twins net worth was between $900 million and $1 billion each by February of 2018.
Forbes published a modernized valuation of $1.6 billion each in a February 2021 rundown of 11 Bitcoin billionaires. Forbes reported that they had approximately 70,000 Bitcoins then.
CNBC reported in December of 2017 that the twins got to be the first billionaires of Bitcoin by citing The Telegraph. The price of Bitcoin had just passed the record level of $11,826 for each coin at the time.
The Future of Winklevoss in the Digital Economy
Their vision is both companies will become a global marketplace and portfolio for assets of all kinds, such as property titles, passports, commodities, collectibles, video games, movies, and concert tickets.
NFTs will also be used as collateral for cryptocurrency loans through integration between Gemini and Nifty Gateway. As a result, users could use their digital assets as a source of financing without selling them.
“We see bitcoin as potentially the greatest social network of all.”
“Our basic thesis for bitcoin is that it is better than gold.”
“We have elected to put our money and faith in a mathematical framework that is free of politics and human error.”
“We eat, sleep, breathe bitcoin.”
“Every investor around the world wants to invest in U.S. markets because they’re regulated and they’re licensed. They’re trustworthy; they have confidence. If you take that away, the global economy will take a hit like nothing else. We want to create that for Bitcoin.”
“I think fiat currencies will become digital.”
“If Bitcoin is better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap.”
“We may have been born on third base, but we worked like we were starting from home plate. You know: batter up”
“We dealt with a lot of skepticism early on, when we first spoke about bitcoin.”
“Gox was a pattern of poor operations, poor customer service, poor PR. You can’t just take bitcoin and hide.”
“I remember when people called Facebook a fad.”
“I was attracted to Harvard by the fact that it has a huge community, interesting events, and interesting people. But as soon as you get there you realize that it’s a lot smaller than you expected. It’s a bit disappointing.”
“Cash is going to be killed. It will be nostalgia.”
“You’ll be using digital currency. I think really what will happen is you’ll use a combination of bitcoin, ether, your devices, the ‘Internet of Things.’ We’ve got billions of devices coming online.”
“I remember there was one summer – I think I was 13 years old – that was defined by watching ‘Beavis and Butt-head’ with my friends.”