The Winklevoss Twins Lost Almost $1 Billion in Recent Bitcoin Price Drop
Without a doubt, bitcoin investors did not have a very happy week. The most recent price fall experienced by bitcoin has definitely left many investors with some losses. And in this category can be included the Winklevoss twins, who actually revealed that they lost no less than $1 billion in this most recent price drop suffered on the cryptocurrency market.
The Winklevoss brothers, Tyler and Cameron, are known to be some of the most important investors in bitcoin.
The twins have an estimated amount of 120,000 bitcoins, thus, we can easily assume that the latest price drop suffered by bitcoin seriously impacted them. In fact, in the past month, the value of the cryptocurrencies owned by the Winklevoss brothers has decreased by $922 million.
Of course, the volatility and the fluctuation of the cryptocurrency market has impacted the estimated value of the Winklevoss' bitcoins fortune. In this context, it is safe to say that the biggest holders of bitcoins were the ones who were mostly impacted.
The Winklevoss brothers invested $11 million in bitcoin
The Winklevoss brothers are definitely the best known bitcoin billionaires. They first made their investment in the cryptocurrency back in 2014.
At that time Tyler and Cameron Winklevoss invested $11 million in bitcoin. And the twins have chosen to not sale any of their owned bitcoins. It has actually been claimed that until now they have sold none.
The twins are surely expecting to see how much they can get from this investment. The Winklevoss brothers purchased bitcoins, most likely, at the price of around $120. Now, the price of bitcoin is somewhere around $12,000, but last year the cryptocurrency even managed to grow close to $19,000.
The bitcoin billionaires might not only be focused on watching their bitcoin investment growing. Actually, they also tried to launch an ETF for bitcoin, but their plan failed when the US Securities and Exchange Commission rejected it. It remains to be seen if the Winklevoss twins also have other plans for the cryptocurrency market.