Talk about a hot commodity. The Winklevoss twins just pulled off one of the most impressive IPO launches the crypto world has seen in ages. Gemini managed to raise $425 million on Thursday night, and honestly, they could have probably raised even more if they wanted to.
Here’s the crazy part – investors were so hungry for Gemini shares that demand was over 20 times what they had available. Think about that for a second. For every share they were selling, twenty people wanted it. The bankers literally had to stop taking orders because things got too wild.
They ended up pricing each share at $28, which was actually higher than their most recent estimate of $24 to $26. And that estimate was already bumped up from their original $17 to $19 range. When you keep having to raise your prices because people want in so badly, you know you’ve got something good.
What’s really smart is how they structured this whole thing. Instead of just grabbing every dollar they could, they capped the raise at $425 million even though they could have gone to $433 million. Sometimes leaving a little money on the table actually makes you look better in the long run.
The Winklevoss brothers aren’t giving up control either – they’re keeping about 94.5% of the voting power.
Conclusion
The Gemini IPO proved the Winklevoss twins’ sharp strategy and market appeal. By capping funds, boosting demand, and retaining control, they’ve positioned Gemini as a dominant force in crypto’s next growth chapter.
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