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The Winklevoss Twins Make their Fortunes from Cryptocurrency Recovery

It is clear that, amidst surrounding circumstances, the twin brothers, who are also referred to as the world’s foremost “Bitcoin billionaires”, are banking their fortunes on a crypto recovery after the fall of TerraUSD. These Bitcoin Billionaires: The Winklevoss twins have projected that Bitcoins will be valued at $500,000 in the next decade.

Thus, the Winklevoss twins are banking on a crypto recovery following the fall of TerraUSD as a result of recession concerns and an increase in interest rates.

This report was released by The Sydney Morning Herald. It was revealed that bitcoin billionaire brothers, Cameron and Tyler, have invested their fortunes massively in cryptocurrency start-up companies, ranging from tax facilitators to Slingshot, a trading platform. It was also revealed that these young Bitcoin billionaires have stakes in more than 45 cryptocurrency blockchains and start-ups.

The report further revealed that the Winklevoss twins received capital from venture capitalists in April and made about $US5 billion ($A7.1 billion) in Q1. This appears to be profitable as it cushions the effect of the fall of virtual token coins, Luna and Terra USD.

While bitcoin and ether fell 50% during last year’s peak, venture capital fundraising, US crypto or blockchain firms are on track to fall short of last year’s deal count. In a statement released by Cameron to Bloomberg, he revealed that he and his brother have an unwavering commitment to invest in the coming generation of visionaries, builders, and developers, who can extend the frontiers of so many possibilities.

He also expressed optimism as he stated that they are fully ready to take risks because they are 100% committed to building a better human experience and they are not afraid to think big and fail greatly.

This was surprising, as the news came after the cryptocurrency magnates had lost about 40% of their fortunes, which accounted for more than $US2 billion ($A2.8 billion) each. It was in the early days of this month that Bloomberg revealed that the Winklevoss twins were reportedly slammed, as investors were seeking ways to abandon riskier assets during this season of global economic woes.

Recall that the Winklevoss twins recently founded a crypto-based platform called Gemini, and there were reports that they bought 1% of all Bitcoin in circulation.

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