Thread by @DCLBlogger

How the Winklevoss Twins took a ~$65M Facebook settlement payout and turned it into Billions with #Bitcoin

@tylerwinklevoss & @winklevoss

Thread time 👇

1/ Identical twins Cameron & Tyler Winklevoss were born in 1981, went to @Harvard and co-founded 'ConnectU' with Divya Narendra in 2002.

The twins sued Facebook alleging Mark Zuckerberg stole part of their code during his brief work with ConnectU.

2/ In 2008, Facebook reached a settlement of $65M, ($20M in cash + Over 1.2M Facebook Shares), with the twins.

After the IPO, Facebook Shares went bananas and their stack went on to be worth almost $500M 😱.

It gets better.

3/ They go to Silicon Valley to invest in companies.

No one takes their money as the end game for most start-ups was to sell to Facebook.

And having The Winklevoss twins on your books is probably an insta-no.

4/ The Winklevoss twins go chill in Ibiza, learn about Bitcoin from a passerby, read the white paper and get hooked.

In 2013, they buy 200,000 Bitcoin at $7 a piece.

~1% of supply.

Damnnnnn

5/ In 2017 that ~$12-$15M investment hits $1B.

Later goes on to hit $4B.

Currently sitting pretty at around $2.5B @ $12k per Bitcoin.

6/ No idea if they sold any yet.

But looks like they're still hodling according to this interview with @barstoolsports

7/ They currently run @Gemini #cryptocurrency exchange.

AND are the parent company of @niftygateway who bring exclusive art work from popular artists on chain.

Drops every Thursday 🔥

#NFTs

8/ The amazing stories behind #Bitcoin and the relentless pursuit in exploring new tech makes this space amazing.

No doubt there will be plenty more stories like this in the coming years 🚀

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References,

Mention of holdings,


Writer of 'Accidental Billionaires' @benmezrich



Wikipedia
en.m.wikipedia.org/wiki/Winklevos…