scorecard
  1. Home
  2. tech
  3. The Winklevoss Twins Say They Own 1% Of All Bitcoins

The Winklevoss Twins Say They Own 1% Of All Bitcoins

The Winklevoss Twins Say They Own 1% Of All Bitcoins

winklevoss 2It's all about Bitcoins lately, and the Winklevoss twins $4 in existence, Nathaniel Popper and Peter Lattman of the New York Times report.

"An array of speculators have now bid up the price of the Bitcoin to the point where the outstanding supply of the digital money was worth $1.3 billion at last count. The Winklevii — as they are popularly known — say they own nearly 1 percent of that, or some $11 million."

There are 10.8 million bitcoins out there, so that means the Winklevii own about 108,000 of them.

With the value of Bitcoins $4 since yesterday, it seems like a tough time to own that much of the popular digital currency. (On Wednesday morning it surged to $265, and then crashed to $105 before stabilizing at around $150.)

On the other hand, the Times notes that the 31-year old identical twins began buying up Bitcoins last summer. As of $4, the highest value Bitcoin reached was $15.40, so they are still sitting pretty.

Right now Mt. Gox, the world's largest Bitcoin exchange, has $4 in the virtual currency until 10 PM ET "to allow the market to cooldown following the drop in price."

READ MORE ARTICLES ON



Popular Right Now



Advertisement