KXIP vs KKR Live Score

Many people will be wishing they invested money in Bitcoin a few years ago. Even JP Morgan's senior analyst Tom Lee has confirmed the optimistic estimates it wants to climb within five years to $ 25,000, endorsing his undisputed commercial success.

With the surge, the digital currency may also have produced its first billionaires, according to the Telegraph: Cameron and Tyler Winklevoss, who are best known for suing Facebook founder Mark Zuckerberg in 2008 over the claim that he stole the idea for the social network from them. And just last week it returned them 10,000%!

The $11m investment, however, has since ballooned by nearly 10,000 per cent after last week's price surge making it the first billion-dollar return made by a cryptocurrency investor.

It has been a rollercoaster ride for the digital currency in the past week.

The cryptocurrency was first introduced in 2009, and the Winklevoss twins have been heavy backers of crypto since their initial investment. The digital currency hit a new high of $11,826.76 a coin on Sunday, according to data from Markets Insider, surpassing its previous high of about $11,300.

The brothers have reportedly not sold a single one of their Bitcoins, sitting on them and watching them accrue value. "Still, the twins" early comments about bitcoin appear to have been prescient.

The big question now is if there's any more room left for Bitcoin to grow.

In August, Tyler Winklevoss stated that Gemini and his partners are focused on providing liquidity and a trading platform for institutional and retail investors. This is the clearest indication that professional investors are looking at Bitcoin as a serious investment asset. But Novogratz said Tuesday at CoinDesk's Consensus Invest conference that cryptocurrencies like bitcoin are "going to be the biggest bubble of our lifetimes".

Whether this will affect how the coin is traded remains to be seen. After all, we already have our first Bitcoin billionaires.


COMMENTS