Winklevoss twins benefit from Tesla’s Bitcoin entry

The Bitcoin rally set in motion by PayPal and Elon Musk has benefited some of the currency's biggest whales.

The Winklevoss twins, known for their involvement in Facebook and staunch proponents of crypto, blockchain and Bitcoin, now sit on top of a digital fortune worth close to $3.6bn as the currency is valued at $46,373.

Tyler and Cameron Winklevoss, who are behind the Gemini crypto exchange project, have not been too open about their Bitcoin investment, but they have been happy to speculate about it, including in an old New York Times interview when they said that their first investment in Bitcoin was back in 2013 when the coin was worth $141 apiece and they invested $11m.

At current valuation, that puts their Bitcoin wealth at close to $3.3bn. Yet, the Winklevoss twins would not have enjoyed the sudden spike was it not for Tesla's decision to purchase $1.5bn worth of Bitcoin and hint at allowing customers to purchase cars in BTC.

Bitcoin's price began surging late in 2020, especially after PayPal announced that it would allow crypto transactions in the US first and later in selected jurisdictions around the world.

Bitcoin's investments as well as recreational use have skyrocketed. Casino sites such as Bitcasino.io, 1xBit and FortuneJack are now all offering generous bonuses reaching up to 7 BTC or over $320,000 in welcome funds for anyone who wishes to play.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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