The Winklevoss twins may have lost A LOT of money on Bitcoin
With Bitcoin crashing, some cryptocurrency HODLers are hurting. That might include the Winklevoss twins.
Tyler and Cameron bought 120,000 bitcoins in late 2012 with money from the $65 million payout from their lawsuit against Facebook.
That's more than $1.32 billion worth of bitcoin at Wednesday evening's value of about $11,000 per bitcoin. That seems like a lot, but just two days ago a bitcoin was worth $14,000.
Here's the chart on Bitcoin since 2012. Up and up and up.
But then this week, it's been down, down, down.
If you do the math, if the twins held onto all of those 120,000 bitcoins, they're down more than $350 million in just a matter of days.
But that seems like nothing if you look at how much they've earned since buying the bitcoins for about $10 a piece back in 2012. Overall, Bloomberg estimated, they've seen their personal fortunes drop 37 percent in the last month.
There's a chance, however, that they're HODLing on tight. Last year, they told the New York Times that they aren't selling their Bitcoin no matter what, saying, "We still think it is probably one of the best investments in the world and will be for the decades to come."
Topics Bitcoin Cryptocurrency
Sasha is a news writer at Mashable's San Francisco office. She's an SF native who went to UC Davis and later received her master's from the UC Berkeley Graduate School of Journalism. She's been reporting out of her hometown over the years at Bay City News (news wire), SFGate (the San Francisco Chronicle website), and even made it out of California to write for the Chicago Tribune. She's been described as a bookworm and a gym rat.
