By CCN Markets: Tyler and Cameron Winklevoss shared the rundown on “CBS Sunday Morning” alongside Father’s Day, Tim Allen and the latest edition of Toy Story as well as a look back at the Transcontinental Railroad. The twins were featured for their billionaire status, which they achieved through their early investment in bitcoin.
The Winklevii were astute enough to invest in bitcoin when it was trading in the high-single digits. Today the bitcoin price is hovering above $9,000. They explained on CBS their “decision to buy 1% of all bitcoins in the world,” saying:
“Some people might dive off the diving board. I think, in this case, we took a cannonball off the diving board.”
“Our thesis at the time was bitcoin’s going to disrupt gold. And gold has a market cap of $7 trillion today. So if bitcoin’s going to be worth $7 trillion or more, this seems like a cheap asset. It was a complete Wild West.”
Cameron explained how he turned to his brother Tyler and said:
“This is either next big thing or total BS.”
Bitcoin has repeatedly proven itself to be the former.
Winklevoss Twins vs. Mark Zuckerberg
Incidentally, their status in crypto might not have been possible were it not for a settlement they received from their chief rival, Facebook CEO Mark Zuckerberg. It’s been widely publicized that Zuckerberg is working on his own cryptocurrency and has lassoed in the likes of Visa, Mastercard, and Uber for the reportedly $1 billion effort. While the Winklevoss twins don’t appear threatened by it, they also didn’t give any credence to the theory that they are part of the venture.