Winklevoss Twins Own 1 Percent of All Bitcoins: $1.3 Billion

The virtual currency Bitcoin may have lost nearly 75 percent of its value in recent days, remarkably bringing it back to last month’s levels, but that hasn’t stopped the Winklevoss twins from owning 1 percent of Bitcoin, equivalent to $1.3 billion.

Depending on how you look at things, this can be either a great thing or a curse.  The Winklevoss twins are best known for suing Facebook for $140 million, claiming it stole their ConnectU idea to create the vast social network.

Both twins began buying Bitcoins this past summer when the currency’s value was still in the single digits. 

“People say it's a Ponzi scheme, it’s a bubble,” said Cameron Winklevoss. “People really don’t want to take it seriously. At some point that narrative will shift to ‘virtual currencies are here to stay.’ We’re in the early days.”

Online gambling operators are in the process of assessing the viability of offering Bitcoins.  Until now only a handful of niche companies within the industry offer the currency as an option for customers. 

- Aaron Goldstein, Gambling911.com