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Winklevoss Twins Story ‘Bitcoin Billionaires’ Out Next Year, Movie Possibly to Follow

Publisher Little Brown is to release a biography about crypto twins Cameron and Tyler Winklevoss called “Bitcoin Billionaires”. The book, which is to be published both in the UK and US next year, has been bought by Richard Beswick, Little Brown’s publishing director.

The brothers, renowned in sporting circles as a rowing pair who competed for the US in the 2008 Beijing Olympics, are perhaps better known for suing Mark Zuckerberg in 2014 for supposedly stealing their Uconnect social networking concept which went on to become Facebook. The case netted them USD 65 million.

The book will follow their various travails through the Silk Road website, their dealings with the SEC and the Facebook affair. According to a spokesman from the publishing house, their dubious connection with Zuckerberg damaged their potential to be investable, as investors were concerned about “alienating their nemesis”. Little Brown promises it will take readers on “a wild and surprising ride while shining a bright light on an economic event that continues to baffle the average reader”.

Once, as Little Brown pointed out, a chance encounter in Ibiza drove them to realize that Facebook had become “establishment”, they moved on very quickly:

“If they wanted to be disrupters and make a true killing they needed to get in on the ground floor of a brand new idea: cryptocurrency. They started buying Bitcoin when it was USD 6 a coin – it is now trading at over USD 7,000 a coin.”

As a result, on 26 November 2017, the twins became the first Bitcoin billionaires.

This isn’t the first time that the Winklevoss twins have featured in a book by Ben Mezrich. It was his 2009 book, The Accidental Billionaires, which was adapted into the Academy Award Winning movie The Social Network with actor Armie Hammer playing both twins.

There is a rumor circulating that the book is already being considered for a movie deal after a report by the New York Post. The twins have also appeared on this year’s “40 under 40” fintech movers and shakers.

 

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DealBook – Winklevoss Bitcoin Trust

DealBook – Winklevoss Bitcoin Trust:

NY Times financial reporters Nathaniel Popper (@NathanielPopper) and Peter Lattman (@PeterLattman) broke the news that the Cameron and Tyler Winkelvoss have filed with the SEC a proposal to create a Bitcoin exchange-traded fund.  Excerpts:

“The plan involves an exchange-traded fund, which usually tracks a basket of stocks or a commodity, but in this case would hold only bitcoins.”

“The Winklevoss Bitcoin Trust could send digital money from the realm of computer programmers, Internet entrepreneurs and a small circle of professional investors like themselves into the hands of retail investors — virtually anyone with a brokerage account.”

“‘The trust brings bitcoin to Main Street and mainstream investors to bitcoin,’ said Tyler Winklevoss, co-founder of Math-Based Asset Services, which would operate the proposed fund.”

“Their proposal has the advantage of coming from the desk of Kathleen Moriarty [who had] a leading role in the creation of the first exchange-traded fund and popular gold- and silver-backed E.T.F.’s.”

“The Winklevosses [previously] went public with their own bitcoin hoard, amounting to about 1 percent of all outstanding coins, or about $10 million.”

“An exchange-traded fund would make it significantly easier to gain exposure to bitcoins, just as commodities-based funds have made investing in gold, silver and other precious metals more accessible.”

“The Winklevoss fund would buy one bitcoin for every five shares, making the value of a single share worth about a fifth of a single bitcoin.”

“‘Digital currencies are not going away,’ said Carol Van Cleef, the head of law firm Patton Boggs’s emerging-payments practice.”

 – http://nyti.ms/1cK00Ys
 – http://1.usa.gov/13i07w0 (Proposal / S-1 Registration Statement)
 – http://bitcointalk.org/index.php?topic=248013.0 (Further discussion)

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