We reported two days ago how the value of Bitcoin is crashing like a comet and if you think people suffered a huge loss, no one had it worse than Tyler and Cameron Winklevoss. The twins are mostly known for failing to gain control of Facebook after alleging it had been appropriated from them. Ever since the value of Bitcoin fell by double-digits percent, the two have seen the value of their Bitcoin stash fall by $922 million. 

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The two brothers held an estimated 120,000 bitcoins in their wallet and it was clear that they would suffer the most in the value fluctuations of the cryptocurrency. They might have lost a lot of money due to the recent Bitcoin meltdown, they're still very much rich and own Bitcoins that's worth a billion dollars. 

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The Winklevoss brothers made an $11 million investment in Bitcoin four years ago and reportedly have not sold a single one ever since. They bought the cryptocurrency when it was trading for $120 and as of today, one Bitcoin is still worth $11,854. That roughly converts to $1.4 billion which is still a lot when compared to the initial investment. They funded the investment by winning $65 million in a lawsuit against Facebook.   

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In 2017, the twins tried to create an exchange-traded fund (ECF) which would allow institutions to invest in the cryptocurrency. Much to their dismay, it was rejected by U.S. Securities and Exchange Commission alluding to the possibility of fraud. 

Not too long ago, the Winklevoss twins were the first billionaires thanks to their investment in Bitcoin. It's surprising to see that the value of Bitcoin has dropped by a great deal that it caused the twins to lose $922 million in just a little over a month. Bitcoin is believed to be the strongest and most stable of all cryptocurrency. However, the price has been crashing due to involvement by different Governments from around the world. The price has been falling due to regulations from Germany, an increasing involvement by USA's SEC and stricter laws formulated by South Korea. 

Source: Fortune