Winklevoss Brothers Lose Billionaire Status After The Bitcoin Meltdown

International News, News

The sudden drop in the Bitcoin prices is not only affecting the general masses, millionaires and billionaires are affected alike. Twin brothers Cameron and Tyler Winklevoss, who became billionaires after prices of Bitcoin and other digital currencies soared, just saw their net worth being slashed by a whopping 37%. The brothers correctively lost 886 million USD and are not featured on the Bloomberg Billionaire Index anymore.

Winklevoss Brothers

Bitcoin has seen the biggest plunge in a long time since it started soaring in value in late 2017. The coin lost about 10% of its value rapidly as it came below the 10,000 USD threshold. It has rebounded back to 10,768 USD but is far from attaining its peak price of 19,511 USD on 18th December. Experts indicate that the value of the coin was overtly hyped and would soon come down but the Winklevoss brothers remain optimistic. Cameron Winklevoss said in an interview that he is expecting Bitcoin to appreciate 10 to 20 times its current market value.

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Soumyajit DasMazumdar
Soumyajit is an SAP technical consultant with a flair for writing. An avid blog reader, he started off with a free WordPress blog and slowly moved to his own personal news and blog site. Apart from writing he loves reading books, playing table tennis and long bike trips. He is currently trying to learn playing guitar and failing miserably.

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