The Winklevoss Twins Say They Own 1% Of All Bitcoins

Business Insider

It's all about Bitcoins lately, and the Winklevoss twins claim to own 1% of all Bitcoins in existence, Nathaniel Popper and Peter Lattman of the New York Times report.

"An array of speculators have now bid up the price of the Bitcoin to the point where the outstanding supply of the digital money was worth $1.3 billion at last count. The Winklevii — as they are popularly known — say they own nearly 1 percent of that, or some $11 million."

There are 10.8 million bitcoins out there, so that means the  Winklevii  own about 108,000 of them.

With the value of Bitcoins crashing since yesterday, it seems like a tough time to own that much of the popular digital currency. (On Wednesday morning it surged to $265, and then crashed to $105 before stabilizing at  around $150.)

On the other hand, the Times notes that the 31-year old identical twins began buying up Bitcoins last summer. As of August 2012, the highest value Bitcoin reached was $15.40, so they are still sitting pretty.

Right now Mt. Gox, the world's largest Bitcoin exchange, has halted trading in the virtual currency until 10 PM ET "to allow the market to cooldown following the drop in price."



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