{"id":107860,"date":"2021-01-08T16:15:22","date_gmt":"2021-01-08T16:15:22","guid":{"rendered":"https:\/\/precoinnews.com\/?p=107860"},"modified":"2021-01-08T16:15:22","modified_gmt":"2021-01-08T16:15:22","slug":"bitcoin-overtakes-facebook-makes-sense-says-winklevoss","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-overtakes-facebook-makes-sense-says-winklevoss\/","title":{"rendered":"Bitcoin Overtakes Facebook, “Makes Sense” Says Winklevoss"},"content":{"rendered":"
“Makes sense that a money network would be more valuable than a social network,” Cameron Winklevoss said in what must be a remarkable moment for the twins.<\/p>\n
After winning $65 million from suing Facebook, they bought $11 million worth of bitcoin in 2013.<\/p>\n
They were laughed at back then, but the estimated 100,000 bitcoin is now worth more than $4 billion dollars as the twins are vindicated in the end with bitcoin surpassing Facebook’s market cap.<\/p>\n
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Facebook’s market cap is currently $765 billion while bitcoin has risen to $768 billion with the money network overtaking for the first time the social network.<\/p>\n
Mark Zuckerberg for his part has been trying to get involved in crypto since 2018, laying out in 2020 a vision of a shop in every instagram transactable through crypto.<\/p>\n
His Libra project however has attracted intense political scrutiny, with it unclear whether it will be allowed to launch.<\/p>\n
The twins on the other hand joined the bitcoin crowd instead of trying to create their own, and now seven years on, they won more than just a lawsuit.<\/p>\n