Ben Mezrich, the author of The Accidental Billionaires, later adapted for film as The Social Network, will be releasing a new book this month – The Bitcoin Billionaires: A True Story of Genius, Betrayal, and Redemption. It gives an account of the rivalry between Mark Zuckerberg and the Winklevoss twins, which sets the twins down a path of investing in Bitcoin, and later, opening the Gemini exchange.
As we know, the Winklevoss twins settled out of court over claims that Zuckerberg stole their idea. However, given the development of Facebook coin, might Zuckerberg have the final say in being the one who brings crypto to the masses?
The Beginnings of Facebook
In 2003, Tyler and Cameron Winklevoss were Harvard undergrads with an idea to help college students find each other online. To help with coding, they hired Mark Zuckerberg, who was a sophomore at the time.
But unbeknown to the twins, Zuckerberg was secretly working on another social network. Records show Zuckerberg registered the domain name thefacebook.com on January 11, 2004, a period during the preliminary development of ConnectU.
The twin sued Zuckerberg in 2008. The matter settled out of court for $65 million, which comprised $20 million cash and the rest in Facebook stock, which they used to invest in up and coming projects as well as in Bitcoin, which was trading at around $10 at the time.
— The Telegraph (@Telegraph) April 12, 2013
Since then, Facebook has gone from strength to strength. According to Zephoria, there are currently over 2.4 billion active monthly users on the platform. Not only that, but with the acquisition of Instagram, with 1 billion users, and WhatsApp, with 1.5 billion users, the Facebook empire has grown into a formidable force.