Bitcoin Billionaires
| File:Bitcoin Billionaires.jpg First edition | |
| Author | Ben Mezrich |
|---|---|
| Country | United States |
| Language | English |
| Subject | bitcoin, cryptocurrency |
| Genre | Non-fiction |
| Publisher | Flatiron Books |
Publication date | May 21, 2019 |
| Media type | |
| Pages | 288 |
| ISBN | 978-1250217745 |
Bitcoin Billionaires: A True Story of Genius, Betrayal, and Redemption is a 2019 book by Ben Mezrich. A sequel to The Accidental Billionaires, the book traces Cameron and Tyler Winklevoss' journey into the world of cryptocurrency, investing in bitcoin and encountering early adopters Charlie Shrem, Roger Ver, Erik Voorhees, Naval Ravikant and Dan Kaminsky, in the face of mounting scrutiny from government regulators and the financial establishment.[1]
Sources
Mezrich knew the Winklevoss twins from researching The Accidental Billionaires. Initially viewing them as the "bad guys", his perception changed over the course of writing the book and they stayed in touch. In 2017, after reading the New York Times article, How the Winklevoss Twins Found Vindication in a Bitcoin Fortune, Mezrich emailed them and they shared their story with him.[2]
Content
The story begins at the conclusion of the Winklevoss' lawsuit with Mark Zuckerberg. Both parties agree to a settlement, the twins receiving $20 million in cash and $45 million in Facebook stock. Neither is satisfied with the outcome.
The twins found Winklevoss Capital Management, with the goal of investing in startups. After promising meetings, they discover they are considered pariahs. Silicon Valley startups, fearing reprisals from Facebook, don't want to be associated with them.
In summer 2012, during a party in Ibiza, the twins are approached by David Azar, a friend of Charlie Shrem's, who tells them about a new method of online payment with better privacy and transaction speed: bitcoin.
After meeting Shrem in Brooklyn, the twins become the largest investors in his bitcoin exchange, BitInstant. They acquire over $2 million in bitcoin or roughly 1% of all bitcoins in existence. The twins become ambassadors for bitcoin, attempting to reverse stigma due to its association with Silk Road. This culminates in them delivering the keynote at the 2013 Bitcoin conference.
As CEO of BitInstant, Shrem becomes a crypto celebrity, travelling with the twins and giving presentations to potential investors and interviews to media. Shrem is torn between the influence of Roger Ver, another early investor in BitInstant with strong libertarian views, and the twins' insistence to adhere to government regulations. Shrem's work declines as he descends into partying and drugs and he is eventually arrested at JFK airport. The twins are subpoenaed by the United States Attorney for the Southern District of New York, to speak at a public hearing on the future of cryptocurrency.
Parts of the book center on isolated moments related to bitcoin, including describing the lengths the Winklevosses went to securing their bitcoins, described as a "reverse heist", and the 2012–2013 Cypriot financial crisis.
Film adaptation
A film adaptation is in the work from Producer Greg Silverman with input from the Winklevoss twins.[3]
References
- ^ MEZRICH, BEN. "Everything You've Read About Harvard's Winklevoss Twins Is Wrong". Boston Magazine. Retrieved 7 January 2022.
- ^ Popper, Nathaniel. "How the Winklevoss Twins Found Vindication in a Bitcoin Fortune". The New York Times. Retrieved 7 January 2022.
- ^ Hamman, Christopher. "Winklevoss Twins to Assist in Adaptation of 'Bitcoin Billionaires' Book for Film". Coin Speaker. Retrieved 7 January 2022.