Now two of the biggest boosters of the virtual currency, Cameron and Tyler Winklevoss, are trying to firm up support by creating the first regulated Bitcoin exchange for American customers — what they are calling the Nasdaq of Bitcoin.
The brothers, who received $65 million in Facebook shares and cash in 2008 after jousting with its founder, Mark Zuckerberg, have hired engineers from top hedge funds, enlisted a bank and engaged regulators with the aim of opening their exchange — named Gemini, Latin for twins — in the coming months.
The exchange, which the twins have financed themselves, is a risky bet, given that the virtual currency industry has been a target of hackers and has faced existential questions about its legitimacy. But the brothers are betting that the currency will be able to rise again if it follows the same playbook as the more established financial industry.
“Right now we have to build the infrastructure,” Tyler Winklevoss said. “You have to walk before you run.”
While regulators debate the pros and cons of bitcoins, this volatile digital currency inspires the question: What makes money, money?
–
“This time around we are betting on ourselves,” Tyler Winklevoss said.
Jessica Silver-Greenberg contributed reporting.
Subscribe to Dealbook E-Mail and Alerts
Sign up for the DealBook Newsletter, delivered every morning and afternoon, and receive breaking news alerts throughout the day.
Subscribe
Follow
