Mining Note:
Dream Clients
23 December 2013

¶ A funny story: when we picked up the Business Section of the Times early this afternoon, it was pristine, untouched. In spite of this, the lady of the house claimed to have read Nick Bilton’s piece about Bitcoin. Dubious, we recited the Tyler Winklevoss quote. “Yes, yes,” she said, “I read that somewhere.” We were just about to conclude that Mr Winklevoss speaks in stock phrases when his attorney remembered. “He read it to me,” she said. “He wanted to be sure that it was okay.”

“People talk about the volatility with surprise, but it’s exactly what you’d expect from a new global asset class whose regulatory landscape is still developing,” Tyler Winklevoss told me. He and his twin brother, Cameron — famous for their involvement in Facebook — have invested heavily in Bitcoin. By some estimates, they own 1 percent of the market.

“We have never sold a single Bitcoin — we started buying in the high single digits and we’re in it for the long haul,” Mr. Winklevoss said. “We don’t look at it in terms of day-to-day. We look at in terms of years.”

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