The CEO and Co-founder of Gemini Tyler Winklevoss regret his investment of more than 300 Bitcoins for a ticket to space. While the price of Bitcoin was $800 at that time, and the value of the ticket was about $250,000 from the Virgin Galactic of Richard Branson.
Meanwhile, Winklevoss has regarded his move “a Bitcoin pizza moment,” as the price of the Bitcoin has seen a rise. Richard Branson’s Virgin Galactic is an entity that specializes in commercial space flights under the arena of Virgin Group. The entity aims at selling the tickets for flights in space for $250,000. Interestingly, despite the huge ticket price, the website of Virgin Group shows that all available tickets have been sold to future astronauts.
Moreover, Winklevoss twins, Cameron and Tyler made the news in 2014 on their purchasing of tickets and completion of transactions by using Bitcoins. Consequently, they had transferred 312.5 BTC each and BTC back then was trading at $800.
Tyler wrote in his blog and announced that both Bitcoin and commercial space flight could be strong technological game-changers.
“It is in this vein that Cameron and I contemplate our tickets into space – as seed capital supporting a new technology that may forever change the way we travel, purchased with a new technology that may forever change the way we transact.”
It is worth mentioning that Richard Branson’s Virgin Galactic has not completed any flight so far. However, the entity plans to take a start with 16 flights at the end of 2020 and aims to increase the number to 270 by 2023.
Since the start of the transaction, Bitcoin has seen a significant increase in its price and now trades at $9,600 that signifies a gain of 1100% in 6 years. The investment value for 312.5 Bitcoins in 2014 was around $3 million and now more than $27 million. Thus, compared with today, Winklevoss twin’s tickets were the most expensive ones.
Now Tyler seemed to know the reality and years later; he said: “I won’t make that mistake again.”
Besides, Winklevoss compared the ticket’s purchase with the popular Bitcoin Pizza Moment from 2010, back then; Laszlo Hanyecs made the most significant transaction in bitcoin’s history. Laszlo purchased two large pizzas on May 22 and paid 10,000 Bitcoins.
This marked the first commercial use-case of Bitcoin and to celebrate this day as a special day, the crypto community recognized it as the Bitcoin Pizza Day.