Winklevoss Twins Make Initial Seed Investment in BitInstant
Following a summer introduction in Ibiza, the Winklevoss twins finalize their first seed investment (~$880k) in BitInstant via Maguire Ventures, months before the widely publicized 2013 round.
In October 2012, the Winklevoss twins (Cameron and Tyler) finalized their first seed investment in BitInstant, marking their official entry into the Bitcoin ecosystem. While often overshadowed by the larger, media-heavy $1.5 million funding round that occurred in May 2013, this earlier capital injection was the true beginning of their partnership with CEO Charlie Shrem.
The relationship began earlier that summer (June/August 2012) in Ibiza, where the twins were first introduced to the concept of Bitcoin by David Azar. After returning to New York and meeting Shrem in Brooklyn, the twins agreed to invest approximately $880,000 via their investment vehicle, Maguire Ventures, in exchange for roughly 22% of the company. This initial seed money was critical for BitInstant's liquidity during a period of explosive growth.
This event is historically significant because it represents the moment smart money—specifically from figures known in mainstream tech and finance—privately placed a bet on Bitcoin infrastructure, long before the 2013 price rally brought global attention to the asset class.