Winklevoss Twins Launch Bitcoin ‘Winkdex’
Justin Sullivan/Getty Images(LOS ANGELES) — As they prepare to launch the first publicly-traded U.S. fund for Bitcoins, the Winklevoss twins — Cameron and Tyler — have introduced the Winklevoss Index (“Winkdex”) for pricing the virtual currency.
The identical siblings gained fame from the movie The Social Network, which depicted their fight with Mark Zuckerberg over the creation and ownership of Facebook.
Winkdex uses a proprietary formula to create a blended price for Bitcoins denominated in U.S. dollars. According to the Winkdex site, it is calculated by blending the trading prices for the top three (by volume) qualified Bitcoin Exchanges during the previous two-hour period. It volume-weights those transactions on a proportional basis.
Copyright 2014 ABC News Radio
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