A new class of billionaires is formed by investing in Bitcoin

Due to the rise in the price of Bitcoin and other cryptocurrencies over time, many investors have made large sums of money and become billionaires, according to Forbes.

bitcoin billionaires

Over the past decade, crypto aficionados have turned an asset class out of whack in the financial world into something worth trillions of dollars. Before the rise of Bitcoin, many people will have to say thank you for this coin.

The case of the Cameron and Tyler Winklevoss brothers is an example. Known as a pair of business people “love” cryptocurrency, two people once sued Mark Zuckerberg for stealing Facebook ideas. In 2012, the Winklevoss brothers began to venture into the world of electronic money (Bitcoin) after failing to come to terms with Mark.

The two people have suffered countless criticisms for many years because of this decision. But now things could be different: Bitcoin’s price peaked and attracted a large number of investment professionals.

After Bitcoin hit $ 40,000 / dong last week, Cameron wrote on Twitter: “Bitcoin’s capitalization has surpassed Facebook. The network of cryptocurrencies will be worth more than a social network”.

Owning 1.4 billion USD, Winklevoss assets are nothing compared to Facebook boss (94 billion USD). Even so, their courage still deserves praise. Forbes estimates that this pair of entrepreneurs – each with $ 1.4 billion in digital assets – is twice as high as just a month earlier.

2020 is considered a bountiful season for the stock market, but the happiest season is probably Bitcoin investors. By comparison, when the S&P 500 was up 17% from the beginning of January 2020 to January 11 this year, Bitcoin was up 400%.

bitcoin cryptocurrency

According to crypto research website Messari, the market cap is currently at $ 920 billion after hitting $ 1,100 billion last week.

According to Forbes, the main factor driving the insane momentum of cryptocurrencies comes from the fact that the US Federal Reserve (FED) repeatedly launched support packages of hundreds of millions of dollars for the economy. Investors at that time believed that Bitcoin was a defensive channel to help them fight inflation.

Unlike the price hike at the end of 2017 – from $ 1,000 to $ 19,000 – largely driven by a group of retail investors, step of Bitcoin now also have the participation of the funds and those who want to store assets.

In 2020, payments giant Square spent $ 50 million on Bitcoin (currently priced at $ 161 million). Hedge fund billionaire Paul Tudor Jones also says that 2% of his assets is crypto.

At the same time, the Northern Trust recently said it will help its customers store cryptocurrencies better. Not only that, PayPal also allows 300 million customers to buy Bitcoin and use it at any of the 26 million partners.

According to Forbes, at least 6 people have become billionaires with Bitcoin in recent times (assets as of Jan. 11).

1 – Cameron and Tyler Winklevoss

The two co-founders of crypto exchange Gemini are now raking in around $ 300 million a day from digital asset transactions. In April 2013, the Winklevoss brothers were said to have owned $ 11 million worth of Bitcoins. Assuming two people still hold Bitcoin on top of the same Ether, each would have more than $ 1.4 billion in digital assets, according to Forbes.

bitcoin billionaires

2 – Matthew Roszak

In the late 1990s and early 2000s, Roszak worked in venture capital and an entrepreneur, before buying Bitcoin for the first time in 2012. Currently, he is the co-founder and chairman of Bloq, a blockchain technology startup that works with clients like Citigroup and Discover. Forbes estimates he owns about $ 1.2 billion in crypto assets.

bitcoin billionaires

3 – Tim Draper

Is a member of the famous clan Draper in Silicon Valley. In 1985, he became a founding partner of the venture capital firm Draper Fisher Jurvetson. In 2014, Draper bought 29,656 Bitcoins confiscated by the US Judicial Police from the black market for $ 18.7 million. He currently holds about $ 1.1 billion in crypto assets, according to Forbes.

bitcoin billionaires

4 – Michael Saylor

The company’s shares have quadrupled since the announcement of the first Bitcoin trading on August 11. In October, Saylor revealed that he spent about $ 175 million on 17,732 Bitcoin. Forbes estimates that he has about $ 600 million in crypto in his hand.

The company’s shares have quadrupled since the announcement of the first Bitcoin trading on August 11. In October, Saylor revealed that he spent about $ 175 million on 17,732 Bitcoin. Forbes estimates that he has about $ 600 million in crypto in his hand.

bitcoin billionaires

5 – MIKe Novogratz

After a series of failed investments that significantly evaporated the wealth, MIKe Novogratz – hedge fund manager from Goldman Sachs and Fortress Group became a crypto enthusiast.

In 2013, he is said to have invested $ 7 million in Bitcoin, then invested in Galaxy. Forbes estimates the company’s crypto assets at around $ 621 million, of which MIKe holds $ 478 million.

bitcoin billionaires

6 – Vitalik Buterin

Vitalik Buterin is the inventor of Ethererum – the world’s second largest cryptocurrency – currently worth about $ 123 billion. According to Forbes, Buterin currently has about 330,000 ether – equivalent to 360 million dollars. A year ago, that figure was only $ 45 million.

bitcoin billionaires

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