Crypto Billionaires: Who They Are and How They Made Their Money
New York City: If you’re interested in cryptocurrency and the massive gains many cryptocurrencies have made over the past few years, you probably know that there are some people who have amassed fortunes worth millions or even billions of dollars from their cryptocurrency investments. But who are these people, exactly? And how did they make their money? In this guide to crypto billionaires, we’ll go over all of the biggest names in cryptocurrency and give you insights into their stories and what drives them to invest in this exciting new technology. Let’s get started!
Important People in Cryptocurrency History
The first crypto billionaire is a man named Satoshi Nakamoto, who invented Bitcoin in 2008. He remains anonymous to this day, but his invention has had an enormous impact on the world. The second crypto billionaire is Tim Draper, who invested in Bitcoin in 2014 when it was worth $300 per coin. Today, that investment would be worth more than $2 billion. The third crypto billionaire is Changpeng Zhao, CEO of Binance (a cryptocurrency exchange). He studied computer science at the University of Waterloo before founding Binance with $15 million of his own money. Nowadays he’s estimated to have a net worth of over $1 billion. It’s difficult to know how many people are billionaires because they might not know they’re billionaires, or they might not want their information public. However, most sources estimate there are between 1,500 and 2,000 people who qualify as crypto billionaires. So who are these people?
Here are three examples of famous crypto billionaires:
- Tim Draper – One of the earliest investors in Bitcoin, he bought coins when they were only worth around $300 each. That investment made him one of the wealthiest individuals in Silicon Valley and gave him bragging rights to say that he predicted Bitcoin’s meteoric rise.
- Vitalik Buterin – Co-founder of Ethereum, which is now one of the largest cryptocurrencies behind Bitcoin. Aged just 24, Buterin found himself a multi-millionaire after Ethereum launched its ICO for tokens called ethers (ETH) – raising about $18 million dollars from buyers all over the world. Known as Bitcoin Jesus in some circles, Buterin became known for being an outspoken advocate for blockchain technology and cryptocurrencies. And like any other individual in the public eye, he has faced scrutiny too – including accusations of insider trading that led to the emergence of ERC-20 tokens, based on code created by him.
- Changpeng Zhao – After working as head technical officer at Blockchain Inc., CZ founded what would become one of the largest cryptocurrency exchanges today – Binance. From humble beginnings to becoming a leading figure in the industry, CZ went from studying computer science at university to becoming what Bloomberg calls the face of Bitcoin globally today…
Innovations That Made These People Rich
Four people who have made a killing in the cryptocurrency market are known as crypto billionaires. It is impossible to know how much they are worth because the currency is so volatile, but estimates put their wealth between $10 billion and $15 billion. The four innovations that these individuals had helped create were Bitcoin, Ethereum, Ripple and Litecoin. All four of these currencies were designed for two purposes – security and anonymity – which led to an explosion of interest in digital currencies by people around the world. One company has gone from zero to over 1 billion dollars after creating Ethereum which was seen as more flexible than Bitcoin with its ability to host smart contracts on its blockchain ledger. Ripple was created by Chris Larsen, Jed McCaleb and Arthur Britto. McCaleb developed Mt Gox (a bitcoin exchange), and Larsen co-founded E-Loan (an online lending site).
Bitcoin was the first major player in the game invented by Satoshi Nakamoto back in 2008. There are many theories about who this person might be; some believe it is someone like Nick Szabo or Hal Finney while others believe it could be a group of people or even a single person.
Litecoin also rose to prominence when Charlie Lee decided to take his experience working at Google and devote all his time to developing this alternative coin (or altcoin) through mining software such as GUIminer and cgminer. This small list just goes to show you the power of cryptocurrencies. If you have an idea for one, then there’s no better time to pursue it than now!
Top Newcomers to Cryptocurrency Riches
Bitcoin is the grandfather of all cryptocurrencies, so it’s not surprising that some of the richest people in cryptocurrency are investors in Bitcoin. But as Bitcoin’s price has soared to nearly $20,000, a new crop of crypto billionaires has emerged. Here are five people who got rich from Bitcoin or other cryptocurrencies.
1) Cameron Winklevoss – Cameron and his twin brother Tyler are famous for suing Facebook founder Mark Zuckerberg over claims he stole their idea for a social network while they were students at Harvard University. Now, the brothers have turned their attention to Bitcoin. The brothers reportedly own about 1 percent of all bitcoins worldwide, which would make them worth about $1 billion each on paper. 2) Roger Ver – A self-described libertarian and early investor in Bitcoin startups, Ver owns around 300,000 Bitcoins which makes him worth more than $3 billion according to Forbes estimates. 3) Changpeng Zhao (CZ) – Zhao was an early developer with Chinese internet giant Tencent before founding Binance (BNB), one of the world’s biggest cryptocurrency exchanges by trade volume today with more than 10 million users per day. CZ may be the first trillionaire in history. 4) Matthew Mellon – Mellon is a former coal baron and scion of America’s most famously philanthropic family. He made headlines earlier this year after blaming his substance abuse addiction on investing in cryptocurrency such as bitcoin cash. 5) Brian Armstrong (BA) – Armstrong founded Coinbase, one of the world’s largest companies dealing with digital currencies.
Do You Have What It Takes To Become A Crypto Billionaire?
Does this sound like you? You’re a natural born investor, with a lot of guts to put your money in risky investments. You’re looking for a new way to get rich quick, or at least make enough money to pay for your next vacation. If you answered yes to any of these questions, then crypto might be the perfect opportunity for you. There are so many ways to invest in cryptocurrency, but one of the most popular is buying Bitcoin. There are a number of websites that allow you to purchase Bitcoin using traditional currency (e.g., US dollars), but Coinbase is one of the more popular ones because it’s simple and easy to use. Once you have purchased Bitcoin on Coinbase, there are three main ways that you can store it . The first option is to leave it in the exchange wallet. The second option is using an online wallet service such as Blockchain, where all of your private keys are stored by Blockchain. Finally, there are hardware wallets such as Ledger Wallet and Trezor which give you full control over your coins. However, if you want to own a truly significant amount of cryptocurrency and not have to worry about hackers stealing it from your personal computer, then you’ll need to buy a physical safe.
The Best Advice for Getting Started in Cryptocurrency Space
The best advice for getting started in the cryptocurrency space is to do your research. There are a lot of shady characters out there, so it’s important to be able to separate fact from fiction. Make sure you understand the potential consequences of any investment before making a commitment. Cryptocurrency prices can fluctuate wildly, so it pays to know what you’re investing in.
The biggest crypto billionaire is likely Bitcoin creator Satoshi Nakamoto (whose true identity remains unknown).
Many of today’s crypto billionaires made their fortunes by mining cryptocurrencies like Bitcoin early on when they were worth very little money.
It’s also possible that some crypto billionaires bought into Bitcoin or other cryptocurrencies during the huge price increases seen this year. The Winklevoss twins – who claimed Mark Zuckerberg stole their idea for Facebook – famously invested $11 million in Bitcoin in 2013 after spending two years studying the currency. Today those holdings would be worth around $1 billion. Another popular way to get rich in the crypto world is through Initial Coin Offerings, which allow companies to raise funds through selling tokens or coins. However, as with all investments, buyer beware! ICOs have been notoriously unreliable with numerous projects failing after raising millions of dollars.