In 2009, Bitcoin, the first-ever decentralized cryptocurrency was created. As expected, it was something unusual and extraordinary. There were doubts over its sustainability so people were reluctant to invest. How could we have a currency that has no physical existence?
Fast forward, 12 years later, we have crypto billionaires (Woah, that’s some progress). Take the example of bitcoin, it was worth 196.02 U.S. dollars in October 2013. In March 2021, it reached an all-time high price of 58,734.48 U.S. dollars. (Are there any other investments that would guarantee you this much return in 8 years?)
And what a difference it has made during the pandemic. When there is a scarcity of jobs and economies are in depression, crypto investors have become billionaires.
The world is envying their luck but very few can relate to the risk they took.
Buying crypto or investing in the crypto infrastructure required courage at a time when its future was uncertain. Yet some people were brave enough to put most of their eggs in the basket. And they have been rewarded.
But the time is different now. Cryptocurrency is not only about bitcoin, you can also Buy USDT in Dubai which has been really profitable for a lot of people. Some of those who benefited immensely from Crypto are listed below. Let’s see who they are.
The Winklevoss Twins
Both Cameron Winklevoss and Tyler Winklevoss are American Olympic athletes. The twin brothers competed in the men’s pair rowing event at the 2008 Summer Olympics. However, the twins became famous after investing in Bitcoin.
The Winklevoss twins are the founders of Winklevoss Capital Management and Gemini cryptocurrency exchange. The siblings started investing in Bitcoin in 2012.
As per the reports, Cameron and Tyler invested $ 10 million in Bitcoin in the first year. Only the twins can tell how much they kept during the next 9 years and how much they sold. Today, the net worth of their coins is $3 billion U.S. dollars each!
Michael Saylor is an author, an entrepreneur, and a Bitcoin investor. He is co-founder and the lead of a famous IT company, MicroStrategy. In the middle of the pandemic, July 2020, Michael decided to invest in Bitcoin and gold instead of holding cash.
As per the shared numbers, MicroStrategy used $250 million from its cash stockpile to purchase 21,454 Bitcoin. The firm added another $175 million of Bitcoins to its holdings in September 2021 and another $50 million in early December 2020.
His coins are now worth $2.3 billion U.S. dollars.
After making it to Forbes, Matthew Roszak has become popular worldwide. Roszak is the co-founder of Bloq and the founder of Tally Capital.
Matthew began investing in Bitcoin in early 2012 and remained a crypto evangelist throughout the ups and downs. Today, his estimated net worth is 1.5 billion U.S. dollars.
Tim Draper is an American venture capital investor who is fond of investing money here and there. Tim has invested money in social media platforms and tech projects like Baidu, Hotmail, Skype, Tesla, SpaceX, AngelList, SolarCity, Ring, Twitter, and many more.
Tim made his first crypto investment in June 2014 when he spent about $19 million for 30,000 bitcoins. The current net worth of Tim’s crypto asset is 1.5 billion U.S. dollars.
The Infrastructure Builders
Though Sam Bankman-Fried is relatively a newcomer, he has made more than any investor or infrastructure builder. Sam founded the quantitative trading firm Alameda Research and popular derivatives exchange FTX.
The estimated net worth of these platforms is 8.7 billion U.S. dollars.
Brian Armstrong co-founded Coinbase in 2012, a company that operates a cryptocurrency exchange platform. Brian has reaped a tremendous amount of profit from his investment in Coinbase. The exchange is generating over $6 million in revenue.
Fred Ehrsam is the co-founder of Coinbase. He left the company in 2017 but remains a board member. His 6% stake in Coinbase is worth $2.9 billion.
Fred is now leading Paradigm, an investment firm focused on supporting great crypto companies.
In 2017, Zhao started a cryptocurrency exchange called Binance. The platform is known as one of the biggest cryptocurrency exchanges in terms of the trading volume. Now he owns a nearly 30% stake in the company and his net worth is $1.9 billion.
Barry Silbert is the founder of Digital Currency Group, an amalgamation of multiple cryptocurrency-focused companies. The estimated net worth of DGC is $1.6 billion.
The Coin Issuers
Chris is the co-founder of the American technology company Ripple Labs. Chris owns over 3 billion XRPs (a currency used to buy Ripple labs’ products) and a 17% stake in the company. His estimated net worth is $3.4 billion.
McCaleb is another Ripple co-founder. He owns 3.4 billion XRPs and an estimated 1 billion Stellar Lumens and his estimated net worth is $2 billion.
Though cryptocurrency has seen ups and downs, some entrepreneurs have made a fortune with it. With the growing use of technology and worldwide acceptance of digital currency, we can say a lot more future billionaires are in the process of making their fortune with crypto!