Nine new Bitcoin billionaires and what they do in the market
Forbes released the Annual Billionaires List, which lists the richest people in the world. Jeff Bezos is at the top for the fourth year in a row, Elon Musk is just in second. Also in the top ten are Bill Gates in fourth, Mark Zuckerberg in fifth and Mogul Warren Buffet in sixth. With the rise of Bitcoin and the introduction of institutional investment, it should come as no surprise that the cryptocurrency industry has three times as many billionaires on the list as it did the year before.
Last year’s list included four people. Nine new cryptocurrency billionaires have joined this year, for a total of twelve. Here are the newcomers and their place in the market:
Tyler and Cameron Winklevoss
Okay, here we are looking at two individuals, but they are twins and work together on all of their projects. You may know her from the Facebook scandal – Zuckerberg sued for IP theft and won a multi-million dollar settlement in this case. They used their profits to invest in Bitcoin and started their own cryptocurrency exchange Gemini almost seven years ago. Today they have a net worth of about $ 3 billion apiece.
One of Ripple’s co-founders, McCaleb, holds around 3.4 billion XRP. As the founder of Stellar, he also owns around 1 billion Stellar Lumens (XLM). McCaleb sells about $ 400 million in Ripple tokens and sits on cryptocurrency investments and fiat worth about $ 2 billion.
Sam Bankman-Fried founded the crypto trading company Alameda Research and the derivatives platform FTX. With a net worth of $ 8.7 billion and just 29 years old, Bankman-Fried can be found on both the billionaires and Forbes lists of 30 under 30.
Draper is a name that has been into crypto for a while. With a net worth of around $ 1.5 billion, he managed to prevail in 2014 by purchasing $ 18.7 million in Bitcoin. Its name may be known from Tezos – a cryptocurrency project that started in the early days of the blockchain.
Ersham helped Brian Armstrong co-found Coinbase in 2012. He left the company five years ago but returned as a board member of the company. With the massive revenue stream from Coinbase and Ersham’s 6% stake in the company, it’s valued at around $ 1.9 billion.
In 2015, Silbert founded the Digital Currency Group in 2015. This company owns the prominent Grayscale Bitcoin Trust – another institutional firm that is making massive waves in the market. Silbert has approximately $ 1.6 billion in net worth.
MicroStrategy made waves as one of the largest institutional users in the cryptocurrency market. Saylor as CEO made some early calls to keep Bitcoin on his company’s balance sheet, which took the company’s assets to new heights. He expects a net worth of $ 2.3 billion.
Changpeng “CZ” Zhao
CZ as the founder of Binance is a household name in the cryptocurrency industry. With almost its entire portfolio in cryptocurrency and an estimated 30% stake in the company, CZ’s net worth is around $ 1.9 billion.
As the chairman of Bloq and a massive cryptocurrency investor, Roszak has net worth of $ 1.5 billion.
The post, Nine New Bitcoin Billionaires And What They Are Doing In The Market, first appeared on Coin Insider.
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