Cryptocurrency is a digital currency or digital asset that can be used as a medium of exchange. Individual coin ownership is stored in a distributed ledger technology, also known as “blockchains.” These “blockchains” serve as a public transaction database, where all history of coin exchanges (i.e., buying, selling, and trading) are tracked.
Since cryptocurrency’s introduction back in 2009, it has gained popularity among traders and everyday consumers. Currently, there are 5000 types of cryptocurrencies in the global market. The top 10 cryptocurrencies for 2021 are Bitcoin (BTC), Ethereum (ETH), Binance Coin, Tether (USDT), Cardano, Polkadot (DOT), Ripple (XRP), Chainlink, and Stellar (XLM).
It was believed that Bitcoin ushered in the birth of cryptocurrency. The market capitalisation of Bitcoin reached an all-time high of $600 billion last March 2021. Further, it also reached a whopping $1000 billion in May 2021.
Bitcoin is considered one of the most successful digital currencies ever created. The atmospheric rise of its market capitalisation left billions of dollars up for grabs for anyone, virtually, thus creating a diverse and surprisingly new field of millionaires.
During its launch in 2009, nobody expected substantial gains by investing in this game-changing digital currency. Some would define it as a hazardous investment to be involved in. However, early adopters studied and predicted the crypto market’s significant opportunity.
Today, as neophytes and experienced trades getting more interested in cryptocurrency, financial brokers and software developers started developing trading platform apps. These apps make cryptocurrency trading secure, convenient, and accessible for all users. To learn more about cryptocurrency trading, visit the https://bitcoinaussiesystem.io/
As the crypto market is rapidly growing, so is its investors’ wealth. Here are the crypto tycoons that made it to Forbes World’s Billionaires list:
1. Matthew Roszak
Net Worth: $1.5 Billion
Roszak is the co-founder and chairman of Bloq and Tally. Bloq is a blockchain start-up technology and consulting firm that helps companies and banks in handling digital assets. While Tally Capital is also a private investment firm focusing on blockchain-enabled technology.
Roszak first learned about Bitcoin in 2011, his then Singapore-based social gaming company was studying the possibility of using Bitcoins as a mode of payment. Roszak studied Satoshi Nakamoto’s white paper and became interested in Bitcoin.
His early fascination with Bitcoin resulted in his increased $1.5 Billion worth of cryptocurrency investments. Further, he became a Bitcoin advocate and started his Blockchain Technology career with different cryptocurrency portfolios such as Block. One, Blockchain Capital, Blockstream, Civic, Factom, and Chicago Blockchain Center.
2. Michael Saylor
Net Worth: $ 2.3 Billion
CEO and founder of business intelligence firm Microstrategy. Saylor was a newcomer in the Cryptomarket, and he made a long-term investment of $250 million to Bitcoin last August 11, 2020. Saylor doubled his company’s investment and bought a total of $38,250 Bitcoins. Since then, the company’s market value has increased dramatically.
The firm now has a total of 90,859 Bitcoin, purchased for $2.2 billion. The investment was now worth a whopping $5.6 billion after Bitcoin hit a new all-time high of $60,000. Microstrategy’s profit increased by $3.4 billion after just seven months of gambling in the no. one cryptocurrency, Bitcoin.
3. Cameron and Tyler Winklevoss
Combined Net Worth: $6 Billion
Known as the “Winklevoss Twins,” they first became famous for their dispute in Facebook ownership with Mark Zuckerberg back in 2008. They now own a multi-million-dollar empire because of their cryptocurrency business, primarily Bitcoin and NFT.
Winklevoss Twins invested $10 million in Bitcoin back in 2012. Bitcoin was then an emerging and new digital technology, priced at $8, a far cry from its now recorded market price of $ 60,000. During this year, Winklevoss Twins founded the Winklevoss Capital management. At present, the pair already invested in 25 digital start-ups. Their most recent investment is a Bitcoin lending giant, the Block-fi. As of March 11, 2021, the company is now valued at more than $3 billion.
They also founded the Gemini Trust Co. in 2014. A trading platform for cryptocurrency exchange and portfolio. Two years later, it became the first exchange authorised to sell Ethereum. Ethereum is the second most popular cryptocurrency after Bitcoin.
4. Sam Bankman-Fried
Net Worth: $ 6.5 Billion (2020 Net worth: $ 1Billion)
Bankman-Fried is the CEO of FTX, a cryptocurrency exchange. He manages Alameda Research with over $2.5 Billion assets. Alameda research is a quantitative crypto trading firm founded in 2017. Bankman-Fried is a graduate of MIT and a former Wall Street ETF trader.
He is also listed under Forbes 30 Under 30 2021. Forbes list of top young entrepreneurs under 30 years old. His company FTX is one of the largest cryptocurrency exchanges in the world. A routinely daily trading volume of $10 billion. Bankman-Fried also chaired the FTX Foundation, which allocated 1% of its net fees to charities; to date, it has already donated $ 3 million—making him one of the most popular crypto tycoons in social media.
5. Brian Armstrong
Net Worth: $ 8.9 Billion
CEO and founder of Coinbase Global, the largest cryptocurrency exchange in the United States. He was a former Airbnb software engineer, and he founded Coinbase Global back in 2012. Coinbase only went direct public offering last April 14, 2021, immediately reaching a market cap of $100 billion. This turned Armstrong into an instant multi-billionaire, increasing his shares from $40 million to about $16 billion.
After ten years of founding Coinbase, as cryptocurrency became a trending hot commodity, his company also grew into popularity.
Cryptocurrency investment and other Initial Coin Offerings (“ICOs”) is speculative and has its risk. This article does not serve as a recommendation for investing in cryptocurrencies or other ICOs.
Each individual’s situation is different. Timing and learning the method are the key. Qualified professionals are highly recommended to be consulted before making any financial decisions. Understanding the industry with the guidance of qualified financial brokers is a suggestion for possible gains and wins in the crypto market.