These famous men became rich by investing in cryptocurrencies or selling products and services related to them. They have taken advantage of the volatility of the cryptocurrency to buy when its price drops and sell when it rises.
Bitcoin has the honor of being the first and most successful cryptocurrency on the market. The investors who have amassed huge fortunes with that cryptocurrency are responsible for much of its well-deserved fame.
Those Bitcoin billionaires have managed to predict the price of that tremendously volatile crypto asset. The value of Bitcoin was close to USD 10 in 2010, but it nearly reached USD 60,000 this year.
However, those Bitcoin billionaires did not become rich only by accumulating and mining cryptocurrencies. Much of their wealth came from creating various products and services related to that asset.
Sam Bankman-Fried Made His Fortune through His Cryptocurrency-Related Firm
The CEO of cryptocurrency investment platform FTX is one of the fastest-growing cryptocurrency billionaires. The 29-year-old MIT graduate has not stopped making money after founding his company in 2019.
According to Forbes, the firm of Bankman-Fried was worth USD 8.7 billion in April 2021. The executive has taken advantage of derivatives, digital tokens, and contracts before public offerings to increase his wealth.
The Winklevoss Brothers Became Rich through Their Cryptocurrency-Investment Platform
Litigation with Mark Zuckerberg made Tyler and Cameron Winklevoss very well known worldwide. They obtained USD 65 million worth of Facebook shares and cash from the lawsuit, which they invested in crypto assets. The twins became the first cryptocurrency billionaires following the late-2017 Bitcoin price surge.
According to Forbes, they occupy second place in the ranking, with USD 3 billion each. However, much of their wealth does not come from investing in cryptocurrencies but from creating Gemini in 2014.
The investment platform was worth USD 7.1 billion after it raised USD 400 million in November 2021. The Winklevoss brothers also own a platform for buying and selling NFT.
Barry Silbert Has Invested in Many Cryptocurrency-Related Companies
The CEO of Digital Currency occupies third place in the ranking, with a net worth of USD 1.6 billion. Barry Silbert made much of his fortune thanks to that venture capital firm.
Silbert also owns Genesis, Grayscale, and Bitcoin Investment Trust, companies in the crypto ecosystem. However, this billionaire has invested in more than 100 companies related to crypto assets, earning the nickname king of cryptocurrencies.
Brian Armstrong Created a Cryptocurrency-Investment Platform for Small Investors
After leaving a job as a programmer in 202, Brian Armstrong co-founded cryptocurrency-investment platform Coinbase. That life change brought him a net worth of USD 10.9 billion, Forbes estimates.
Small investors use his company as a gateway to the world of cryptocurrencies. In that regard, the billionaire claimed that he wanted a global and open financial system that fueled innovation and freedom for the world.
Michael Saylor Has Acquired Bitcoin as a Store of Value
The co-founder and leader of MicroStrategy, Michael Saylor, began his investment in Bitcoin in August 2020. At the time, he acquired USD 250 million worth of Bitcoin.
The community knows him as a Bitcoin guru whose investments have generated USD 3.5 billion. Besides, his company increased its market value by 337% after buying Bitcoin during its price drop. According to Forbes, the net worth of Saylor is at USD 2.3 billion.
By Alexander Salazar
