11 Billionaires Who Increased their Wealth with the Appreciation of Bitcoin
The impressive rise in the price of Bitcoin in the last quarter has seen many billionaires rapidly increasing their fortunes in cryptocurrencies. According to a Forbes list, currently, there are 11 investors in the cryptocurrency market with a net worth of more than $1 billion.
From businessman Brian Armstrong to investor Matthew Roszak, the Forbes list features big names for the crypto market. Let’s take a look:
With a fortune of 6.5 billion dollars, American businessman Brian Armstrong is the richest cryptocurrency investor on the Forbes list. He occupied the first position in the ranking.
In addition to owning 20% of Coinbase, Armstrong has worked at Airbnb and Deloitte. The exchange created by him is considered the most valuable cryptocurrency business in the United States.
A cryptocurrency derivatives exchange has made businessman Sam Bankman-Fried the second most valuable billionaire on the Forbes list. He launched FTX in 2019, and he has a fortune valued at $4.5 billion. Besides, he manages a $2.5 billion fund through Alameda Research.
The price of Ripple (XRP) has been falling in recent months. However, Chris Larsen, the Ripple company’s creator, is still one of the men who has increased his wealth with the price of Bitcoin.
At the end of 2020, Chris Larsen’s revenue was worth $17 billion. However, his net worth is currently valued at $2.9 billion, making him the third-largest billionaire on the Forbes list.
With a net worth of about $2 billion, Michael Saylor is the fourth billionaire on the Forbes list. The entrepreneur and co-founder of MicroStrategy, a company that is responsible for leading institutional investments in cryptocurrencies.
Also known as CZ, the CEO of the famous exchange Binance launched the company in 2017, has managed to accumulate a net worth of $1.9 billion.
With the rise of Bitcoin in the market, Binance’s CZ increased its fortune.
Tyler and Cameron Winklevoss
The famous twins of Facebook, Tyler and Cameron Winklevoss, have also increased their positions with the rise of Bitcoin in recent months. With a fortune of 140,000 units of BTC in total, each of the brothers has a net worth valued at 1.6 billion dollars.
Like MicroStrategy, Grayscale’s cryptocurrency mutual funds were responsible for putting another billionaire on the Forbes list.
Thus, Barry Silbert’s name appears in seventh place in the ranking with a $1.5 billion net worth.
Along with Chris Larsen, Jed McCaleb was one of those responsible for the Ripple company’s founding in 2012. Besides, McCaleb created other famous companies in the market, such as the Mt. Gox exchange and the Stellar cryptocurrency.
With a net worth of $1.4 billion, Forbes added the businessman in the eighth position.
Famous investor Tim Draper bought nearly 30,000 units of Bitcoin in 2014 for $632 each. At the time, Draper paid nearly $19 million. However, with the cryptocurrency revaluation in the last six years, the investor’s balance is now worth more than 1.1 billion dollars.
Lastly, the Forbes list notes that Matthew Roszak is another market investor who recently hit the billion-dollar mark with the appreciation of Bitcoin, investing in cryptocurrencies since 2012.
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