Cryptocurrencies have dominated the world of virtual assets but have the real capability to make billions. Many nouveau riche billionaires bear witness to the fact as during the last ten years, volatile and speculative crypto-assets have made billion-dollar fortunes overnight. It must be the only asset in the world to take 180 days to create a billionaire! Yes, it is true. As we will see ahead, cryptocurrency billionaires have been ruling the game with a sheer eye for the right trade and finding the potential in the cryptocurrency space, earlier than others.
The blockchain technology-based currency has revolutionized many industries, and the trading is the first one of them. However, cryptocurrency is speculative, and its prices swing wildly. It is down almost 50% in comparison to its peak, but it has shown its potential through the world's wealthiest individuals. Tax avoidance, black-market transactions, scams, sanctions-dodging are the main reasons to make it down in value.
The Richest in Cryptocurrency World
The Hurun Global Rich has issued the latest list of wealthiest persons. Six wealthiest Cryptocurrency Entrepreneurs have got a place in the newest list. China and the USA are in the lead with 1,425 number of the most affluent people. There is a world record of 2,816 billionaires this year. Wealth calculations are as of Jan 31, 2020. Some wealthy crypto entrepreneurs are not listed due to uncertainty in their wealth.
Five out of the six crypto wealthiest persons in the list run cryptocurrency exchanges like the bitcoin bank official site 2020. The richest winners who have made a considerable fortune with their investment in the Bitcoin world are as follows:
Changpeng Zhao (CZ) ($2.6 billion): Huran’s report shows the 42-year-old CEO of Binance, CZ, is the wealthiest of the crypto bunch. He had $1.3 billion in the year 2019 which has risen to $2.6 billion this year. He has been getting more and more traction in the crypto community and has become the top-ranked crypto player.
Zhan Ketuan ($1.6 billion): Bitmain’s co-founder Zhan Ketuan reportedly has $1.6 billion and is the second wealthiest crypto investor in Huran’s report. He got second place on the list. Last year he had $2.7 billion, which means Ketuan is down $1.1 billion.
Xu Mingxing (Star Xu) ($1.4 billion): Xu Mingxing is the CEO of OKCoin - BitCoin trading platform that works with advanced technologies. He has around $1.4 billion.
Chris Larsen ($1.3 billion): He currently serves as executive chairman on board of directors of Ripple and has been former CEO there.
Leon Li Lin ($1.1 billion): He is the founder of one of the world’s largest Bitcoin exchanges - Huobi Global. He is the CEO of Pantronics Holdings Ltd also. He is a coder and one behind the research into blockchain applications. Huobi’s Li Lin has allegedly $1.1 billion from cryptocurrency earnings.
Brian Armstrong ($1 billion): 37 years old Armstrong is the co-founder and CEO of the largest United States crypto exchange Coinbase. He has been in the headlines for his wealth.
Young and Rich
Let us meet the ‘miners’ who have won even after shadowy beginnings. They are early Crypto adopters who recognized a lucrative opportunity:
Erik Finman: He is the teenage bitcoin millionaire. He is one of the early crypto pioneers who first bought bitcoin at the age of 12 with $1,000 from his grandmother. He sold it at the age of 15 when the currency was up and earned $100,000 with the revolutionary potential of cryptocurrency.
Tyler and Cameron Winklevoss: They became the first billionaires in late-2017 when a sudden powerful upward movement in Bitcoin prices was witnessed. They own approx 1% of circulated Bitcoins.
Barry Silbert (News - Alert): He is known as "The King of Crypto." The CEO and founder of Digital Currency Group. A source of Bitcoin news found that he has acquired CoinDesk recently and has become the world's leading trading firm focused on digital currencies.
Blythe Masters: She is the CEO of Digital Asset Holdings (DAH) company that builds encryption-based processing tools (blockchain technology) to improve the efficiency, security, and settlement speed of Bitcoin trading.
Brock Pierce: Another notable name in this field is a former child actor and Entrepreneur Director of the Bitcoin Foundation (BCC (News - Alert)). The foundation initially raised $85 million from venture capitalists in 2017. POst its ICO; its currency was named EOS and its new venture, Block.one, has been created for promoting businesses on blockchain and seeing projects move from strategic phase to execution.
It has been estimated that approximately 2.644 million Bitcoins aren’t in circulation yet. Bitcoin is the first most successful blockchain-based cryptocurrency since 2009. The volatility can be seen in its range from $10 in 2010 to $20,000 in 2018. This overall price increase has brought out many Crypto billionaires.
