7 Richest Bitcoin millionaires
Bitcoin, unlike traditional careers, has created millionaires from all walks of life, from serial entrepreneurs to former programmers.
Top five Bitcoin Millionaires and their history of success. Read an article about entrepreneurs who made a fortune on cryptocurrencies.
The year 2017 alone has given a stunning impulse to enrich bitcoin owners. A person who has 1000 btc is $100 000 richer every time the price of one bitcoin rises by just $100. In 2019, the Bitcoin price has tripled in just a few months. At the current price of a bitcoin of $7100 a person needs only 140 BTC to be considered a “Bitcoin millionaire”.
According to BitInfoCharts.com, just over 14000 Bitcoin addresses contain 100 or more coins. But since one person can have multiple BTC addresses, the actual number of Bitcoin millionaires is certainly much less than 14000. It is not possible to calculate their exact number, or even to know how many such addresses belong to one person. The reason is that although all Bitcoin addresses are publicly available, information about their owners is not public.
Bitcoin wealth is extremely concentrated these days. Nearly two-thirds of all bitcoins are stored at only 0.01% of the total number of addresses that contain 100 BTC or more. And the interesting thing is that 89.4% of all bitcoins are stored in 0.8% of the addresses (containing 10 or more bitcoins). However, the most “expensive” Bitcoin wallets are owned by famous people. Let’s see who owns more than anyone.
Estimated crypto fortune: 30 000 BTC or $215 million
Tim Draper, the co-founder of venture capital firm Draper Fisher Jurvetson, surprised many in June 2014 when he auctioned off all 29656 Bitcoins offered by the U.S. Federal Executive Service. The federal authorities confiscated this batch of bitcoins after the closure of the Silk Road exchange, which allowed people to buy drugs with cryptocurrency. Draper’s convinced that Bitcoin will revolutionize the financial industry. In December 2016 Draper gave “Money Morning” the most optimistic forecast about the price of Bitcoin — about $10000 by the end of 2017. His prediction actually has been doubled by BTC price.
Estimated crypto fortune: 34 000 BTC or $243 million
Gallippi was an early Bitcoin entrepreneur. He founded BitPay, a start-up that handles Bitcoin payments and wallets in 2011. The BitPay card allows customers to convert their bitcoins to fiat currencies and receive them via Visa credit cards. Anthony Gallippi is considered a leading expert in cryptocurrencies, so he testified about them in the US Congress in 2013.
Estimated crypto fortune: 42 000 BTC or $300 million
Michael Novogratz is the manager of the Fortress Investment Group hedge fund (NYSE: FIG). He began to take an interest in Bitcoin as early as 2013, buying digital currency and referring it to Pantera Capital, a hedge fund that invests in startups. In April 2017, Novogratz said that he keeps about 10% of his assets in cryptocurrencies, primarily in Bitcoin and Ethereum. Thus, the total value of Novogratz’ assets can be estimated from $500 million to $750 million.
Estimated crypto fortune: 100 000 BTC or $716 million
Shrem was an early Bitcoin supporter. He founded the startup, BitInstant in 2011 and started investing in digital currency. BitInstant helped customers obtain bitcoins from 700 000 stores, including Wal-Mart Stores Inc. But BitInstant failed to comply with anti-money laundering laws, and Shrem was sentenced to two years in prison in 2014 for directing money to Silk Road, a black market that allowed customers to pay for drugs in bitcoins. BitInstant was closed. Today, Shrem serves as Head of Business and Community Development for a Jaxx startup that operates wallets to exchange one digital currency for another.
Estimated crypto fortune: 300 000 BTC or $2.14 billion
Ver is one of the first supporters of Bitcoin, even so much so that he is known as “Bitcoin Jesus”. Back in 2011, when BTC was trading at $10 mark, he boldly predicted that digital currency would outperform all other asset classes 100 times over the next two years. At the end of 2013, Bitcoin rose between $100 and $1200 in less than four months, and Roger Ver’s words were true. At its peak in 2013, Bitcoin outperformed other assets 300 times. Ver also invested in many Bitcoin-based startups during that period. Today he is one of the creators of Bitcoin Cash, a fork of original Bitcoin. Ver claims that BCH is the original Bitcoin because it has all features, which were conceived by Satoshi Nakamoto.
Estimated crypto fortune: 1 000 000 BTC or $7.16 billion
It is believed that the mysterious Bitcoin creator controls about 1 million BTC, most of which were mined in the earliest days of the cryptocurrency when only a few programmers knew it existed. At that time, the reward for the block was 50 bitcoins, and the difficulty of mining was so low that even an average laptop could be used for mining. It is not known whether the name “Nakamoto” is a pseudonym for one person or group of people, and where he/she may be now. But the bitcoins that belong to Nakamoto have never been spent or transferred from his wallets.
Estimated crypto fortune: 1 500 000 BTC or $10.74 billion
The Winklevoss twins became famous when they sued Mark Zuckerberg for allegedly stealing the idea of Facebook. After the trial under the agreement, Winklevoss received $65 million. In 2013, they used part of their payments under the settlement agreement to purchase 1.5 million BTC. Since then, these investments, estimated at $11 million, have increased by more than 31,000%. However, the Winklevoss twins are not just Bitcoin investors thanks to Winklevoss millionaire success habits. They also launched one of the leading Bitcoin exchanges Gemini and developed a proposal for an exchange-based investment fund (Winklevoss Bitcoin Trust), which, unfortunately, was rejected by the US SEC.
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