Making of a Crypto Billionaire | 14 September 2022

Many people have started investing in Cryptos because of the great success stories that can be found on the internet. Crypto investors who have bought tens and hundreds of dollars worth of bitcoin (BTC) and chose to HODL for years and crypto whales who have founded crypto-related companies are amongst the wealthiest. There are many possibilities and practical ways to get rich using Crypto. Trading well, setting up a business or having a decent fortune are some of the ways to start with. The crypto market is growing and there are many opportunities for crypto investors and crypto whales to grow their wealth.

The crypto market is very volatile, and it brings inevitable risks and opportunities. Despite this, money is flowing into many crypto startups and relatively young companies developing decentralized applications (DApps). There are a lot of these DAPPs which focus on Web 3.0 innovations, which are leading the evolution of the current world wide web. The adoption of the crypto market is increasing, which means more money is being poured into various crypto projects. 

A crypto billionaire may have gotten rich by investing directly in Cryptos or crypto-related businesses. The Crypto market is relatively young, so there is also a chance that crypto billionaires have become rich through a combination of both possibilities. There are 19 crypto billionaires in total, but the future will tell if Satoshi Nakamoto and Vitalik Buterin also belong to this group of wealthy crypto investors.

Of these 19 crypto billionaires, almost all have made their fortunes from bitcoin investments or their blockchain-related ventures. Few of the nineteen billionaires are OpenSea’s Alex Atallah and Devin Finzer, Ripple’s Chris Larsen and Jed McCaleb, and Coinbase’s Brian Armstrong. Vitalik Buterin, perhaps the 20th crypto billionaire, could be added to the list, but his wealth fluctuates too much to be considered. Among the 19 wealthy crypto investors, as many as 16 have US -passports. Since the identity of Bitcoin creator Satoshi Nakamoto is unknown, no one can determine if there is another 17th American crypto billionaire in the world. If it turns out that the unknown creator of Bitcoin is human, then of course he belongs to the list.

The richest crypto billionaire is Changpeng Zhao, the founder and CEO of Binance, the largest crypto exchange in the world. It is stated that he owns more than 70% of Binance stocks and those stocks constitute quite a large sum. Binance is one of the many Crypto companies that own a large amount of BTC and is keeping alive the dream of many crypto investors by giving them the opportunity to trade and invest in Bitcoin and Altcoins. In addition to its stake in Binance, CZ himself has Bitcoin in his portfolio. However, BTC is not the only Crypto CZ owns. He also privately owns a large amount of BNB Coins (BNB).

After CZ, it is Sam Bankman-Fried and Brian Armstrong, founders of FTX Exchange and Coinbase, respectively. This tells us that offering services that meet the needs of people in the Crypto industry can be a profitable business. In addition to these Crypto exchange founders, there is another billionaire, Satoshi Nakamoto. With a total of 1.1 million BTC, Satoshi owns by far the most Bitcoin.

Two very familiar and popular names of the crypto industry are fighting over who is the youngest crypto billionaire in the world. There are times when Vitalik Buterin is the youngest crypto billionaire, but he’s swapping titles with Sam Bankman-Fried. Both men are more than two years apart in age, with Bankman-Fried being the older of the two. However, age is not the most important factor, rather the popularity and value of ETH is the deciding factor.

If the price of ETH increases, Vitalik’s assets will grow exponentially with it. That’s because Vitalik Buterin holds more than 290,000 ETH, which is by far the largest part of his wealth. However, if the price falls, Vitalik will no longer be a billionaire. Sam Bankman-Fried, the FTX Exchange owner has more than $22 billion in assets. The speed at which Sam is growing his wealth has not only earned him the title of the youngest crypto billionaire, but he has also become the fastest billionaire. This title was previously held by Mark Zuckerberg, the owner of Meta. 


Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in Cryptos viz. Bitcoin, Bitcoin Cash, Ethereum etc. are very speculative and are subject to market risks. The analysis by Author is for informational purposes only and should not be treated as investment advice

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