One of the things that shook the global economy the most in the last decade was the introduction of cryptocurrencies. Bitcoin became the first decentralized cryptocurrency in 2009, and ever since then more than 4.000 alternative coins have been created. Nowadays Bitcoin is much more popular than before, and it is used for a number of different purposes.
So what happened to make Bitcoin as popular as it is? Well, many people saw the potential that cryptocurrencies had and invested in them since the very beginning which ultimately brought them fortunes. The number of crypto millionaires out there is unknown, but there are definitely hundreds of them.
FUN FACT: In May 2010, 10,000 bitcoins would get you two Pizzas. In May 2017, 1 Bitcoin was worth 20 million pizzas.
Today we take a look at the top three billionaires who made the biggest fortunes by trading and investing in cryptocurrencies.
Chinese-born business executive Changpeng CZ Zhao is the founder and CEO of Binance, which is the largest cryptocurrency exchange in the world. Binance was founded in 2017, and with 1.4 million transactions per second it succeeded in attracting 6 million users.
He worked on several others projects such as Fusion Systems (2005), Blockchain.info (2013), and BijieTech (2015). The infographic at bitfortune.net states that the 41 years old McGill University graduate has made between $1.1 and $2 billion by investing in cryptocurrencies. As a result he was placed third on “The Richest People in Cryptocurrency” list by Forbes Magazine in 2018.
Princeton University graduate of electrical engineering and computer science, Joseph Lubin, is a Canadian entrepreneur who founded and co-founded several companies, such as Ethereum and ConsenSys. The former one is a decentralized cryptocurrency platform, and the latter one, which employs 600 people, is a software production studio for the Ethereum ecosystem.
The 53 years old, who has a crypto net worth of between $1 and $5 billion, has worked on other projects besides Ethereum and ConsenSys, such as SyNerG Music in 2012.
The co-founder of several Silicon Valley technology startups, Chris Larsen, is the guy who made the biggest fortune by investing in cryptocurrencies with an estimated crypto net worth of between $7.5 and $8 billion.
He began making his empire in 1997 when he created E-Loan, a financial services company, and after that he worked on several other projects such as Prosper Marketplace (2005), OpenLabs (2012), and AKA Ripple Labs (2013).
He is the co-founder of Ripple, which developed the Ripple payment protocol and exchange network. He has 17% of the company which controls 61 billion of the 100 billion XRP in supply.
There are many other billionaires who made fortune through cryptocurrencies, such as the twins Tyler and Cameron Winklevoss, Matthew Mellon, Brian Armstrong, Brock Pierce, Michael Novogratz, who also deserve an honorable mention in this Crypto Kings list.
These are the richest and most famous people who risked investing in different cryptocurrencies, and in the end made real fortunes out of it. More and more people decide to invest in them with the goal of becoming rich, and if the growth that cryptocurrencies are experiencing is going to continue in the following years, many of them will succeed if they make the right decisions. One thing for sure – time will tell.