The resurgence of Bitcoin and the broader crypto market has minted a new class of billionaires. Over the past year, the total value of all outstanding cryptocurrencies skyrocketed by 170%, adding approximately $1.6 trillion to the market, which was largely fueled by the legalization of spot Bitcoin exchange-traded funds (ETFs) in the United States.
This phenomenal growth pushed Bitcoin to a record high of $73,000 in March, creating new billionaires.
17 Crypto, Bitcoin Billionaires
A new list of the world’s billionaires reveals a significant uptick in the number of individuals achieving billionaire status through cryptocurrency. At least 17 were noted this year, up from 9 the previous year, representing a nearly 50% increase.
Collectively, these crypto moguls command a staggering $93 billion in wealth. This wealth spans crypto assets, stock holdings, and private assets, marking a substantial leap from the $37 billion reported last year.
Changpeng Zhao, the founder and former CEO of Binance, remains at the pinnacle of this elite group. Despite legal battles, including a guilty plea to US money laundering charges, Zhao’s estimated net worth has surged to $33 billion from $10.5 billion, making him the standout crypto billionaire of the year.
The success stories extend beyond Zhao. Michael Saylor of MicroStrategy and Brian Armstrong of Coinbase have seen their fortunes swell to $4.4 billion and $11.2 billion, respectively, thanks to the surging stock values of their companies.
Both firms have experienced a fourfold increase in their share prices over the last twelve months, reflecting the booming interest in digital currencies.
Read more: Who Owns the Most Bitcoin in 2024?
This year’s list also welcomes newcomers like Giancarlo Devasini, Paolo Ardoino, Jean-Louis van der Velde, and Stuart Hoegner, key figures in the controversial yet highly profitable stablecoin issuer Tether. Veterans of the crypto market, such as the Winklevoss twins, venture capitalist Tim Draper, and Ripple co-founder Jed McCaleb, continue to feature prominently, their fortunes buoyed by the market’s bullish turn.
Here is the full list of the top crypto and bitcoin billionaires:
Changpeng Zhao
Brian Armstrong
Giancarlo Devasini
Michael Saylor
Paolo Ardoino
Jean-Louis van der Velde
Chris Larsen
Fred Ehrsam
Matthew Roszak
Jed McCaleb
Tyler Winklevoss
Cameron Winklevoss
Mike Novogratz
Stuart Hoegner
Tim Draper
Joe Lau
Nikil Viswanathan
The narrative of crypto’s rising billionaires reflects the sector’s rapid evolution and its emerging role in reshaping the global financial system.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Be the first to comment