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A year can make a lot of difference, especially for cryptocurrency enthusiasts. That is exactly what has happened in the crypto market. In this article, we will have a look at the cryptocurrency tycoons on Forbes 2021.
When the U.S economy saw a smash in March 2020, investors got panicked and they dumped their stocks and all their risky assets for cash. That same year Bitcoin’s valuation fell 50% in a day and so did other currencies.
A year later, the extent of the hike in the valuation of Bitcoin surprised the crypto market. The price then rose to $60,000 per coin in the month of March. Similarly, other tokens also saw massive gains. The total valuation of the cryptocurrency market then was $1.5 trillion.
So big companies are now joining hands with the crypto market. Companies like Tesla and Square are putting Bitcoin on their balance sheets. One of the oldest banks of Mellon named BNY Mellon is building its own crypto products. Also, the Federal Reserve is planning to make its own crypto dollars.
As there is growth in the market and so are the industry’s three comma clubs. 10+ cryptocurrency tycoons made their way into the 2021 Forbes World’s Billionaires list. The group’s formation—investors, builders, and issuers—portrays how the crypto environs are growing, and who’s getting compensated.
List Of 10+ Cryptocurrency Tycoons Appearing On Forbes, 2021
A lot of crypto tycoons have successfully placed themselves in the Forbes Billionaires List 2021. Here are the top personalities who are worthy of getting mentioned.
Cameron Winklevoss & Tyler Winklevoss
NET WORTH: $3 BILLION EACH
They are twin brothers and former rowers in the Olympics. They were the people to sue Facebook. They turned their $65 million digital currency into a personal fate that accounts for $3 billion each. These brothers began buying Bitcoins in 2012. They have launched the exchange platform for crypto coins called Gemini and have also bought the platform called Nifty Gateway that is known for the digital art auction.
Michael Saylor
NET WORTH: $2.3 BILLION
He is the CEO of a software firm called MicroStrategy. He started to invest in cryptocurrency and lost during the bust of dor-com. He is now worth $2.3 billion after investing in Bitcoin.
Matthew Roszak
NET WORTH: $1.5 BILLION
Mathew Roszak discovered the idea of Bitcoin in 2011, all of his early investment’s present valuation is $1.5 billion today. He is currently the chairman of Bloq. It is a blockchain infrastructure company and also an early stage investor in the crypto structure.
Tim Draper
NET WORTH: $1.5 BILLION
In 2014, Tim Draper, the capitalist behind the Silicon Valley venture bought Bitcoins worth $18.7 million but was confiscated by the U.S Marshal from the black market of the shuttered Silk Road. The current value of those coins is $1.5 billion.
Sam Bankman-Fried
NET WORTH: $8.7 BILLION
Cryptocurrency’s present wealthiest billionaire is Bankman-Fried. He is a 29-year-old MIT grad who formulated the commutable trading firm “Alameda Research and popular derivatives exchange FTX”. In 2020 donated $5 million to a super-PAC that supported the presidential campaign Joe Biden’s. This made headlines.
Brian Armstrong
NET WORTH: $6.5 BILLION
LAST YEAR: $1 BILLION
Brian Armstrong is the CEO and co-founder of Coinbase. His fate gave him more than hexadic over the past year among the thunders in digital currency investments. Coinbase has entrenched itself as the ruling crypto exchange in the U.S. It has generated more than $1 billion in revenues in 2020.
Fred Ehrsam
NET WORTH: $1.9 BILLION
Ehrsam is the co-founder of Coinbase along with Armstrong in 2012. He resigned from the company in the year 2017 but remains a board member, and his stake of 6% is estimated to be $1.9 billion. Today, he ushers the crypto-focused investment firm “Paradigm”.
Changpeng Zhao
NET WORTH: $1.9 BILLION
He is the founder of digital currency exchange Binance. He has successfully returned to the “three comma club”. The universal rise in digital currency investments uplifted Binance’s market valuation. Zhao has an estimated 30% hold in the company.
Barry Silbert
NET WORTH: $1.6 billion
Barry Silbert’s fate is associated with Digital Currency Group (DCG). It is a crypto conglomerate that was founded by Barry Silber in 2015. The crypto holdings of DCGs are the news site of crypto “CoinDesk” and also the asset management firm known as “Grayscale”. They control the worth of $44 billion of Bitcoin, Ethereum, and other crypto assets.
Chris Larsen
NET WORTH: $3.4 BILLION
LAST YEAR: $2.6 BILLION
He is the chairman and co-founder of “Ripple”. Chris grew his fate by $800 million as his firm’s XRP token soared in value. But in 2021 he held more than 3 billion XRPs and a 17% hold in “Ripple Labs”.
Jed McCaleb
NET WORTH: $2 BILLION
McCaleb is also a co-founder of Ripple. He derives the amount of his worth from his holding of 3.4 billion XRPs. He also owns an average value of $1 billion Stellar “Lumens”, the digital currency which he co-founded in 2014.
Conclusion
With the massive popularity and surge in cryptocurrency today, people are not stepping back. There are many cryptocurrency tycoons or billionaires whose names are getting added to the World’s Billionaires list. This is the impact cryptocurrency is having on the financial market now.
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