Who are the cryptocurrency billionaires Near in your area?
Achieving millionaire status in the volatile world of cryptocurrency is no easy feat, and often asterisks and caveats are assigned to that title. However, an elite group of cryptocurrency investors has reached the near-mythical status of crypto billionaires. Crypto casino experts at Wegamble have done the legwork to identify these well-positioned unicorns who found ways to build significant wealth in the cryptocurrency universe.
Where Do Cryptocurrency Billionaires Live?
According to the study by Wegamble.org the United States claims the most crypto billionaires per capita, with nine making the shortlist. China is a distant second, with two making the cut. Canada, Saint Kitts and Nevis, and South Korea round out the list with one crypto billionaire each. Much of the United States’ appeal to cryptocurrency investors is linked to its generous supply of cryptocurrency exchanges and an increasingly crypto-friendly regulatory system.
Another factor is the growing investment by major corporate players such as Tesla, Square, and MicroStrategy in the all-but-mainstream cryptocurrency Bitcoin.
China is home to two of the most vital entities in the day-to-day cryptocurrency world: Binance and Bitmain, and their founders (Changpeng Zhao and Jihan Wu) rank high on Wegamble’s list. Song Chi-Hyung, the South Korean founder of the Upbit cryptocurrency exchange, has also reached crypto billionaire status.
Notable Cryptocurrency Billionaires
Among the most recognizable names on Wegamble’s shortlist of crypto billionaires are Cameron and Tyler Winklevoss, the Harvard-educated twins formerly associated with Meta founder Mark Zuckerberg. The brothers have a combined net worth of over $3 billion and are co-founders of the Gemini cryptocurrency exchange.
Other entries on the list may not be household names, but their presence is definitely felt in the traditional and crypto investment arenas. They include Tim Draper, Michael Novogratz, Brian Armstrong, Dan Larimer, Anthony Di Iorio, Barry Silbert, Brad Garlinghouse, Roger Ver, Jihan Wu, Matthew Roszak, Brock Pierce, Gary Wang, Song Chi-Hyung, and Jed McCaleb. A few of these short-listers are not currently considered billionaires. Still, they are well-positioned to enter that rarefied air in the next few years.
Why Is The List So Short?
While a Forbes-based list of traditional billionaires may stretch on for a few pages, the list of verified cryptocurrency billionaires could fit comfortably on a graphic t-shirt. One glaring reason is the sheer volatility of the cryptocurrency market. A standard-issue Bitcoin millionaire on Monday can, and often does, become a Bitcoin pauper on Wednesday, until breaking even on Friday. The crypto billionaires on Wegamble’s shortlist own the means of production outright or have invested enough of their considerable personal capital to weather the storms.
The relative newness of the cryptocurrency market also contributes to the paucity of recognized crypto billionaires. In ten or twenty years, especially with improved regulatory measures and greater interest in cryptocurrency, the list of crypto billionaires – or even the emergence of a crypto trillionaire – could grow exponentially.
Is There Hope for The Rest of Us?
The fact that even a handful of cryptocurrency billionaires exist should provide some comfort and incentive for potential crypto investors with fewer zeros in their net worth statements. There are several ways to invest in cryptocurrency without incurring large fees or creating an alternative and uncertain financial universe.
Owning your own cryptocurrency exchange or funding a massive data mining operation might not be realistic goals for most cryptocurrency investors, but researching and investing in the most promising forms of cryptocurrency is rapidly becoming a solid part of any personal financial plan.
It is important to remember that cryptocurrency investment may feel nebulous compared to standard investment forms, such as ETF and mutual funds, but it can still affect any investor’s tax bracket. Potential cryptocurrency investors should always consult with a professional financial adviser before assuming this level of risk.