March 1, 2024 Breaking News, Latest News, and Videos

Five People Who Became Wealthy by Investing in Bitcoin

Bitcoin has been one of the most successful digital assets since its inception in 2009, and it has created a surprising and diverse set of millionaires. These extremely wealthy people have made money by creating products to grow the Bitcoins system. For instance, some have created exchanges for trading the cryptocurrency and its derivatives, while others have used it to develop financial products and tokens that have minted millions. Here are the top five individuals who immersed a lot of wealth from investing in this digital asset.

  1. Changpeng Zhao [CZ]

Changpeng Zhao immigrated to Canada at the age of 13from China and came to Bitcoin via a poker game with friends. Later on, he went all-in on cryptocurrency and even sold his apartment for Bitcoin in 2014. 

Changping Zhao is the founder of Binance, the biggest cryptocurrency exchange in the whole world by trading volume. However, btc profit is another great website that people can trade with comfortably. In 2017, Binance started, and it handles all transactions that run into billions of dollars every day. The Bloomberg Billionaire Index highlighted that Changpeng Zhao had $96 billion in January 2022. The publication also indicated Zhao’s fortune could be significantly higher since their estimate does not consider his crypto wallet, which includes his holdings of Bitcoin and Binance Coin, the cryptocurrency used for transactions in Binance. 

As of April 2021, Forbes also estimated Zhao’s net worth to be $1.6 Billion. Binance is also referred to as a coin base by US citizens, and it is bigger and offers more coins and derivatives to customers than its competitor.

  1. Erick Fineman

Erick Fineman borrowed his grandmother $1000 to invest in Bitcoin when each Bitcoin was worth $12 in 2011. He was only 11 years old and was able to invest in this digital asset with the help of his brother. By the end of 2013, the value of Bitcoin became $1200, so he made a fortune. 

By January 2015, Erick Fineman had his own education company, and later on, he sold his education company where he got offered either to accept 300 Bitcoins or $100,000. He decided to take Bitcoins and achieved his goal of becoming an 18-year-old millionaire and won’t be attending college. 

  1. Winklevoss Brothers

The Winklevoss brothers, Tyler and Cameron Winklevoss were one of the earliest Bitcoin investors. They turned the millions they earned from their lawsuit against Facebook into cryptocurrency. As a result, they became the first billionaires in the crypto market after the late 2017 rise in Bitcoin prices. Forbes estimates their net worth at $5 billion each. 

Aside from some of their cryptocurrency wealth from investments in Bitcoin, they are also entrepreneurs. They started the Gemini cryptocurrency exchange, valued at $1.7 billion, after its $400 million fundraising in November 2021. They also own Nifty Gateway, a platform that facilitates buying and selling of NFTs.

  1. Michael Saylor

Michael Saylor is the CEO of a software firm known as MicroStrategy Inc. [MSTR]. The firm began acquiring cryptocurrency in august 2020 by snapping up Bitcoin worth $250 million. At that time, the firm said that it was buying the cryptocurrency to better use the cash holdings on its balance sheet. 

  1. Peter Saddington

Peter Saddington, from Atlanta, first heard about Bitcoin in 2011 and bought some for less than $3 per coin. Earlier investors earned profits worth 250,000% when Bitcoin’s price rose to about $7,500. At the time, Peter Saddington gained steadfast confidence in this digital asset since Bitcoin relies on math so that no one can turn it off.

Final Thoughts

Since Bitcoin became popular, the number of people making Billions from this digital asset has increased. 

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