Counting the wealth history of Bitcoin billionaires, uncovering the new round of wealth codes

Author: Daniel Phillips & Ali Shutler

Compiled by: BitpushNews Yanan

Many early investors in Bitcoin have now become billionaires, joining the ranks of the world's wealthiest individuals. However, compared to the immense wealth that Satoshi Nakamoto may possess, their assets might seem insignificant.

The rapid rise of Bitcoin and the entire cryptocurrency industry has created several early investors who have thus leaped to become billionaires.

After the surge in Bitcoin prices at the end of 2020, the Winklevoss brothers once again joined the ranks of Bitcoin billionaires.

However, the wealth of Bitcoin's creator, Satoshi Nakamoto, is even more astonishing, estimated to be as high as $40 billion, which is out of reach for most.

Since Bitcoin led the cryptocurrency revolution in 2009, the sector has developed rapidly. Although some early users purchased pizzas with Bitcoin, cryptocurrency has largely become synonymous with wealth.

Reports indicate that as of June 2024, there are 15 billionaires on Forbes' real-time billionaire list whose wealth primarily comes from the cryptocurrency sector, a significant increase from 9 in 2023. However, it is worth noting that at the beginning of 2024, there were 17 cryptocurrency billionaires on the list, highlighting the volatility of the cryptocurrency market.

As of the publication of this report, Bitcoin's market capitalization has soared to an astonishing $1.3 trillion, accounting for half of the global cryptocurrency market cap of $2.6 trillion. Looking back over the past year, the cryptocurrency market has experienced remarkable growth, with an overall market cap increase of 134%. By June 2024, the circulating supply of Bitcoin had approached 19.7 million coins, representing 94% of its 21 million cap, showcasing Bitcoin's strong market performance.

In this cryptocurrency feast, early investors play a crucial role. Many of them have keenly captured the market's pulse, reinvesting profits back into the crypto space, thus achieving an astonishing leap in wealth from millionaires to billionaires. However, some investors choose to remain low-key, preferring to quietly enjoy the fruits of this capital feast rather than flaunting their wealth in the spotlight.

According to authoritative data from BitInfoCharts, there are currently 56 Bitcoin wallets with assets exceeding $1 billion. However, a deeper analysis of this data reveals that not all holders of these vast fortunes are individual investors; many are companies or enterprises.

Additionally, several crypto whales have chosen to remain anonymous, with some reportedly never having touched their vast Bitcoin assets. This raises the question of whether they have lost their private keys.

Reports indicate that holding Bitcoin can significantly enhance portfolio performance. Therefore, it is not difficult to speculate that many billionaires may have ventured into Bitcoin investments. However, in this list, we focus on those major players who have primarily accumulated wealth through Bitcoin, revealing how they have emerged in the tide of cryptocurrency and ultimately reached the pinnacle of wealth.

Tim Draper (Net worth: $2 billion)

Tim Draper, a prominent figure in Silicon Valley's venture capital scene, primarily accumulated his wealth through astute traditional investments. However, in 2014, he made headlines by purchasing nearly 30,000 Bitcoins seized from the Silk Road dark web at a price of $630 each. That same year, he predicted that Bitcoin would break the $10,000 mark within three years, and his prediction was only off by a month.

Although his prediction that Bitcoin would reach $250,000 by the end of 2022 did not come true, it did not diminish his enthusiasm for the crypto market. In April 2024, he made another bold statement: "From $250,000 to $10 million, Bitcoin knows no ceiling."

Additionally, Draper has also ventured into the blockchain and smart contract space, investing in numerous related companies. To further explore the potential of the crypto market, he founded a venture studio focused on this field—Draper Goren Blockchain (DGB) in September 2023.

Michael Novogratz (Net worth: $2.5 billion)

Novogratz began his career at Goldman Sachs in 1989 and later became a regular on the billionaire list. However, in 2013, he faced a situation where his wealth shrank by two-thirds. It was also in that year that he began to venture into Bitcoin investments.

Since then, he has immersed himself in the crypto market, widely investing in startups and various tokens, and founded the digital asset and blockchain company Galaxy.

However, his journey in crypto investments has not been smooth sailing. He had high hopes for the token Luna, associated with the algorithmic stablecoin TerraUSD, but the market crash in 2022 hit him hard. This turmoil may be a significant factor leading to his net worth plummeting from $4.8 billion in 2021 to the current $2.5 billion. Nevertheless, Novogratz's confidence and enthusiasm for the crypto market remain unaffected. In June 2024, he confidently predicted that Bitcoin could break the $100,000 mark by the end of the year.

Winklevoss Brothers (Net worth: $2.7 billion)

You may know that Cameron Winklevoss and his twin brother Tyler accused Mark Zuckerberg of stealing their idea for creating Facebook, but you might not know that they have also embarked on a new chapter as advocates for cryptocurrency after the film "The Social Network" (Note: "The Social Network" tells the story of Mark Zuckerberg's creation of Facebook, revealing his disputes with co-founders and the rise of Facebook).

The two brothers co-founded the cryptocurrency exchange—Gemini. However, after the crypto market suffered a heavy blow in 2022, Gemini faced difficulties due to the bankruptcy of the cryptocurrency lending company Genesis.

Despite this, they still hold about 70,000 Bitcoins, which is enough to secure them billions in wealth. They used part of their funds to invest $4.5 million in the ninth-tier American football club Royal Bedford.

Jed McCaleb (Net worth: $2.9 billion)

Shortly after Bitcoin's inception, McCaleb was inspired by his work in creating a trading market for "Magic: The Gathering" users and founded the first Bitcoin exchange—Mt. Gox. In February 2011, he sold this startup exchange to a developer capable of leading it to new heights at an undisclosed price, while retaining a minority stake in the company.

However, in the following years, Mt. Gox suffered a series of hacking attacks and was ultimately forced to shut down in 2014, despite handling up to 70% of Bitcoin transactions at that time.

It is worth mentioning that during his time running Mt. Gox, McCaleb did not stop his progress. In 2011, he founded the Ripple cryptocurrency network and co-founded the Stellar cryptocurrency network in 2014.

Matthew Roszak (Net worth: $3.1 billion)

Matthew Roszak, co-founder of blockchain infrastructure provider Bloq, is a pioneer in the cryptocurrency field. He purchased his first Bitcoin in 2012 and praised it as "one of the greatest technological, financial, industrial, and humanitarian innovations of our time." He subsequently invested in over 20 Bitcoin startups, including BitFury and BitGo, showcasing his keen business insight. Additionally, Roszak advocated gifting $50 in digital assets to every member of Congress, which, despite mixed feedback, undoubtedly made a positive attempt to promote and popularize cryptocurrency.

Jean-Louise van der Velde (Net worth: $3.9 billion)

After years of deep involvement in the tech field, Jean-Louis van der Velde co-founded the cryptocurrency exchange Bitfinex in 2013, which is still regarded as one of the longest-running and most liquid major exchanges today. In addition, he served as the CEO of the stablecoin issuer Tether until 2023. However, it is rumored that he still holds about 20% of Tether's shares.

Paolo Ardoino (Net worth: $3.9 billion)

After van der Velde stepped down, Ardoino took over as CEO of Tether and became the company's new public spokesperson. His career began as a programmer, and he joined Bitfinex in 2014 as a senior software developer. As Tether rose to become a leading issuer of crypto stablecoins, he also became involved in Tether's operations. Last year, the company's interest income reached $6.2 billion, and as a major shareholder with a 20% stake, Ardoino also reaped significant rewards.

Michael Saylor (Net worth: $4.8 billion)

Saylor is one of Bitcoin's staunch advocates, famously likening cryptocurrency to "a swarm of network bumblebees serving the goddess of wisdom," leaving a lasting impression. He has long been a firm supporter of Bitcoin, although his recent attitude towards Ethereum seems to have shifted.

In 1989, he co-founded the software company MicroStrategy. Subsequently, the company made significant purchases of Bitcoin as financial assets. As of March 2024, reports indicate that MicroStrategy's Bitcoin holdings are valued at $13 billion, while Saylor himself holds over $1.2 billion in cryptocurrency. Notably, he revealed in 2020 that he owned 17,732 Bitcoins.

Giancarlo Devasini (Net worth: $9.2 billion)

Giancarlo Devasini serves as the CFO of stablecoin issuer Tether and is reported to hold 47% of the company's shares. Tether is the third-largest cryptocurrency by market capitalization, having issued over 100 billion Tether tokens. Additionally, the company is one of the largest holders of Bitcoin globally, with its Bitcoin holdings valued at over $5 billion.

Brian Armstrong (Net worth: $10.9 billion)

Brian Armstrong, a former software engineer at Airbnb, co-founded the cryptocurrency exchange Coinbase in San Francisco in 2012. Coinbase is the leading crypto exchange in the U.S., and he currently holds about 19% of the company. Coinbase successfully went public in 2021 with a valuation of up to $100 billion; however, as of June 2024, its valuation has fallen to around $62.6 billion. Nevertheless, the exchange still achieved a profit of $273.4 million in the fourth quarter of 2023. In February of this year, Armstrong sold 2% of his Coinbase shares for $53.2 million, which he then reinvested into some cutting-edge startups, including his longevity company NewLimit.

Changpeng Zhao (Net worth: $33 billion)

Reports indicate that the world's largest cryptocurrency exchange, Binance, is controlled by founder Changpeng Zhao, who holds 90% of the company. Binance was established in 2017 and quickly raised $15 million through an initial coin offering (ICO), although this figure has been subject to controversy. Since then, the company's growth momentum has been strong. By 2023, the exchange accounted for half of centralized cryptocurrency spot trading. However, that same year, CZ faced setbacks; after settling with the U.S. government, Binance was forced to pay a $4.3 billion fine. CZ also resigned as CEO after admitting to money laundering charges and was sentenced to four months in prison, starting in June 2024. He will become the "richest person" in a U.S. prison.

Satoshi Nakamoto (Net worth: $76.67 billion)

The mysterious founder of Bitcoin, known by the pseudonym Satoshi Nakamoto, has not made a public appearance since releasing the white paper titled "Bitcoin: A Peer-To-Peer Electronic Cash System" on October 31, 2008. This white paper detailed his unique insights into blockchain-based digital currency. Since then, Bitcoin has dominated the rapidly evolving cryptocurrency industry, yet Satoshi's true identity remains a mystery.

It is worth noting that Satoshi still holds approximately 1.1 million Bitcoins and has never conducted any transactions. These Bitcoins seem to have vanished without a trace and are widely believed to be lost. However, if these Bitcoins were ever to flow out of Satoshi's wallet, it would undoubtedly cause a stir and serve as strong evidence that this mysterious Bitcoin creator is still alive.