9 new crypto billionaires minted in the past year

Billions

Forbes has just put up its 35th Annual World Billionaires List, and as many as 12 crypto billionaires have made it this time, up from just 4 last year.

And we can lay this on the Bitcoin boom!

From the plunge of 40% in a day to below $5,000 on March 11, 2020, the world’s most popular cryptocurrency has come a long way in the span of a year. It touched its all-time high of $61,711.87 on March 13 this year, minting 9 new cryptocurrency billionaires along the way.

According to Forbes, the world’s wealthiest exploded to an unprecedented 2,755 this year — 600 more than a year ago. Altogether, they are now worth $13.1 trillion, also up from the $8 trillion on 2020 list.

When it comes to crypto billionaires, the business magazine has three groups. These are investors, builders, and issuers.

Investors include the Winklevoss twins, and the cofounder and CEO of MicroStrategy, Michael Saylor.

The twins are early investors in Bitcoin, having started in 2012. Their net worth stood at $3 billion. On the other hand, Michael Saylor started accumulating Bitcoin ahead of the current rally, and has a net worth of $2.3 billion.

Sam Bankman-Fried features as crypto’s wealthiest billionaire with a net worth of $8.7 billion. He came in at the 274th spot as the richest individual in the world. The second wealthiest crypto billionaire is Brian Armstrong, with assets worth $6.5 billion.

The CEO and cofounder of exchange Coinbase is currently busy taking his company public.

Changpeng Zhao, the founder of Binance, the world’s biggest crypto exchange in terms of volume, is the only returnee to the 2021 edition of the list. Zhao has assets worth $1.9 billion.

Among the coin issuers, we have Ripple cofounders Chris Larsen and Jed McCaleb, who had total asset worth $3.4 billion and $2 billion respectively. Despite the SEC shadow looming over it, Ripple has zoomed over 400%, with its total market capitalization currently standing at $44.5 billion.

This thing is just getting started!


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