50% in Crypto, Bitcoin Billionaires: Who Made the List?
The resurgence of Bitcoin and the broader crypto market has created a new class of billionaires. Last year, the total value of all major cryptocurrencies rose 170%, adding nearly $1.6 trillion to the market, largely due to the legalization of spot Bitcoin exchange-traded funds (ETFs) in the United States.
This dramatic growth sent Bitcoin soaring to $73,000 in March, creating new billionaires.
17 Crypto, Bitcoin Billionaires
A new list of the world's billionaires shows a significant increase in the number of individuals achieving billionaire status through cryptocurrency. At least 17 have been spotted this year, compared to 9 last year, a nearly 50% increase.
These crypto moguls command a combined fortune of $93 billion. This wealth includes crypto assets, stock holdings and personal assets, which is a huge increase from last year's $37 billion.
Changpeng Zhao, founder and former CEO of Binance, is at the top of this elite group. Despite his legal struggles, including a guilty plea to US money laundering charges, Zhao's net worth has risen from $10.5 billion to $33 billion, making him the year's top crypto billionaire.
The success stories extend beyond Zhao. Microstrategy's Michael Saylor and Coinbase's Brian Armstrong have seen their fortunes grow to $4.4 billion and $11.2 billion, respectively, as their companies' share prices grow.
Both companies have seen their share prices quadruple over the past twelve months, reflecting their interest in digital currencies.
Read more: Who will have the most Bitcoins in 2024?
This year's list welcomes new entrants to the controversial yet highly profitable stable of coin issuers such as Giancarlo Devasini, Paolo Ardoino, Jean-Louis van der Velde and Stuart Hoegner. Existing stalwarts of the crypto market, such as the Winklevoss twins, venture capitalist Tim Draper and Ripple co-founder Jed McCaleb, continue to stand out in the market's booming ranks.
Here is the full list of top crypto and bitcoin billionaires:
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The narrative of crypto's rising billionaires illustrates the rapid evolution of the sector and its role in shaping the global financial system.
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