Ever wondered who the richest people in the cryptocurrency industry are? With over 700% gains in BTC over the last year (as of publishing date), it is no secret that crypto billionaires are being created everyday.
And they aren’t your usual billionaire either. The majority of crypto billionaires are geeks & visionaries, who saw the opportunity in blockchain technology and decided to take it. With pseudo-anonymity one of the core pillars of blockchain transactions, it can be difficult to ever identify exactly who these billionaires are.
Forbes has presented, what they estimate to be, a list of 19 of “Crypto’s Richest” or the “Prophets of Boom”. In order to identify them, they evaluated post-tax profits from trading crypto-assets, stakes in crypto-related businesses and estimated holdings of cryptocurrencies, (not all were willing to provide proof of their holdings).
In order to qualify as one of these “winners of this digital lottery”, the estimated wealth had to exceed $350 million. With an average age of 42, compared to the average age of 67 found in Forbes 400 list of wealthiest Americans, the crypto boom has redefined the average billionaire.
From the 24 year old socially awkward programmer Vitalik Buterin, who started building Ethereum, an $80 billion blockchain network, at 19 years old; to Canadian Chinese developer Changpeng Zhao, who in less than 7 months has built one of the top performing exchanges in the world (with over 1.4 million-transactions processed per second); the list of the richest people in cryptocurrency is a showcase of entrepreneurs who have taken full advantage of the exploding blockchain industry.
Forbe’s notes how difficult it was to identify and estimate the scale of wealth of these “newly minted crypto rich” and are aware that there may be many unknown figures, that should actually be on the list; “The virtual currencies exist almost entirely outside the global financial system, and the newly minted crypto rich live in a strange milieu that blends paranoid secrecy with ostentatious display”.
One thing is certain, the figures may not be 100% accurate and there are definitely people missing, but if anything, these crypto winners are blockchain pioneers whose public presence and reputations can no longer afford them the privilege of hiding their wealth in the shadows.