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18 July 2023
19 People Worldwide Become Billionaires Through Crypto

19 People Worldwide Become Billionaires Through Crypto

Despite recent crypto market declines amid increased regulation, 19 fortunate traders have attained billionaire status globally thanks to amassing massive cryptocurrency fortunes.

Bitcoin has generated huge returns for some investors and created massive cryptocurrency fortunes. The largest Bitcoin holder is presumed to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin. While Nakamoto's exact holdings are unknown, estimates suggest they control a wallet with around 1.1 million BTC according to data from BanklessTimes.com. Despite Nakamoto never publicly confirming their Bitcoin wealth, analysis indicates they likely possess over a million BTC from mining and the earliest activities on the Bitcoin network. This enormous stash would be valued at over $25 billion at current Bitcoin prices if the estimated ownership is accurate. Bitcoin's creation and early mining have allowed its founder to amass substantial unrealized gains as the value of BTC has skyrocketed.

At current valuations, Nakamoto's estimated 1.1 million BTC could amount to an immense $25 billion fortune.

The second largest Bitcoin billionaire is reportedly Changpeng Zhao, founder, and CEO of Binance, with an estimated $65 billion in crypto holdings. Before his scandal, Sam Bankman-Fried ranked third at $24 billion according to the report.

Analyzing Bitcoin ownership by country, the US leads with 46 million holders, followed by India at 27 million and Pakistan with 26 million. However, ownership concentration remains high, with just four wallets controlling 663,306 BTC collectively.

While Bitcoin has created vast wealth for early proponents like Nakamoto, the vast majority of supply and value is consolidated in a small number of wallets. The US hosts the most Bitcoin account holders, but true ownership still lies with a few whales controlling sizable stashes worth tens of billions.

In addition to individual investors, several major corporations have amassed substantial Bitcoin holdings. According to the report, 23 publicly traded firms have made sizable investments in BTC.

The company with the largest corporate investment is MicroStrategy, which holds an impressive 129,699 BTC worth around $4 billion. Another high-profile example is Tesla, which purchased $1.5 billion of Bitcoin in 2021 and briefly accepted it as payment. However, Tesla later sold off much of its Bitcoin stash in 2022.

While bitcoin's wealth creation has been dominated by wealthy individuals, increasingly companies are allocating portions of their cash reserves to speculative bitcoin investments. MicroStrategy leads with over $4 billion tied up in Bitcoin, followed by other adopters like Tesla. Corporate bitcoin accumulation represents a small but growing trend as firms dabble in cryptocurrency.

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