Photo: zerohedge.com
The list ranges from the hardcore "hodlers" who had to place big bets on bitcoin, ethereum and other popular coins while their networks were still in their childhood, to krypto miners who win by running the distributed ledgers that allow systems like bitcoin networks to work.
Forbes officially distributed its crypto-rich list into five groups: idealists, builders, opportunists, infrastructure actors and establishment investors. Many fit into more than one category.
Forbes Publishes First "Richest People In Crypto" List
Cameron & Tyler Winklevoss:
Estimated Net Worth: $900 million-$1.1 billionAfter their portrayal as the antagonists to Facebook founder Mark Zuckerberg in the movie "The Social Network", the Winklevii have staged a staggering comeback. They bought bitcoin in 2012 and held on - with their combined fortune at one point being estimated at over $1 billion. Their crypto exchange, Gemini, recently surpassed $300 million in daily transaction volume.
Mike Novogratz:
Estimated Net Worth: $700-$1 billionNovogratz' hedge fund was an early investor in crypto. After shelving plans for a dedicated crypto fund late last year, Novogratz today revealed that he has raised about $250 million for his cryptocurrency merchant bank during one of the biggest routs yet in Bitcoin, according to a person familiar with the deal.
Vitalik Buterin:
Estimated Net Worth: $400-$500 millionButerin created ethereum - the first cryptocurrency that wasn't a bitcoin clone a la Litecoin. With Ethereum, Buterin introducd the idea of smart contracts operating on a blockchain. These contracts are capable of automating if-this-then-that-type systems that could someday be used in finance, real-estate and beyond.
Barry Silbert:
Estimated Net Worth: $400-$600 millionSilbert made his name as the founder of SecondMarket, which helps facilitated trading in private company shares. His second act was founding Digital Currency Group, which owns Greyscale - the operator of the bitcoin investment trust - and CoinDesk, the bitcoin news website. Silbert invested $100,000+ during the early days of bitcoin and, according to a recent Reuters story, he "cheerleaded his way to...riches."
Chris Larsen
Estimated Net Worth: $7.5 to $8 billionFor a brief period early last month, a short-lived rally in Ripple brought Larsen's net worth to approximately $55 billion - more than Facebook founder Mark Zuckerberg.
Of course, that wealth existed solely on paper, and Ripple swiftly spiraled lower, and, like the rest of the space, is currently trading at less than half of its peak. Larsen founded Ripple as a payments network to help facilitate global payments. But though there have been some flirtations with the app Moneygram saying it would experiment with Ripple's software (which is separate from the digital tokens) few others have followed suite.
Joseph Lubin
Estimated Net Worth: $1 billion to $5 billionThe former Goldman executive was one of the first people to join Buterin in helping to build the Ethereum network. He later went on to found Consensys, which has partnered with Microsoft to provide the building blocks for distributed systems through MSFT's Azure platform.
Tim Draper
Estimated Net Worth: $350 - $500 millionA longtime Silicon Valley VC and founder of Draper Associates was an early investor in bitcoin. Though recently he has made some high-profile missteps, investing in Tezos and Bancor - two ICOs that are bedeviled with problems. Bancor's tokens have plummeted in value, while Tezos hasn't yet released the tokens it promised investors who participated in its crowdsale over the summer.
Read more: zerohedge.com
Mike Novagratz knew a crash was coming late last year. He decided not to continue his BTC/alt fund because he says he “Didn’t like market conditions.”🧐🤓🤨
Followed & resteemed!!
At one point it is really scary to see how easily people are becoming millionaire through crypto but at the same time interesting too.
I am sure during the early days of internet and dotcom bubble,same kind of things had happened.
This has always happened in history. People becoming rich super fast. I'm sure the oil guys also gained profits mega quick. Life still goes on. The new millionaires will start to chill more and feel comfortable with their position and new hungry people will take their place. But we are always creating more abundance.
These people eventually do epic things with their money and push it back into the economy. Since they are becoming so bored at just sitting on the money. It should be like Spotify. Be streamed out into the world and be shared to all who needs some!
@phoneinf, you are super true about oil. Reading book about Rockefeller's time (oil magnate, early adopter) I was amazed at how the situation with oil is like that of crypto now. He is saying that "firstly the profits were so thick that everyone was becoming rich", and that early miners and refinerers were becoming very rich and in a short span of time. It was risky, the price was volatile, but the ones who managed to survive got extremely rich. Many people went bancrupt also. Just like with crypto.
You remember people say history repeats itself and that is the same happening right now.
If you invest money you can't afford to lose then that's bad lol. Play it safe always the genius idea! Thankfully there is so much more opportunity these days to bank. So many 100s of various ways you can bank by using the Internet. Which is very awesome for people that are willing to work hard!
Clearly the oil era was more risky since it required you to invest more physical energy. These days you can generate value in the comfort of your own home. Clearly also these boys early in the Crypto industry will become extremely rich. And perhaps can even leverage that into AI research to bank some more!
Especially since we are more people on earth and we are starting to make all global there truly is more cash in this industry! And it's also open for more people all you need is an Internet connection and you are ready to go!
Yeah, Phoneinf, that is so true. I have read history a little bit and watched documentary about the richest people of ealry 20th century like Carneige Mellon, Rockerfeller, Thomas Edison and many more. It happened same with them.It is all about time and finding out the opportunity.
Yes! Finding what people will do more of in the future. Clearly people will use technology and digital stuff even more in the future. So the price will go up! It sounds too good to be true but this is just simple math. 9 billion humans on earth soon. And all want to be on the Internet to connect with others. And clearly people are tired of paper money and need something that is faster to use and that can work with ease globally.
Amazing to think that any one person can have that much or be worth that much. Don't get me wrong, I would love to have a vast fortune myself but I can't even imagine having more money than some small countries. These guys are the people that got in on the ground floor when no one else would get involved or take a chance on crypto. If only I was that aware or had the money to take those chances. lol The scary part of this is that we are really just in the early stages of the crypto boom and as the market grows so will their wealth. I'm looking forward to hearing down the road about all the charitable causes these guys are involved in.
Eventually all services and objects will be free. Since it will be so cheap to produce. We are creating more abundance for every day that we move into the future. Have a look at how much Jeff Bezos is worth. The crypto boys are still so far behind!
As you said the crypto boom has just begun. The best charity they can do is to invest in an AI that will take care of us all. An AI that can work like a coach and tell us exactly what we need to do to get the best results in life. Maybe when singularity happens that we can pull this off! What will humans then spend time on doing will be fun to see. Since we always want to expand and create something new.
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I like CZ. Binance is the greatest exchange. Thank you CZ
Except it's been down for a couple days and could have been compromised.
Wow, those figures are just mind-boggling! I also wish I'd been aware of cryptography currency to buy even a little. I'd probably be a millionaire by now.
Post Redeemed.
You can still be a millionaire! You are still an early adopter haha. We haven't even started yet to hit the mainstream with most coins. Still so few that knows about these magical things. I'm looking forward to the smart media token revolution!
Always good to ask how you would live if you would be a millionaire. And start living like that right now. The money will follow. Usually what you would detect is that more money wouldn't really change your life that much. Other than be able to buy an extra subway sandwich with extra jalapenos on a Saturday morning.
I agree, it's just the beginning.
Incredible to see how people become millionaires through trading. It serves as motivation and inspiration to invest in cryptocurrency.
Interesting news, but I am curious how do they estimate the value of one's holdings.
You have completed the task perfectly my friend. You are great, we can benefit from your post. congratulations on all your accomplishments.
@yalamlamsteem
Anyone else love the fact hes wearing a hoodie?
Thanks for posting this i tried to find it and couldn't! im going to re steem it!
Coins mentioned in post:
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I was fortunate enough to meet Tim Draper in person at an Entrepreneurship networking event. He's such a great man! Learned a lot that day :D
Joseph Lubin is the man. I knew a Goldman would be one of those early millionaires in crypto. That man makes bankstas happy. Reestimed!
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Thanks tradewonk for posting. I really like to read stories about individuals who took risks, even if it appeared insane at the times to others. The old saying applies, "the greatest the risk, the greater the potential reward!"
Market condition is sensitive for investers now days this post is informative
Well, looks like I didn't make the list, lol.
things looking up as the glorification of bitcoin starts coming into play
Awesome list! Thanks for sharing!
You really know it's getting into the mainstream when Forbes starts tracking them and when you see the numbers we're talking about, it is understandable.
Thank you for the post.
If Satoshi Nakamoto is indeed a living individual, he/she can be the richest out there. Maybe even the first trillionaire in the world if BTC reaches 100k. This is a very interesting list since most of the early crypto holders would want to remain anonymous for security purposes.
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Thanks for posting this @tradewonk , i hadnt had a chance to read it on Forbes.
Wow... This is great
I would really like to be among this lost someday, but am quite new here. How do I go about that?
It's amazing!
Excelente articulo.La razón de esta riqueza súbita, es que estas personas tuvieron una visión de un negocio disruptivo exitoso a largo plazo y apostaron a esa visión. Manteniéndose firme desde el inicio, en su propósito.
Haha, would be beneficial to include single they are or not))
how many more crypto millionaires and billionaires will we have in 5 years.
Cryptocurrency is the internet of money the rich list will get bigger.
Too bad they did not also post a list of the people that have LOST their investments when their exchange/wallet was hacked and everything 'disappeared'. I've lost track of the number of exchanges that have gone out of business at this point, with customers having no chance to recover their funds.
Obviously, the opportunities in crypto are amazing, but we need to be aware of the risks as well. Always a good idea to spread out your investments and keep your coins as safe as possible by using multiple wallets, paper keys, etc.