Bitcoin, the world’s first decentralized digital currency, has created a buzz in the financial world since its inception in 2009. Over the years, the cryptocurrency market has experienced some significant fluctuations, with bitcoin being no exception. However, despite the volatility, some individuals have made a fortune out of investing in bitcoin. In this article, we will explore who has made the most on bitcoin.
The first name that comes to mind when talking about bitcoin is Satoshi Nakamoto, the creator of bitcoin. However, the identity of Satoshi Nakamoto remains a mystery, and it is estimated that he owns about 1 million bitcoins, which translates to around $34 billion at the current market price. However, since Nakamoto has never spent any of his bitcoins, it is tough to say that he has made any money on it.
One of the most well-known bitcoin millionaires is the Winklevoss twins, Tyler and Cameron. The twins are famous for their legal battle with Mark Zuckerberg over the ownership of Facebook. In 2013, the twins invested $11 million in bitcoin, buying around 120,000 bitcoins. At the current market price, their investment is worth over $4 billion, making them one of the richest people in the world. The twins have also launched their cryptocurrency exchange called Gemini, which has been gaining popularity in recent years.
Another individual who has made a fortune on bitcoin is Barry Silbert. Silbert is the founder and CEO of Digital Currency Group, which is a venture capital firm that invests in blockchain and cryptocurrency startups. Silbert was an early adopter of bitcoin and bought around 48,000 bitcoins in 2014 when the cryptocurrency was trading at around $350. At the current market price, Silbert’s investment is worth over $1.5 billion.
The CEO of MicroStrategy, Michael Saylor, has also made a considerable amount of money on bitcoin. Saylor has been a vocal advocate of bitcoin and has been investing heavily in the cryptocurrency since August 2020. MicroStrategy has invested over $2.2 billion in bitcoin, buying around 91,000 bitcoins. At the current market price, MicroStrategy’s investment is worth over $3.2 billion, making Saylor one of the most prominent bitcoin millionaires.
The CEO of Tesla, Elon Musk, has also been investing in bitcoin, although his investment is relatively small compared to the others on this list. In February 2021, Tesla announced that it had invested $1.5 billion in bitcoin, buying around 42,000 bitcoins. At the current market price, Tesla’s investment is worth over $1.7 billion. Musk has also been tweeting about bitcoin, causing the cryptocurrency’s price to fluctuate.
In conclusion, bitcoin has created a new class of millionaires and billionaires, with some individuals making a fortune out of investing in the cryptocurrency. While the list above is not exhaustive, it highlights some of the most prominent bitcoin millionaires. As the cryptocurrency market continues to evolve, it will be interesting to see who will make the most on bitcoin in the coming years.