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Crypto Billionaires: Why Are They Growing So Fast?

With each passing day, the adoption of the crypto market is increasing. This indicates investment in multiple crypto projects.

Many people are gaining interest in crypto and have started investing in crypto projects due to its great success stories that can be found all over the internet.

From crypto investors, who bought BTC worth tens and hundreds of dollars and chose to hold over the years, to crypto whales who started a crypto-related business are among the key crypto enthusiasts.

It is possible to become a crypto whale by trading well, building a business, investing well, or already having a decent fortune, so being significantly active in the crypto market with large corporations is possible.

The crypto market is emerging with each passing day, and there are many opportunities for crypto investors and whales to grow their assets and become crypto billionaires.

Relatable: BEST CRYPTO TO BUY NOW (UPDATED 2022)

The Crypto market is said to be very volatile; however, it brings with it inevitable risks and opportunities. Despite this, there are great profits for the many new crypto companies.

Relatively young companies have started developing Decentralized applications (DApps). These focus on Web3, the evolution of the existing World Wide Web.

How many crypto billionaires are there?

There are 19 crypto billionaires, but the future will tell if Vitalik Buterin and Satoshi Nakamoto are also among these rich crypto investors.

To find what a crypto billionaire is, it is helpful to define this term first.

A crypto billionaire might have earned wealth by investing in crypto-related companies or cryptocurrencies. The crypto market is relatively young, so we can say that crypto billionaires have become rich by combining both possibilities.

Therefore, we don’t distinguish between billionaires as long as they have earned their wealth via the crypto world.

Of these 19 wealthy crypto investors, 16 have US passports. As the identity of Bitcoin creator Satoshi Nakamoto is unknown, no one is sure if another 17th American crypto billionaire on the globe or not. If the unknown founder of Bitcoin turns out to be one person, then there is no doubt he is a crypto billionaire.

Richest crypto billionaire

Crypto Billionaires: Why Are They Growing So Fast?

Changpeng Zhao is the richest crypto billionaire. He is the CEO of one of the greatest crypto trading platforms, Binance. He has assets that exceed 20 billion and belongs to the richest people on Earth.

Changpeng Zhao is also known as CZ. He owns more than 70% of Binance’s shares, and these shares show quite a bit of value. Indeed, Binance is one of the crypto companies that own many Bitcoin.

It is keeping the cryptocurrency millionaire dream of many crypto investors by giving many people the opportunity to invest and trade in altcoins and bitcoins.

Furthermore, to its stake in Binance, CZ has Bitcoin in its investment portfolio. But BTC is not the only cryptocurrency that CZ owns; he also privately holds a lot of BNB coins.

Other than CZ on the list of richest crypto billionaires are Brian Armstrong and Bankman-Fried, Coinbase, and FTX Exchange founders, respectively. So, serving the needs of people in the crypto industry can be a great business resulting in amazing profits.

Other than crypto exchange founders, there is one more possible billionaire, Satoshi Nakamoto, who seems to be the holder of BTC. Out of 1.1 million BTC, Satoshi holds most of the BTC. If this huge amount of BTC would be enough to depose CZ from Binance is still a topic of debate.

Youngest Crypto billionaire

Crypto Billionaires: Why Are They Growing So Fast?

Sam Bankman-Fried, the CEO of FTX Exchange, is the latest crypto billionaire. When the prices of Ethereum rose, The CEO and founder of Ethereum, Vitalik Buterin, became the youngest crypto billionaire.

Two people are now fighting the battle for who is the youngest crypto billionaire. There are times when Vitalik Buterin is the youngest crypto billionaire, alternating the title with Sam Bankman-Fried.

Both have two years of an age gap between them, with Bankman-Fried being older than Vitalik Buterin. However, age is not an important factor to consider, but the value of Ethereum and its popularity is what decides the title.

When the Ethereum price rises, the value of Vitalik’s assets rises. He owns more than 290,000 ETH, the largest portion of his assets. But, when the price falls, Vitalik is no longer considered on the list of billionaires.

With a favourable Ethereum price, Vitalik is the title holder, but otherwise, Sam Bankman-Fried is considered the youngest crypto billionaire.

The owner of FTX Exchange has an overall wealth of over $22 billion. The speed at which Sam is achieving success has not earned him this title, but also he has become the fastest billionaire.

This title was previously owned by Mark Zuckerberg, the owner of Meta. Of course, Sam Bankman-Fried also owns the necessary Ethereum tokens and other altcoins, making his assets worth a lot more.

Bitcoin Whales: The largest BTC holder

Crypto Billionaires: Why Are They Growing So Fast?

Satoshi Nakamoto has over 1 million Bitcoins, making him the largest Bitcoin holder. He is followed by the founders of Binance, and Grayscale, who together have about the same amount of BTC as Satoshi Nakamoto.

When looking at the largest Bitcoin holders, a few parties stand out. Obviously, Satoshi Nakamoto, with a total of 1,100,000 bitcoins, has more significant holdings than number 2 and 3 holders of Bitcoin, namely Grayscale and Binance. These companies have more than 600,000 BTC and 400,000 BTC.

Behind these top 3 bitcoin holders are the cryptocurrency exchanges such as OKX and Bitfinex, which hold more than 200,000 BTC. Then, with MicroStrategy and Block.one, two more parties own over 100,000 bitcoins.

Wrapping Up

It is significant to consider that many BTC allow Bitcoin whales to form a buy or sell wall effect. A buy or sell wall effect is an important buy or sell order that causes a sharp price change. With a sell wall, there is a great chance that the price will fall hard, while the reverse can happen with a buy wall.

Mufasa
Mufasa
Mufasa is the lead writer at CryptoMufasa who likes to share all the latest info on the crypto world with you! Mufasa Enjoys enjoys a good read and recommendations so don't forget to comment on the posts and let him know.

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