Bitcoin is a digital asset and payment system with a market value of about $1.35 trillion as of April 10, 2024. It’s widely seen as one of the most successful digital currencies. Since its launch in 2009, Bitcoin’s dramatic rise has created many millionaires and billionaires.
In October 2021, the launch of the first Bitcoin exchange-traded fund (ETF) helped its price peak at $69,000. By June 2024, Bitcoin had reached $77,000 on the Exmo exchange in Poland.
However, it’s hard to determine who holds the most Bitcoin because wallet addresses are anonymous unless the owner publicly reveals their holdings. Here’s a look at some top entrepreneurs and investors known for their Bitcoin wealth. Many of these individuals have built their fortunes by developing products and services to expand Bitcoin’s ecosystem, such as cryptocurrency exchanges and related financial products.
Changpeng Zhao (CZ)
Changpeng Zhao, often known as CZ, founded Binance, the world’s largest cryptocurrency exchange by trading volume. As of June 2024, Forbes estimates his net worth at $33 billion. Zhao, who moved to Canada from China at age 13, became involved with Bitcoin after a poker game with friends. He committed fully to cryptocurrencies, even selling his apartment for Bitcoin in 2014. Binance, started in 2017, processes billions of dollars in transactions daily. While less familiar to U.S. customers compared to Coinbase, Binance offers a wider range of coins and derivatives.
However, Zhao faced legal troubles in May 2024, pleading guilty to money laundering and fraud charges, resulting in a four-month prison sentence. Binance’s rapid growth has led to regulatory challenges, and the exchange operates without a headquarters in some jurisdictions.
Brian Armstrong
Brian Armstrong co-founded Coinbase, North America’s largest cryptocurrency exchange by trading volume, in 2012 after leaving his software engineer role at Airbnb. As of June 2024, Forbes values his net worth at $11.4 billion. Armstrong, who holds a 19% stake in Coinbase, started the platform to create a global, open financial system. Coinbase is known for its user-friendly interface and has become a gateway for retail investors into the crypto world. Despite facing trading interruptions and scaling issues, Coinbase went public in April 2021 and had a market capitalization of $65.7 billion as of June 12, 2024.
Giancarlo Devasini
Giancarlo Devasini, a former plastic surgeon turned entrepreneur, is the CFO of Bitfinex and Tether, a leading stablecoin. After moving from medicine to technology, Devasini started a computer parts business before turning to cryptocurrency. He met the founder of Bitfinex in 2012, helped grow the exchange, and has been active in the crypto space ever since. Forbes estimates Devasini’s net worth at $9.2 billion, with an approximate 47% stake in Tether.
Michael Saylor
Michael Saylor, CEO of software firm MicroStrategy Inc. (MSTR), has become a prominent advocate for Bitcoin. MicroStrategy began acquiring Bitcoin in August 2020, purchasing $250 million worth to better utilize its cash reserves. Over time, Saylor’s enthusiasm for Bitcoin has grown, and by December 2021, MicroStrategy’s Bitcoin holdings reached $3.5 billion, with additional purchases made during market dips.
In August 2021, Saylor and MicroStrategy faced charges from the District of Columbia for failing to pay personal income taxes. These charges were updated in May 2023 to include allegations of false withholding statements. In May 2024, Saylor settled the case by paying $40 million to the District, though he did not admit guilt.
As of April 2024, MicroStrategy holds approximately 214,246 bitcoins, worth about $13.6 billion. Forbes estimates Saylor’s net worth at $4.4 billion due to his investment in Bitcoin.
Jean-Louis van der Velde
Jean-Louis van der Velde, CEO of Bitfinex and former CEO of Tether, is a Netherlands native who started his career in IT and tech startups. After serving as chairman at Huashun Electronics, van der Velde co-founded Bitfinex in 2013. He reportedly owns around 20% of Tether and has an estimated net worth of $3.9 billion.
Who Is the Richest Crypto Billionaire?
Changpeng Zhao, founder of Binance, is the richest person in cryptocurrencies, with an estimated net worth of $33 billion according to the Forbes Real-Time Billionaires List.
Who Is the Richest Bitcoin Owner?
The anonymous creator of Bitcoin, known as Satoshi Nakamoto, is believed to hold over 1 million bitcoins, though this cannot be confirmed due to the pseudonymous nature of cryptocurrency. The address with the most Bitcoin is 34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo, holding more than 248,597 BTC, worth over $17 billion at June 2024 prices.
Are There Any Bitcoin Billionaires?
There are 16 cryptocurrency billionaires listed by Forbes. While Sam Bankman-Fried remains on the list, his wealth is currently reported as zero. Many crypto billionaires are likely unknown or do not publicly disclose their holdings.
Which Crypto Has Made the Most Millionaires?
Bitcoin has created the most millionaires among the top cryptocurrencies. BitInfoCharts reports over 116,000 Bitcoin addresses holding between $1 million and $10 million. EtherScan shows 18 addresses with more than $1 million in ether, OKLink lists nine tether addresses with over $1 million, and BscScan identifies 28 BNB addresses with more than $1 million.
The Bottom Line
As cryptocurrencies gained popularity, the number of billionaires in the space has risen. These individuals have often made their fortunes by either creating products and services for the crypto ecosystem or capitalizing on market volatility.