Bitcoin Millionaires
Bitcoin is a digital asset and payment system with a market capitalization of around $747.34 billion as of April 12, 2022.1 It is considered by many to be one of the most successful digital currencies ever created. The first-ever bitcoin exchange-traded fund (ETF) was launched in October 2021, pushing the cryptocurrency to new all-time highs.2
Bitcoin's stratospheric rise since 2009 has created a surprising and diverse set of millionaires. These millionaires have made money by creating products to grow Bitcoin's still-nascent ecosystem. For example, some have created exchanges for trading the cryptocurrency and its derivatives. Others have used it to create financial products and tokens that have minted millions. Their products and services have benefited from a surge in popularity and price for Bitcoin.3
Of course, Bitcoin was—and still is—a risky asset class. The absence of regulatory guardrails and the cryptocurrency's price volatility have attracted criminals and investors alike.4 But those drawbacks only serve to highlight the achievements of Bitcoin millionaires because they not only were early adopters but also predicted its economic opportunity.
KEY TAKEAWAYS
Launched in 2009, Bitcoin is the first and remains the most successful blockchain-based cryptocurrency in the world.
The price of Bitcoin is volatile, ranging from under $10 in 2010 to $40,323 on April 12, 2022.1
Most top Bitcoin billionaires became rich by creating products and services to grow the cryptocurrency's ecosystem.
Bitcoin Millionaires Bitcoin is a digital asset and payment system with a market capitalization of around $747.34 billion as of April 12, 2022.1 It is considered by many to be one of the most successful digital currencies ever created. The first-ever bitcoin exchange-traded fund (ETF) was launched in October 2021, pushing the cryptocurrency to new all-time highs.2
Bitcoin's stratospheric rise since 2009 has created a surprising and diverse set of millionaires. These millionaires have made money by creating products to grow Bitcoin's still-nascent ecosystem. For example, some have created exchanges for trading the cryptocurrency and its derivatives. Others have used it to create financial products and tokens that have minted millions. Their products and services have benefited from a surge in popularity and price for Bitcoin.3
Of course, Bitcoin was—and still is—a risky asset class. The absence of regulatory guardrails and the cryptocurrency's price volatility have attracted criminals and investors alike.4 But those drawbacks only serve to highlight the achievements of Bitcoin millionaires because they not only were early adopters but also predicted its economic opportunity.
KEY TAKEAWAYS Launched in 2009, Bitcoin is the first and remains the most successful blockchain-based cryptocurrency in the world. The price of Bitcoin is volatile, ranging from under $10 in 2010 to $40,323 on April 12, 2022.1 Most top Bitcoin billionaires became rich by creating products and services to grow the cryptocurrency's ecosystem.