Cryptocurrencies: Overnight Billionaires

Earlier this year, Forbes announced the names of people who became mind-blowingly rich within the last few years. This overnight transition to billion-dollar worth status is attributed to the crypto revolution, which has been on the rise over the past two years. But did the cryptocurrency mania pass its peak moment, or is the real peak still down the road?

Apparently, due to the volatile nature of virtual money, everyone, including you, still have a good chance to emulate the success of the new crop of billionaires. Read carefully to find out how true crypto go-getters made the most of digital technology.

Chris Larsen

Our list starts off with an instant crypto fortune holder is a technology whizz, Chris Larsen. Back in January 2018, when the crypto madness was at its best, Mr. Larsen made a killing on Ripple – his own cryptocurrency. To be more specific, over 2 billion tokens made his personal wealth hit a dizzying 60 billion dollars. However, as soon as he had landed his riches Ripple collapsed heavily, slashing off his net worth by 54 billion dollars.

Joseph Lubin

It hardly comes as a surprise that Joseph Lubin, the co-founder of Ethereum, also rests on the list of insanely rich crypto go-getters. He is said to own Ether in the scope that bypasses anyone else, with his holdings reaching 1-5 billion dollars.

Changpeng Zhao

Changpeng Zhao is a renowned coder of Chinese origin who didn’t let the crypto grass grow under his feet. Instead, he sank his teeth into developing a cryptocurrency exchange that made him a billionaire within a very short time span.

The thing is, in the modern digital currency world, one can’t afford to ponder, hesitate or wobble. Immediate decisions are crucial, or you can put it as: “there is no minute like the current one”. Changpeng Zhao grasped this business approach faster than anyone. As a result, it took him less than 200 days to turn a small start-up into the biggest cryptocurrency exchange across the globe, known as Binance.

As it stands, the capabilities of the Binance exchange extend way further than those of its counterparts. Amazingly, the number of transactions Zhao’s company is capable of processing reaches a mind-bending 1.4 million per second. Those speculating on cryptocurrencies are quite eager to capitalize on Binance’s promptness in trading more than 100 digital coins. As a result, such a demand translated into 200 million dollar profit for the first quarter of the company’s existence.

Further to this, Changpeng Zhao’s 2017 crypto creation, Binance Coin, features 1.3 billion dollar market capitalization. Zhao’s Binance exchange stake coupled with the worth of his Binance Coins add up to the coder’s 2 billion dollars personal wealth value.

According to Forbes, the above-mentioned names are followed by the Winklevoss twins who invested in Bitcoin, and Matthew Mellon – the XRP investor.

The Mysterious Satoshi Nakamoto

As a matter of fact, putting the finger on the wealthiest individuals in the cryptocurrency empire falls into the category of tasks that are almost Rocket Science. The bottom line is that innovative attributes of digital money such as top secrecy and privacy allow a whole bunch of other billion-dollar holders remain unnoticed. That said, we bet you noticed that Forbe’s list of wealthiest crypto owners eludes a mystical zillionaire Satoshi Nakamoto – a founder of Bitcoin. His persona remains unidentified but rather subject to guesswork. About the current Bitcoin value, his assets of over 1 million Bitcoins equate to nearly $6 billion.

So does it make sense to be amassing cryptocurrency? If to go by forecasts of crypto analysts and enthusiasts, the storm is brewing around digital money. And at this point, such a risky investment remains up to your personal judgment.

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