July 12, 2023
1 min read

19 become billionaires via cryptocurrency

Aside from individuals, there are large corporations that have accumulated great volumes of Bitcoin…reports Asian Lite News

As the world of cryptocurrency tumbles down amid regulatory crackdowns, there are 19 individuals in the world who achieved the title of a billionaire through cryptocurrency.

One cryptocurrency in particular that has led to investors amassing impressive returns is Bitcoin.

Satoshi Nakamoto, the pseudonym for the creator of Bitcoin, is widely assumed to have the most Bitcoin wealth. Though the creator has not officially revealed the amount of Bitcoin he holds, estimates predict he has a wallet containing around 1.1 million BTC, according to data shared by niche news publisher BanklessTimes.com.

This would convert to a staggering around $25 billion.

“Following Nakamoto is Changpeng Zhao, commonly known as CZ who is the founder and CEO of Binance, with a total of $65 billion. Prior to Sam Bankman-Fried’s scandal, he took third position with a total of $24 billion,” the report showed.

Looking at the landscape of BTC investing across countries, the US takes the lead, with 46 million holders. This is significantly more than India in second place with 27 million holders and Pakistan with 26 million. However, the most Bitcoin owned is distributed between just four wallets which holds a collective 663,306 Bitcoins.

Aside from individuals, there are large corporations that have accumulated great volumes of Bitcoin.

In fact, a total of 23 publicly traded companies have sizable investments in BTC, said the report.

The company with the largest investment in BTC among these is MicroStrategy Inc. with an astonishing 129,699 BTC, equating to $3,975 million.

Another high profile example of company ownership of BTC is Tesla, which in 2021, purchased $1.5 billion worth of Bitcoin. The automotive and clean energy company also began to accept BTC as a form of payment which would’ve increased their total value invested even higher.

However, the company later went on to offload the majority of its bitcoin holdings in 2022, said the report.

ALSO READ-US watchdog declares all-out war against crypto

Previous Story

Gujarat CM inaugurates U20 Mayoral Summit

Next Story

WhatsApp rolling out phone number privacy feature

Latest from Business

Microsoft Cuts Deep

The fresh job cuts come less than two months after Microsoft announced it was laying off more than 6,000 employees…reports Asian Lite News Microsoft is set to cut around 9,000 jobs —

Northeast Is Growth Engine

Scindia also provided updates on the government’s efforts to facilitate the entry of SpaceX’s Starlink service into India. “All due diligence from the Ministry’s side is complete Union Minister for Communications and

India to Empower Global South

India is emerging as a pivotal force in the global transition to clean energy, with Union Minister for New and Renewable Energy, Pralhad Joshi, asserting that the country is empowering the Global

Maruti’s Global Push Breaks Record

June shipments hit 37,842 units, signalling robust global demand Maruti Suzuki India recorded its highest-ever monthly exports in June, shipping 37,842 units and marking a new milestone that highlights the company’s expanding

India Bats for Fairer Global Finance: FM Sitharaman

FM Sitharaman stated that we believe that optimal regulation fosters innovation and stability….reports Asian Lite News India supports reforms to the international financial architecture to enhance inclusivity and equity, including Multilateral Development
Go toTop

Don't Miss

UAE unveils new dirham symbol and digital currency

Alongside the new Dirham symbol, the CBUAE has also announced

Cryptocurrency Firms Linked to Justin Sun Hit by $115 Million Hack

Kerala Blasters’ strong backing in Kochi was evident when Drinčić