- Bitcoin value more than doubled in the past year, reaching $73,000 after U.S. approved Bitcoin-linked ETFs.
- Total market value of cryptocurrencies surged 170%, adding $1.6 trillion, with 17 individuals becoming crypto billionaires.
- Key figures like Jed McCaleb, Matthew Roszak, and Changpeng Zhao have significantly increased their net worth through strategic investments in the crypto market.
The cryptocurrency market has emerged from its prolonged slump, with Bitcoin’s value more than doubling in the last year, reaching a record peak of $73,000 in March following the U.S. approval of Bitcoin-linked ETFs. The aggregate market value of all cryptocurrencies surged by 170%, adding approximately $1.6 trillion to their market capitalization over the past year, as reported by CoinGecko.
This resurgence has significantly increased the number of individuals achieving billionaire status through cryptocurrency, with Forbes’ 2024 World’s Billionaires list identifying 17 crypto billionaires, up from nine the previous year. Collectively, these 17 entrepreneurs and investors have amassed a fortune of $93 billion, encompassing their estimated holdings in crypto assets, publicly known stock investments, and private holdings. This represents a substantial increase from the total wealth of $37 billion held by crypto billionaires last year.
Here’s a closer look at these influential figures and their paths to fortune:
Jed McCaleb
Jed McCaleb boasts a net worth of $2.9 billion, a step up from his previous $2.4 billion. His financial success is primarily rooted in his sales of XRP, a digital currency he helped create as a co-founder of Ripple, after departing from his earlier venture, Mt. Gox, the first major Bitcoin exchange. Despite leaving Ripple due to disagreements, his subsequent venture into Stellar, a competitor, and his investment in Vast, a space exploration endeavor, underline his diverse interests and continuous impact on the tech world.
Matthew Roszak
Matthew Roszak holds a net worth of $3.1 billion, significantly growing from $1.1 billion. His early investments in Bitcoin and other cryptocurrencies like Ethereum and Binance’s BNB token have paid off. Roszak is also the brain behind Bloq, a blockchain startup focusing on investing in other crypto projects and advisory roles.
Fred Ehrsam
Fred Ehrsam has seen his net worth increase to $3.2 billion from $930 million. As a co-founder of Coinbase, his substantial equity in the company and his role in founding Paradigm, a crypto investment firm with over $8 billion in assets under management, underline his significant influence in the crypto market.
Chris Larsen
Chris Larsen, with a net worth of $3.2 billion (up from $2.2 billion), co-founded Ripple, a platform aimed at enhancing international money transfers using the XRP cryptocurrency. Though he stepped down as CEO, his continued involvement and substantial holdings in both Ripple and XRP reflect his lasting impact on the crypto ecosystem.
Jean-Louis
Jean-Louis van der Velde boasts a net worth of $3.9 billion, a rise from $1.8 billion. His leadership at Tether, a major stablecoin issuer, and his strategic role in maintaining crucial banking and regulatory relationships highlight his significant footprint in the crypto finance world.
Paolo Ardoino
Paolo Ardoino mirrors van der Velde’s net worth of $3.9 billion. As Tether’s CEO, his stake in the company and his background in technology and startups emphasize his critical role in the crypto industry’s infrastructure.
Michael Saylor
Michael Saylor stands out with a net worth of $4.4 billion, jumping from $760 million. His strategy of transforming MicroStrategy into a major Bitcoin investment vehicle has not only benefitted the company but also significantly increased his personal wealth, marking him as one of the most notable gainers in the crypto space.
Giancarlo Devasini
Giancarlo Devasini has reached a net worth of $9.2 billion, up from $4 billion. His position as CFO of Tether and his significant ownership stake underscore his influence in the stablecoin market and his contribution to Tether’s profitability.
Brian Armstrong
Brian Armstrong has a formidable net worth of $11.2 billion, a substantial increase from $2.2 billion. As a co-founder and the largest individual shareholder of Coinbase, his role has been pivotal in the exchange’s growth and its positive performance in the stock market.
Changpeng Zhao
Changpeng Zhao, also known as CZ, tops the list with a staggering net worth of $33 billion, up from $10.5 billion. Despite facing legal challenges and fines, his majority stake in Binance, the world’s largest crypto exchange by trading volume, has maintained his position at the apex of crypto wealth, highlighting the dynamic and resilient nature of the cryptocurrency market.
