- Bitcoin (BTC) has been trying new highs since the beginning of the year. The cryptocurrency has managed to maintain last year’s bullish momentum, which saw it surpass its all-time high before setting new abysmal highs. On January 9, the coin rose significantly and reached a new peak at $ 41,950. While BTC has since had a downward correction that saw it drop to 34,500 at the time of writing, the coin’s recent earnings have significantly impacted the lives of its owners.
Bitcoin (BTC) has been trying new highs since the beginning of the year. The cryptocurrency has managed to maintain last year’s bullish momentum, which saw it surpass its all-time high before setting new abysmal highs. On January 9, the coin rose significantly and reached a new peak at $ 41,950. While BTC has since had a downward correction that saw it drop to 34,500 at the time of writing, the coin’s recent earnings have significantly impacted the lives of its owners.
According to a report, BTC’s recent earnings have spawned new crypto billionaires. Among those lucky ones are Tyler and Cameron Winklevoss, founders and custodians of a leading crypto exchange Gemini Trust Company. Reportedly, each of the Winklevoss twins currently has around $ 1.4 billion in cryptocurrency. That number has allegedly increased more than twice what each of the twins had last month.
— Cameron Winklevoss (@cameron) January 8, 2021
Cameron Winklevoss tweeted celebrating these achievements,
Bitcoin surpassed Facebook in terms of market cap. It makes sense that the money network will be more valuable than a social network.
He made this comparison after he and his brother sued Facebook CEO Mark Zuckerberg and claimed that Zuckerberg stole the idea of building a social network from them. They then won the case and secured a $ 65 million deal that they invested in BTC. The twins have been criticized for seeking fame and fortune in crypto, but their transition from Facebook seems to be working.
Baby Boomers, Gen X and Y get rich
Alongside the Winklevoss twins, the value of Matthew Roszak’s crypto assets has also increased significantly. Roszak worked as an entrepreneur in the venture capital field in the 1990s and early 2000s. However, he changed tactics by buying the first BTC in 2012. Since then, he has been co-founder and president at Bloq, a blockchain startup with clients like Citigroup. Crypto wealth is around $ 1.2 billion.
Tim Draper, part of the dynasty that invested in the Silicon Valley-based Draper family, believes Bitcoin is the currency of the future. He started investing as early as 1985, but his first crypto investment was seven years ago and he allegedly bought 29,659 BTC for $ 18.73 million. Assuming he never liquidates his BTC, Draper will have about $ 1.02 billion.
MicroStrategy CEO Michael Saylor has benefited significantly after BTC’s meteoric rise. He led the company to invest £ 0.805 billion in BTC, with an average price of $ 15,000 per coin. After the rise of BTC, this investment is currently worth around £ 1.76 billion. Saylor owns a $ 1.2 billion stake in the company and has also invested $ 175 million to purchase 17,732 BTC, currently worth about $ 598.7 million. Combined with his stake in MicroStrategy, these funds make Saylor a new crypto billionaire.
Mike Novogratz, founder and CEO of Galaxy Investments Partners, also benefited from BTC’s rally. It was reported that it invested £ 5.12 million in BTC in 2013 and then used those funds to fund Galaxy’s initial funding round. Galaxy’s crypto assets are now worth $ 620 million, according to details in September last year. When Novogratz is seen to have a 77% stake in the company, his crypto fortune is approximately £ 349.6 million.
When Bitcoin fluctuates or falls, it creates a wider ripple effect in the crypto market. Following the excellent performance of cryptocurrency, Ethereum soared to please its inventor Vitalik Buterin. While Buterin does not have any known BTC holding companies, it currently has more than 330,000 ETH, which is about $ 322.48 million.