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Author Topic: Crypto Billionaires on the Forbes List  (Read 880 times)
EuSouBitcoin
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June 29, 2017, 07:30:39 PM
 #1

The total market cap of cryptos is pretty high. Are there any crypto billionaires on the Forbes list of richest people?

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June 29, 2017, 07:53:52 PM
 #2

Mike Novogratz is the only person I can think of who has been on the list & is publicly invested in crypto.

https://www.forbes.com/lists/2007/54/richlist07_Michael-Novogratz_WJ39.html

Roger Ver could make the list someday, I don't think he's quite there yet.

Elon Musk, Virgin Galactic & others have expressed interest in crypto but probably are not invested heavily in it.

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June 29, 2017, 07:55:14 PM
 #3

I haven't heard of it. Forbes always refers to the official data and bitcoin not refers to the official currency. Their condition is estimated in dollars. Imagine if that had journalists Forbes is constantly counted state bilinovich millionaires. The day their state would change by 30%. It would be very funny.

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June 29, 2017, 07:56:25 PM
 #4

Vitalik Buterin is one of the youngest billionaires right?

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June 29, 2017, 08:29:55 PM
 #5

Vitalik Buterin is one of the youngest billionaires right?

The last number of eth I remeber Buterin holding was 700,000.

@ current eth price of approx $300.

700k * $300 = $210,000,000.

Buterin could have more eth but would need around 3.5 million eth to reach $1 billion.

Then taxes could take a big chunk of it.

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June 29, 2017, 09:13:41 PM
 #6

Vitalik Buterin is one of the youngest billionaires right?

The last number of eth I remeber Buterin holding was 700,000.

@ current eth price of approx $300.

700k * $300 = $210,000,000.

Buterin could have more eth but would need around 3.5 million eth to reach $1 billion.

Then taxes could take a big chunk of it.

I believe it took, just as examples, Steve Jobs and Bill Gates much, much longer in their careers to reach this level of wealth. Food for thought.

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June 29, 2017, 10:18:25 PM
 #7

Vitalik Buterin is one of the youngest billionaires right?
The last number of eth I remeber Buterin holding was 700,000.
Buterin could have more eth but would need around 3.5 million eth to reach $1 billion.
May i ask from where you got these data,i do not believe he is just holdin 700,000 because from what i understand there are more than one million coins entering into the network every month and there is no cap on the maximum number of coins to be produced,correct me if i am wrong  Wink and do you believe that he could hold only what you just mentioned.

















 

 

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June 29, 2017, 10:24:37 PM
 #8

Mike Novogratz is the only person I can think of who has been on the list & is publicly invested in crypto.

https://www.forbes.com/lists/2007/54/richlist07_Michael-Novogratz_WJ39.html

Roger Ver could make the list someday, I don't think he's quite there yet.

Elon Musk, Virgin Galactic & others have expressed interest in crypto but probably are not invested heavily in it.

Yeah. I heard about Mike and he has publicly admitted that he has invested in bitcoin. I don't know about the others though. Crypto's is still in its infancy and I doubt anyone can be a billionaire in short span of time. I'm pretty sure there are already millionaires but making billions out of crypto will take more years in my opinion.

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June 29, 2017, 11:28:49 PM
 #9

Nah its impossible that somebody made a billion just out of crypto
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June 30, 2017, 12:00:07 AM
 #10

Nah its impossible that somebody made a billion just out of crypto

It's possible Satoshi has over a billion worth. But there's a galaxy of difference between a billion worth and a billion actually realised. Until the markets are far, far deeper than they are now it's nothing but paper gains and very theoretical ones at that.

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June 30, 2017, 08:18:42 AM
 #11

Nah its impossible that somebody made a billion just out of crypto

It's possible Satoshi has over a billion worth. But there's a galaxy of difference between a billion worth and a billion actually realised. Until the markets are far, far deeper than they are now it's nothing but paper gains and very theoretical ones at that.

Satoshi if he has 1 million coins as people predict he has would actually be a multibillionaire(around 2-3 billion at current prices).

Roger Ver is rumoured to hold at least 400k coins, meaning that he is roughly a billionaire with bitcoins alone excluding any assets. This has been never confirmed nor denied by anyone including Ver himself though.

Mike Novogratz is the only person I can think of who has been on the list & is publicly invested in crypto.

https://www.forbes.com/lists/2007/54/richlist07_Michael-Novogratz_WJ39.html

Roger Ver could make the list someday, I don't think he's quite there yet.

Elon Musk, Virgin Galactic & others have expressed interest in crypto but probably are not invested heavily in it.

Possibly the only one listed on forbes, yes. But if they invest in bitcoin then they obviously respect privacy, and they probably want privacy themselves. And since bitcoin is pseudoanonymous it is hard for forbes to ever get to know how much one truly has, there is just no way to verify it.

Nah its impossible that somebody made a billion just out of crypto

Owning 1% of the entire market cap will actually give you several million dollars above the billion dollar line, so yeah, you can comfortably make it even if you just invested in a lot of ICOs, and bitcoin early adopters also have the opportunity to do the same with low difficulty at the beginning.


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June 30, 2017, 08:20:00 AM
 #12

To have $1 billion worth of bitcoins you would need 400,000 BTC. Other than Satoshi, there might be a few other people with that many.

It is unlikely that anyone (other than Satoshi) would have mined that many simply because there have been too many other miners to compete with and many of the mined bitcoins would have been sold to pay operating costs.

People may have bought that many when they were much cheaper, but 400,000 would have been a lot to buy at any time in Bitcoin's history. The Winklevoss twins bought around 100,000 BTC when they were worth about $10.

Some early entrepreneurs could have that many -- Roger Ver, Eric Voorhees and Mircea Popescu are possibilities.

Finally, somebody stole 650,000 BTC from Mtgox.

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June 30, 2017, 08:36:24 AM
 #13

I can imagine that quite a few billionaires have invested in bitcoin, if for no other reason than to spread out their investments. I'm sure a few have dropped a million to buy 400 bitcoins at it's current rate and they might even have bought physical crypto coins as a long term investment.

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June 30, 2017, 02:03:57 PM
 #14

Also haven't really heard of anyone on the list holding large amount of bitcoins but then again, I don't track billionaires anyway. Some there could have invested in bitcoins but are not publicly talking about it. That's how business folks work anyway, you'd only know they invested in something once it becomes apparent everyone should have invested in it.

To have $1 billion worth of bitcoins you would need 400,000 BTC. Other than Satoshi, there might be a few other people with that many.

It is unlikely that anyone (other than Satoshi) would have mined that many simply because there have been too many other miners to compete with and many of the mined bitcoins would have been sold to pay operating costs.

People may have bought that many when they were much cheaper, but 400,000 would have been a lot to buy at any time in Bitcoin's history. The Winklevoss twins bought around 100,000 BTC when they were worth about $10.

Some early entrepreneurs could have that many -- Roger Ver, Eric Voorhees and Mircea Popescu are possibilities.

Finally, somebody stole 650,000 BTC from Mtgox.


Wow, lucky them. So the Winklevoss spent around a million dollar to buy btc? If they sell that now they would have already doubled their capital multiple times.  Grin

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June 30, 2017, 02:36:12 PM
 #15

The total market cap of cryptos is pretty high. Are there any crypto billionaires on the Forbes list of richest people?
Cryptos support being anonymous hence investing into cryptocurrencies and enjoying its big returns also could be done anonymously. This must be a reason people who were already become billionaire are not coming into lime light yet.
If some more people will be unveiling like they have achieved their fortunes from bitcoins investments that might work as a big promotions for bitcoin prices to take bitcoins into new levels.

Hopefully we can expect winklevolks brothers will do that.



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June 30, 2017, 04:04:46 PM
 #16

I beleive there are some billionaires who made their fortune on Bitcoin, most of them are early adopters. But there are very few billionaires, if any, who made their fortune in fiat and are willing to invest in cryptocurrencies. Wonder why is that so, they don't beleive in Bitcoins and cryptocurrencies, find it too risky or not worth investing at all?

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dothebeats
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June 30, 2017, 04:36:50 PM
 #17

Man, if Hal Finney is still alive, he would have made it into some spot on that, knowing that the man is in close ties to satoshi after the Genesis block was mined. Right now, no crypto billionaires are existing (except for Satoshi, if he's alive and he really has control over a milluon coins) except for millionaires like Ver and Buterin. Also, those spots will also change since price fluctuations could hardly affect their holdings at a given moment.

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June 30, 2017, 04:41:36 PM
 #18

I beleive there are some billionaires who made their fortune on Bitcoin, most of them are early adopters. But there are very few billionaires, if any, who made their fortune in fiat and are willing to invest in cryptocurrencies. Wonder why is that so, they don't beleive in Bitcoins and cryptocurrencies, find it too risky or not worth investing at all?
Bitcoin/cryptocurrencies are not too big to find a place into their portfolio. A typical USA stock's market would be around one trillion. When bitcoin will be having at least 500 billions US dollars market cap, we can expect billionaires to consider investing into bitcoins.

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June 30, 2017, 04:50:44 PM
 #19

Mike Novogratz is the only person I can think of who has been on the list & is publicly invested in crypto.

https://www.forbes.com/lists/2007/54/richlist07_Michael-Novogratz_WJ39.html

Roger Ver could make the list someday, I don't think he's quite there yet.

Elon Musk, Virgin Galactic & others have expressed interest in crypto but probably are not invested heavily in it.

That's correct, but I think he's not asking for the people who are already billionaire and invested in bitcoin. He's directly asking for pure cryptocurrency billionaires, but as far as I know, there is no such person.

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June 30, 2017, 05:05:42 PM
 #20

I see some potential difficulties when we really want to determine if someone is crypto-billionaire.

1. Usually, crypto investors are successful individuals, fiat investors or money managers, it is hard to estimate how large is their profit from crypto.
2. Early adopters or crypto investors rarely are eager to share an exact number of the coins they own, they would rather say something: "I own a shitload of bitcoin" instead.
3. We have no idea who owns a certain number of coins, if they wish to remain anonymous we may never know their names.

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