How to Become a Crypto Millionaire
Who does not want to become a Crypto millionaire? The answer is quite simple i.e. almost everyone. Yes, there are some lucky people who have created their fortune by investing in Crypto and rewarded themselves with a unique badge (Bitcoin millionaire).
This article will feature the 10 top Bitcoin millionaire list and will explore the ways to become a new crypto millionaire.
I can’t guarantee that you will be a new Bitcoin millionaire after reading the article
But this article will guide you to be possibly one of them.
When it comes to Bitcoin there are many reasons to believe that cryptocurrency has the power to create massive wealth.
Even small amounts of Bitcoin have made people incredibly wealthy.
There are countless examples in the last 2/3 years which have proved the term “bitcoin millionaire” is real.
Bitcoin currency is the revolution of the 21st century it is changing the way businesses, governments, and regular people think about money.
Some legitimate vendors have taken to Bitcoin, allowing customers to purchase real products and services with digital currency.
Richard Branson of the Virgin Group has even decided to accept Bitcoins through his Virgin Galactic.
Reddit allows you to use Bitcoin to buy Reddit Gold. Yes, you can’t buy your everyday groceries with Bitcoins, but you can buy a trip to space. While some everyday vendors have looked into accepting Bitcoins, in the future Amazon an (E-commerce giant) planning to accept Bitcoin as the payment method. Check the list of major companies that accept cryptocurrencies as payment.
One of the biggest companies in the world is betting on virtual currencies. IBM has announced a variety of partnerships and initiatives related to the blockchain. According to an IBM study, 15% of the banks surveyed plan to use blockchain by 2017 while 91% of them are already investing in blockchain for deposit-taking.
Finance isn’t the only opportunity IBM sees with blockchain.
The company believes that blockchain technology could revolutionize the world.
However, IBM isn’t the only big company interested in blockchain technology.
Microsoft doubled down on Ethereum with a new blockchain product, the Ethereum Consortium Blockchain Network, a project that aims at helping industries work together to build increasingly complex consortia that would leverage the network effects of shared, immutable ledgers.
Simply put, this consortium will allow groups of companies to deploy a private Ethereum Network with a single click.
Bitcoin and other top cryptocurrencies have been flying high recently, making investors who poured money into the digital currency when it was trading at a tiny fraction of its current price millionaires now. That’s what happened to this man from Oslo USA
Back in 2009, Christopher Koch learned about Bitcoin while working on a thesis paper about encryption. The entire system fascinated him, so he decided to invest $27 for 5000 Bitcoins. After investing in Bitcoin he even forgot that he owns Bitcoins.
Four years later when Bitcoin price started popping up in the news. So, he checked his bitcoin wallet to find that he owns $888,000 worth of Bitcoins.
Let us fast forward to today and Kristoffer’s investment would be worth $4,749,550.
There is another guy named Erik Finman, who invested $1,000 in Bitcoin in 2011 when it was valued at $12.
Eric Finman now holds 403 Bitcoins which is worth $1.07 million. Erik Finman is one of a few with the distinct badge of “Bitcoin millionaire”
How an 18-year-old “Crypto millionaire” looks like see in the below image
Unfortunately, not all of us are as lucky as Koch or Erik Finman.
But, that doesn’t mean you can’t possibly become a Crypto millionaire now.
You just need to understand how the Cryptocurrency market works so that you can maximize your profits.
There are many advantages of Bitcoin and blockchain technology over fiat currency.
Which led to its acceptance by the wider world, investors, and financial institutions. Which is directly proportional to the rapid growth of Bitcoin and other blockchain-based popular cryptocurrencies.
What makes Bitcoin Special, Feasible, And Sustainable In Our Monetary System
- Bitcoin is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or a third party like the bank. Bitcoin is open so that anyone can benefit from it.
- There is no limitation in transaction size unlike fiat currency
- No matter what is the size of the Bitcoin transaction user will only pay a fixed minimum transaction fee unlike fiat currency where a large transaction size costs more money
- Due to the cryptographic nature of the Bitcoin network hence, during the transaction, you don’t risk having your identity stolen since the system doesn’t send any sensitive information to the network.
- As it is not controlled by any central authority or government hence it is not even prone to inflation, unlike fiat currency.
- Bitcoin transactions can’t be reversed unlike fiat currency
- Bitcoin transactions can’t be blocked, censored, or altered by any third party
Above are a few of the many Bitcoin characteristics which led to increasing Bitcoin popularity and ultimately Bitcoin price
Another policy is the efforts of governments in emerging markets to get rid of old currency notes, as was the case with India and Venezuela a few months ago – a move that coincided with the beginning of the recent Bitcoin rally. Now, wouldn’t you rather hold Bitcoins rather than U.S.Dollar, Ruble or Yuan-denominated debt?
Apparently, some investors think so. These reasons give Bitcoin and other major cryptocurrencies to invest like ripple coin, Binance coin, Chainlink, and Vechain to name a few. Which sounds like a better option and a more appealing proposition over fiat currency or Gold investment.
Last 1 Year bitcoin price analysis was done by Yahoo finance to compare the return on investment(ROI) between two assets (Gold & Bitcoin). The results are astonishingly shown below.
- 12-month performance
- SPDR Gold Shares (GLD)
- ROI – 12%
- Bitcoin Investment Trust Shares (GBTC)
- ROI – 800%
And above Bitcoin price trends chart also shows that Bitcoin’s price graph is more of parabolic. And it’s not rocket science to predict that Bitcoin price will keep increasing in the coming years.
(Note – Although Bitcoin price dropped in mid-April of this year to its 6 months low, in June it is recovering well and experts predict that it will again reach new heights in the coming 6 to 12 months)
But imagine if you had taken the risk and bought $100 worth of Bitcoin in 2010 at $0.33 per Bitcoin. Now it would be around $44,19800 at $10000 per Bitcoin.
10 Top Bitcoin Millionaires list of 2022
Below list of current Bitcoin millionaires that are inspirations for millions of crypto investors like you.
1. The Winklevoss Twins (Tyler and Cameron Winklevoss)
Twin brothers Cameron and Tyler Winklevoss, 36 years old, and founder of the digital currency exchange Gemini in 2015. They have a wealth estimated at $900 million to $1.1 billion in cryptocurrency.
Tyler and Cameron Winklevoss parlayed the millions they earned settling their Facebook lawsuit after alleging that it had been appropriated from them.
They are first on the Top Bitcoin millionaire list. With a wealth of $3 billion, Cameron Winklevoss and his brother, Tyler, are two of the largest investors in the crypto space
2. Chris Larsen
Chris Larsen was born in San Francisco, California, in 1960. On January 4, 2018, Forbes estimated Larsen’s worth at $59 billion, briefly putting him ahead of Mark Zuckerberg and into fifth place in their list of the world’s richest people.
Chris Larsen is the co-founder of Ripple. He currently has $7.5 – $8 billion in cryptocurrencies.
He holds 5.2 Billion XRP tokens. He is the richest crypto millionaire on the list of top Bitcoin millionaires. In 2020, Larsen and Ripple each donated US$1 million to five San Francisco food banks for COVID-19 relief efforts
3. Joseph Lubin
Joseph Lubin is a Canadian entrepreneur founder of the Ethereum, a decentralized cryptocurrency platform, and is the founder of ConsenSys, a software-production studio.
As of February 2018, according to Forbes Joseph Lubin, net worth is between 1 Billion to 5 Billion. Joseph Lubin is placed on a 3 rd spot on the top Bitcoin millionaire list.
Lubin has been personally involved in cross-industry groups attempting to advance solutions to governance issues in the blockchain industry.
4. Changpeng Zhao
Within 1 year he has reached from zero to $1.1 billion-$2 billion net worth. Changpeng Zhao stands at 4th on the list of top Bitcoin millionaires.
According to Bloomberg Billionaires Index, Zhao is ranked 30th richest in the world with a net worth estimated at $33 billion as of October 2022.
In an interview published on November 16, 2021, Zhao said he plans to donate up to 99% of his wealth, with the intention to follow the feat of other magnates.
“I intend to donate most of my wealth, as many other entrepreneurs or founders have done. From Peabody to today. I intend to donate 90%, 95%, or 99% of my wealth.”CZ
Changpeng Zhao Bitcoin price prediction Interview at altcoin daily.
5. Matthew Mellon
Matthew Mellon is not the CEO of any cryptocurrency exchange or investment fund. He is an investor and was one of the early adopters of the Ripple token.
According to Forbes, he has an estimated wealth of $900 Million to 1 Billion and is at the 5th spot on the top Bitcoin millionaire list.
When the so-called billionaire banking heir Matthew Mellon died suddenly in April 2018, he was worth almost $200 million.
6. Brian Armstrong
Brian Armstrong is the CEO of the Coinbase Exchange. He has an estimated wealth of 900M to 1 Billion USD. He is at 6th on the top Bitcoin millionaire list
In April 2021, Coinbase’s market capitalization rose to $85B, and according to Forbes, as of May 2022, Armstrong has a net worth of $2.4 billion.
7. Matthew Roszak
Matthew Roszak is an American billionaire venture capitalist and cryptocurrency investor.
Matthew Roszak is the founder of the blockchain start-up Bloq and Tally capital (a crypto private investment firm).
As of May 2022, his net worth was estimated at US$1.4 billion. And at the 7th spot on the top Bitcoin millionaire list. In January 2021, Roszak had an estimated net worth of US$1.2 billion
8. Barry Silbert
Barry Silbert, a venture capitalist and founder of “Digital Currency Group“, was an early adopter of Bitcoin.
He reportedly earned 48,000 Bitcoins in an auction held by the U.S. Marshals Service in 2014 (Bitcoin was then worth $350, which means the total estimate of Barry Silbert should be about $100 million to $268.8 million).
Since then the company mission is to accelerate the global financial system. Hence Digital currency group has invested in more than 75 bitcoin-related companies and is the world’s leading firm for investing in bitcoin-related companies.
Digital currency also owns CoinDesk (a leading source of bitcoin news, which runs the annual bitcoin industry conference). Barry Silbert stands at the 8th spot on the top bitcoin millionaire list
9. Brendon Blumer
Brendon Blumer is the CEO of Block.one an open-source software, The company founded the EOS.IO blockchain platform. He is also a co-founder of Okay.com a company based in HongKong.
Okay.com is well-known as the most technologically advanced real estate agency in the Hong Kong market. From June 2017 to June 2018 resulting in a total of $4 Billion in collected revenues. and stands at the 9th spot on the top Bitcoin millionaire list
10. Tim Draper
Tim Draper, a venture capitalist and the founder of the firm Draper Fisher Jurvetson worth billions thanks to his father’s investment in Skype.
Tim Draper’s father, Bill Draper, was an earlier investor in Skype, and DFJ backed Skype in 2004.
The company owned 10% of Skype in 2005 when it was sold to eBay for US$4.1 billion. Tim Draper made headlines for his purchase of 30,000 Bitcoins in 2014 from the US Marshal Service in the Year 2014.
Draper was also one of the first investors in Theranos.
Tim Draper’s net worth is estimated to be approximately $1 billion. Tim Draper is last on the top Bitcoin millionaire list.
Is it really possible to become a Crypto millionaire now?
Yes, you can still become a Crypto millionaire by investing in the right cryptocurrency. But now you need a large capital to invest in with a proper strategy.
The second option is to invest in the best cryptocurrencies for the long term and wait for the right time. This option sounds better to me than buying Bitcoins because the price of almost 95% of altcoins is still low ( also referred penny cryptocurrency) and there are very good chances their price gets 2x to 10x in the coming 2 years.
You also have other options: mining or crypto trading. The more realistic way of making a million with Bitcoins is going to be trading them through the best altcoin trading platform. Read the following article to learn in detail about crypto trading.
As I suggest above there is a possibility to become a Crypto millionaire today. But First, you need to find the right coin to invest with large capital and wait for the right time.
Cryptocurrency can fluctuate to many percentages in a day. Between June 2019 to the first week of August 2019 Bitcoin price jumped from $3000 to $130000.
Bitcoin margin trading is going to be the best option due to Bitcoin volatility, and where there is volatility there is an opportunity.
A cryptocurrency expert Wences Casares, founder of Xapo wallet, an internet service provider, a video game company, and a bank, plus he sits on the board of PayPal. Wences Casares has been called the “patient zero” of bitcoin among Silicon Valley’s elite.
He got Bill Gates, Reid Hoffman, and countless other luminaries into bitcoin at gatherings of the rich and famous in Sun Valley and elsewhere. At the dinner organized by the cryptocurrency policy group Coin Center in New York, Casares delivered the keynote speech, including the advice he doles out to people who ask him how to get into Cryptocurrency.
The formula, according to Casares? Take 1% or less of what you own, buy an altcoin with it (after thorough research), and then forget about it for at least the next five years; ideally the next decade. “You either lose one percent of your net worth, which most people can take, or you can become Bitcoin or crypto millionaire or crypto Billionaire,”
This is what prominent personalities (industry giants) have to say about Bitcoin and altcoins future
The exponential growth of Bitcoin and also other Bitcoin alternatives like Ripple coin price surpassed the overall annual growth of any cryptocurrency (4000%) in the year 2017 also compelled some incredibly successful and intelligent people to make these bold claims:
- John McAfee (founder of McAfee antivirus) made a call recently that Bitcoin will easily reach $500,000 by the end of 2020.
- Kay Van-Petersen (a financial analyst who predicted Bitcoin of hitting $2000 in 2017) predicts the value will rise to $10,000 each within the next year.
- Jeremy Liew (the first investor of Snapchat) predicts Bitcoin will reach $500,000 by 2030.
- Dominik Zynis, Advisor to Wings.ai, “100 BTC will be $1M before 2020 ends. I made this prediction in 2011.”
- Peter Smith (CEO of Blockchain) joined Jeremy Liew’s prediction and said Bitcoin will reach $500,000 by 2030.
- Fran Strajnar of BraveNewCoin.com says: “There’s a 50/50 chance that 100 BTC will be worth $1 million USD within 35 years.” 100 BTC is nearly worth $95,000.
- Wences Casares (CEO of Xapo and Paypal Board Member) recently said Bitcoin will reach $1,000,000 per coin within 5-10 years.
- Bill Gates, Warren Buffet, and the list goes on and on.
There is no doubt that cryptocurrency is feasible and cryptocurrency is here to stay. At the starting of last year, Bitcoin was priced at 1000$, and at the end of 2017, it was 12400$. Although, It has been moving up-down drastically from March 2018 till August 2019. But at the time of updating the article Bitcoin price is hovering around $11000
But It will definitely hit a $50000 mark sometime in the near future.
It is not the question of whether it will! but the thing that matters is when? So buy a few of the few promising cryptocurrencies now and leave them in the cryptocurrency hardware wallet for 4 to 5 years and hopefully, you will become a new Crypto millionaire or even Billionaire.
Obviously investing in Bitcoin now will require large capital but there are other low-value altcoins with a huge potential to create new Crypto millionaires.