Elon Musk is the cofounder and CEO of a popular vehicle manufacturing company, Tesla. He has been a dedicated supporter of cryptocurrency. In 2021, Tesla invested around $1.5 billion in BTC, which is very huge. The company also started accepting Bitcoin as payment back in 2021. He is also very active on his social media platforms and constantly posts about crypto coins that have the potential to grow.
However, this does not mean that Elon Musk is the only popular crypto investor that we have with us. There are few other wealthy business owners who have invested a hefty amount of their money in Bitcoin. Let us explore about these rich entrepreneurs one by one:
1. Cameron and Tyler Winklevoss
Cameron and Tyler Winklevoss are known to be the first BTC billionaires. The Winklevosses are financial backers in various digital currencies and blockchain-related organizations, most prominently the Gemini trading platform. Apart from Bitcoins, the siblings have also vigorously put resources into Ethereum. The twins guarantee to oversee or claim 1% of all Bitcoin available for use, which is about 180,000 coins.
2. Changpeng Zhao
Changpeng Zhao is the one who founded Binance, which is one of the most popular crypto exchanging platforms. As indicated by research, his total assets is around $100 billion which is immense. His net worth has expanded dramatically in the previous years. Zhao has done a ton of battle in his life. He was only 13 years of age when he moved to Canada from China. He became aware of bitcoin while playing poker with his companions. When he understood its worth, he sold his apartment to purchase bitcoin in 2014.
Binance was established in 2017. You will be amazed to know that it has to manage transactions of billion dollars everyday. It isn’t as popular as coinbase in the USA yet it without a doubt has more crypto coin choices for its customers. He also mentioned in an interview that he couldn’t care less about becoming affluent. He will offer the majority of his wealth before he dies.
3. Michael Novogratz
Michael Novogratz is another famous financial backer in the cryptographic money space. He is the pioneer and CEO of Galaxy Digital, a dealer bank that specializes in digital resources. Novogratz has been investing in BTC and other digital currencies since the beginning of 2013 and has created massive profits from it.
Novogratz is a major supporter of cryptocurrency and blockchain innovation. He believes that it has great potential for growth. He also believes that the market capitalization of the crypto market will reach up to $10 trillion in the next decade. Michael intends to contribute a major portion of his wealth in digital resources in the coming years.
4. Brian Armstrong
Brian Armstrong is the founder of a famous crypto exchange,i.e., Coinbase. It is one of the biggest trading platforms in the USA. The exchange was established in 2012 after Brian left his job as a software engineer. Armstrong has a 19% stake in Coinbase and is assessed to be valued at $10.4 billion by Forbes. Bloomberg also mentioned his name in the list of crypto billionaires. In the meantime, if you also want to invest in BTC or other digital currencies, then consider checking out https://bitcoin-loophole.live/.
Should you invest in cryptocurrency?
Now that you know how people are becoming wealthy by putting their resources in crypto currencies, it is your time to decide whether you want to take this step for yourself or not. Here are few reasons that might be convincing enough for you to invest your money in cryptocurrency:
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Security:
Cryptographic money permits the financial backers to convert their funds into digital money and hold them safely, without depending on any banking system. The very purpose for the development of BTC was to sidestep the conventional financial system and make money that is not regulated by any central authority.
With various choices accessible to store their digital resources, financial backers can pick the sort of crypto wallet with which they are generally comfortable, permitting them to enjoy the peace of mind that their digital coins stay completely safe.
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Decentralized:
Another benefit of using cryptocurrency is that it is decentralized, meaning there is no central authority or third party responsible for its regulation. Whenever you make any transactions using crypto coins, there is no involvement of any third person. It also helps in reducing the transaction charges. This is the main reason why people are shifting to digital currency these days.
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Inflation resistant:
Another benefit of putting resources into crypto is that they are not the same as traditional money. Because of its restricted nature, it isn’t affected by the issues of inflation that might be responsible for destroying many offline business sectors. If the problem of inflation occurs in the country, the prices of crypto coins will not get affected by it.
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Convenience:
Electronic payments have become a popular method of payments these days. Digital currencies are the future of the world. You can use it to make transactions from anywhere around the globe and at any point of time. All you need is a cell phone or a laptop and a good web connection to make payments using cryptocurrencies. With all such convenience, who wouldn’t like to put his resource in digital currency?
To sum up
Cryptocurrency has become a popular source of investment in recent years. Many famous business owners like Elon Musk, Michael Novogratz, Changpeng Zhao, and Brian Armstrong have invested enormous amounts of money in cryptocurrency. If you are also planning to invest in digital currency, it is better for you to evaluate the pros and cons of it before making the final decision. We have also shared major benefits of investing in digital currency for you to study.
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