Bitcoin is a digital asset and payment system with a market capitalization of around $1.35 trillionas of April 10, 2024. It is considered by many to be one of the most successful digital currencies ever created. The first-ever bitcoin exchange-traded fund (ETF) was launched in October 2021, pushing the cryptocurrency to a high of $69,000. In March 2024, the cryptocurrency reached $75,830 on Exmo, an exchange in Poland.
Bitcoin's stratospheric rise since 2009 has created a surprising and diverse set of millionaires (and billionaires). But who owns the most bitcoin? It is tough to say who owns the most bitcoin, as wallet addresses are anonymous if they are not associated with the account owner's name. The only way to tell is if the owner has publicized their holdings.
The following is a list of entrepreneurs or investors who have accumulated the most net worth derived from Bitcoin—at least according to public knowledge. Many bitcoin holders have made their wealth by creating products to grow Bitcoin's still-nascent ecosystem. For example, some have created exchanges for trading cryptocurrency and the derivatives that have emerged from it.
Key Takeaways
- Launched in 2009, Bitcoin is the first and remains the most successful blockchain-based cryptocurrency in the world.
- The price of Bitcoin is volatile, ranging from under $10 in 2010 to a high of $75,830 in March 2024.
- Most top Bitcoin billionaires became rich by creating products and services to grow the cryptocurrency ecosystem.
- This overall price increase has also created millions for people who bought and held their bitcoins. These early adopters hoped for a lucrative opportunity, started accumulating or mining in the early days, and held on.
Changpeng Zhao (CZ)
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Changpeng Zhao founded Binance, the world's biggest cryptocurrency exchange by trading volume. According to Forbes, Zhao's net worth was $33 billion in April 2024.
Zhao, who immigrated to Canada at the age of 13 from China, came to Bitcoin via a poker game with friends. He went all-in on cryptocurrencies thereafter, even selling his apartment for Bitcoin in 2014. Binance, which was started in 2017, handles transactions that run into billions of dollars on a daily basis. While it may not be as well-known as Coinbase to U.S. customers, Binance is bigger and offers more coins and derivatives to customers than its main competitor.
The exchange's nimble ascent has taken a toll on its regulatory standing. It is under regulatory scrutiny in some financial jurisdictions and has been forced to operate without a headquarters.
Brian Armstrong
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Brian Armstrong founded Coinbase, North America's biggest cryptocurrency exchange by trading volume. He co-founded the exchange in 2012 after quitting his job as a software engineer at Airbnb. Armstrong reportedly has a 19% stake in Coinbase and was estimated to be worth $10.7 billion by Forbes in April 2024.
Due to its easy-to-use interface and credibility, Coinbase is considered the gateway for retail investors to join the crypto ecosystem. The exchange has suffered many hiccups, such as halts in trading while attempting to scale operations amid crypto volatility. The exchange went public in April 2021 and had a total market capitalization of $60.1 billion at the close of trading on April 9, 2024. Armstrong said he started Coinbase because he wanted the world to have a "global, open financial system that drove innovation and freedom."
Giancarlo Devasini
Giancarlo Devasini is an entrepreneur and former plastic surgeon who developed an interest in cryptocurrency. He serves as the chief financial officer for the cryptocurrency exchange Bitfinex and Tether, the popular stablecoin.
Devasini started his career in technology after deciding that medicine was not the path he wanted to take. He started a business, began importing computer parts, and grew his company. After retiring, he became interested in cryptocurrency, met the founder of Bitfinex in 2012, helped him grow the exchange, and has been involved in crypto ever since.
Forbes estimated that Devasini owns an approximate 47% stake in Tether and is worth about $9.2 billion.
Michael Saylor
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Bitcoin has attracted numerous unconventional investors over the years. None, however, has the zeal and enthusiasm of Michael Saylor, CEO of software firm MicroStrategy Inc. (MSTR). The firm began acquiring the cryptocurrency in August 2020 by snapping up $250 million in bitcoin. At that time, the firm said it was buying the cryptocurrency to better use the cash holdings on its balance sheet.
Over time, Saylor has become a fierce supporter of Bitcoin and has appeared at news and cryptocurrency conferences to evangelize its benefits and use cases. By December 2021, MicroStrategy had increased its holdings in Bitcoin to $3.5 billion, swooping in to buy the cryptocurrency during price dips.
In December 2022, Microstrategy again made a purchase, adding 2,500 more bitcoins to its holdings. The company continues purchasing the cryptocurrency, and as of April 2024, it holds about 190,000 bitcoins—about $13 billion.
Forbes estimates Saylor's net worth to be $4.4 billion as a result of his bet on Bitcoin.
Jean-Louis van der Velde
Bitfinex CEO (and former Tether CEO) and Netherland native Jean-Louis van der Velde started his career in information technology and tech startups. After several years as the chairman at the beleaguered tech company Huashun Electronics, van der Velde helped co-found Bitfinex in 2013.
Van der Velde reportedly owns about 20% of Tether and is worth an estimated $3.9 billion.
Who Is the Richest Crypto Billionaire?
According to the Forbes Real-Time Billionaires List, Changpeng Zhao, founder of cryptocurrency exchange Binance—is estimated to be worth $33 billion, making him the wealthiest person in cryptocurrencies.
Who Is the Biggest Crypto Owner?
The anonymous developer of Bitcoin, Satoshi Nakamoto, is rumored to hold more than 1 million bitcoins. However, this cannot be proven due to the pseudonymous nature of cryptocurrency. The address that holds the most bitcoin is 34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo, with more than 248,597 BTC. At April 2024 prices, that's more than $17 billion.
How Many Billionaires Own Crypto?
There are 16 cryptocurrency billionaires in Forbes' ranking of billionaires. Sam Bankman-Fried is still on the list as the seventeenth, but Forbes lists the ex-CEO of FTX with no wealth. There are likely many more billionaires who own crypto, but most do not publicize their holdings.
Which Crypto Has Made the Most Millionaires?
Of the four top cryptocurrencies, the most addresses with more than $1 million are Bitcoin addresses. BitInfoCharts shows that more than 116,000 addresses hold between $1 million and $10 million in Bitcoin. EtherScan lists only six addresses holding more than $1 million in ether, and OKLink lists 11 tether addresses with more than $1 million. BscScan lists seven BNB addresses holding over $1 million.
The Bottom Line
As cryptocurrencies became popular, the number of people making billions off the new asset class increased. Crypto billionaires are a motley bunch—some have made their billions by providing products and services to the emerging ecosystem, while others have generated profits by taking advantage of crypto volatility.
The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimerfor more info. As of the date this article was written, the author does not own cryptocurrency.
