Bitcoin Investment: Ten Billionaires Who Have Endorsed Bitcoins
Bitcoin was first introduced in the financial world in 2009 by Satoshi Nakamoto. Over the years, the platform has been growing and advancing into mainstream adoption, attracting millions of users and millions of transactions daily. It has hit a market capitalization of 337 billion US dollars at the time of writing.
Many business moguls, celebrities, and movers and shakers of the global economy have contributed positively to making bitcoin great. Some of them use their institutions to invest in bitcoin or implant bitcoin as their payment methods, while others have chosen to see individual wealth. This list contains ten billionaires who have been vocal about bitcoins and others who have invested in bitcoin.
Stanley Druckenmiller is an American investor and philanthropist with an average net worth of 4 billion USD. Stan is the founder and former chairman of Duquesne Capital, a hedge fund company. He’s worked in managerial positions for different companies, including Quantum fund and Dreyfus fund.
In 2020, the mogul in an interview characterized bitcoin as an asset class with a store of value. He stated that he has investments in gold but still think bitcoin is a better investment option.
Jack Dorsey is a technology mogul, co-founder, and CEO of Twitter. He’s worth over 10 billion dollars, with most of his wealth coming from Twitter and his new payment company dubbed Square. According to a September 2020 Forbes report, Jack is one of the top moguls to endorse bitcoin.
Mr. Dorsey stated that Bitcoin is the best digital currency because of its internet hub and consensus-driven characteristics. He suggested that the world needs a severe native internet currency to allow everyone to participate in the online economy. According to him, bitcoin is the best manifestation of internet currency. Jack, however, cautioned that the coin still needs some work before it goes mainstream.
Paul Tudor Jones
Paul Tudor Jones is a hedge fund manager with a net worth of over 5 billion USD. He founded Tudor Investment Corporation, a company aiming to manage assets. He’s most famous for predicting the 1987 market crash, where he primarily benefited.
Jones revealed that he had invested 2% of his assets in bitcoin to hedge against inflation. Additionally, he praised the dedication of the bitcoin community to make the platform more excellent.
Chamath Palihapitiya is a Canadian-American venture capitalist, founder, and CEO of social capital. The Srilanka born mogul has an engineering background but garnered fortunes over the years until hitting a billion US dollar mark. He has worked at Facebook and collected capital to venture into his investments.
This businessman stated that he bought bitcoin several years ago at an average price of $100 each. He believes that bitcoin will, in a few years, be worth 100 thousand USD and might hit a million dollar mark in 20 years. Chamath compared bitcoin to a quasi gold standard telling people to invest.
Abigail Johnson is a great American Businesswoman, CEO, and president of Fidelity Investments. She chairs the board of Fidelity International, a sister company of Fidelity investment. Abigail has had tremendous contributions to the company’s development over the years, accumulating a personal wealth of over 15 million dollars.
She has been highly vocal on matters of bitcoin. Johnson and the digital fund’s director of Fidelity filed paperwork at the US security exchange to create a bitcoin dedicated fund. She also revealed that she was mining bitcoin in the previous years, and therefore her bitcoin endorsement is vital for bitcoins growth.
Tim Draper is a venture capital investor, Draper University, Draper Venture Network, Draper Fisher Jurvetson, Draper Gorem hall, and Draper associates. Having invested in big companies like Tesla, Twitter, Robinhood, Coinbase, Hotmail, etc., Timothy is one person whose word in finance is highly impactful.
Over the years, he has induced people into purchasing bitcoin and believes that bitcoin will be worth more than 250 thousand USD. Tim believes that bitcoin is a great digital investment prospect. He’s also one of the top 10 early cryptocurrency investors that made huge profits.
Eric Schmidt is a businessman and software engineer who has been the CEO of Google and has served in other executive positions. The estimates about his net worth are around 11 billion dollars.
The businessman has since the early bitcoin days been a severe supporter of its cryptographic developments and advancements. He mainly focused on bitcoin’s technology and advancements. Moreover, he uses his Twitter account in some instances to support bitcoin.
Most stakeholders in this list are hedge fund investors, which is similar to Michael Novogratz. He is currently the chairman, CEO, and founder of galaxy digital and is worth around 1 billion USD.
In a bitcoin report, Michael said that bitcoin could outperform gold. Michael suggested that it’s better to hold bitcoin than gold, especially in the stock market’s recent tough times. He expects severe rises in Bitcoin prices in the future years.
Michael Dell, the CEO and Chairman of Dell technologies, are also among the world’s wealthiest people to endorse BTC. The businessman is worth around 27 billion US dollars. In 2014, Dell accepted bitcoin as a payment mode, a partnership that lasted for a few years until about 2017, where the company issued a statement withdrawing bitcoin services.
However, the bitcoin withdrawal was owing to the low demand for the payment method and not any other issues. In the same statement, Dell helped people understand how to use bitcoin and the benefits. That clearly shows that Michael Dell is a big supporter of the bitcoin economy.
According to Forbes, Larry Ellison is among the top 10 wealthiest people in the world today, and that’s because he has a net worth of around 50 Billion dollars. Larry is a business investor, a co-founder, chairman, and CTO of the Oracle corporation. In the recent past, Larry has been vocal about Bitcoin and its blockchain technology. He has also talked about other crypto assets but always favors BTC, according to reports.
Looking at the bitcoin top endorsers helps clarify the issues about the future of the currency. Some of the world’s wealthiest people believe that bitcoin is a worthy investment and that in the future, it could reach mainstream adoption if it fully handles its downsides. Some of these people have even gone to the extent of telling how much bitcoin they own. Others do not value bitcoin as a currency but focus on its backing technology, which will soon hit mainstream adoption.
Investing in bitcoin now could seem like an unworthy deal, but it might soon overthrow gold when thinking about it as a store of value. Investors, both small and large, should focus their investments on the crypto world for maximized benefits.