Ten Cryptocurrency Early Investors that Made Huge Profits

Beginner’s Guide / 03.06.2019

“Only those who dare to fail greatly can ever achieve greatly”. – Robert Kennedy

In its earlier years, Bitcoin was believed to be of extremely great risk and only people that had the capacity to take such risks invested in it. Today, the cryptocurrency space is known for its decentralization and diversity; unlike the normal financial systems, the crypto market is not tied to one structural body – it is dispersed over a great number of areas, which makes it highly unregulated and volatile.

Despite this, some investors took the giant leap to invest in the market. These investors come in two sets of people: those who own little amounts, and those who own large amounts of crypto assets. By investing heavily, these people own humongous amounts of cryptocurrency, these are the individuals that have invested millions into the crypto market.

Some of them played incredibly huge roles in pushing for the mass adoption of cryptocurrency or investing in cryptocurrency, when it was just at a starting position. Before the hype, the glitz and the glam, they did not just talk and make noise on twitter, like some people – they actually took a risk, many of them making lots of profit on their initial investments.

Let’s see who are the top ten known cryptocurrency early investors!

The Winklevoss brothers

Undoubtedly the most popular investors, Cameron Winklevoss and Tyler Winklevoss, are known all around the world for their case against Mark Zuckerberg, the owner of Facebook, when the company was still young. Well, the brothers walked away from the case with $65 million dollars in their pockets and part of that money were used to buy Bitcoin. When Bitcoin rose in 2017, it was that the Winklevoss bothers are the first Bitcoin Billionaires.

With this fortune they both founded their own Cryptocurrency Exchange and Digital asset, Gemini and the Gemini dollar, respectively.

Michael Arrington

Michael is one of those people who would quit their jobs and then join the crypto hustle, and he did just that – though not in exact terms – he started a cryptocurrency hedge fund in 2017, which has come to grow so much that it was listed on Ripple’s XRP and some startups in Blockchain.

He is a controversial speaker, been known to say that cryptocurrencies, when starting up, constitute a very high risk, but at the same time, he has invested heavily in cryptocurrencies. He is very active in notable cryptocurrency conferences around the world.

Dan MoreheadDan Morehead

Quite different from the Winklevoss brothers; he owns one of the biggest names in the crypto world: Pantera Capital. Pantera Capital is an investment firm that funds a host of other companies, and one of them is Blockfolio – one of the most used crypto wallets. Pantera Capital manages over $500 million dollars’ worth of crypto assets and is one of the first companies to have invested in cryptocurrency.

Barry Silbert

Silbert is an Entrepreneur, the founder of the Digital Currency Group which has the vision to invest in as many promising crypto companies as possible.

How did he start? Well, Silbert started big crypto work when he bought the last Bitcoins available for $16 million, at an auction in 2014… Fortunately -a word used a lot of times when talking about people who invested early in Bitcoin- his initial $16 million are now $168 million dollars. He is also an active member on Twitter when it comes to matters on blockchain.

Olaf Carlson-Wee

Not as popular as the rest, but his cryptocurrency history is pretty amazing; while in college he disobeyed the words of his “well-meaning” college advisor and put everything he had in his savings into the purchase of Bitcoin…you can imagine the outcome. He is also one of the first people to be employed by the well-known Coinbase. Yet another amazing fact is that he was paid $50,000 as salary and all of it was in Bitcoin. He now runs a company that is worth $1 billion through its value, however the sum has drastically fallen, because of the current nature of the market.

The most remarkable thing about Olaf is the way he viewed Bitcoin at the very beginning, he saw in the seed a forest, and this earned him the title crypto OG, meaning crypto original gangster.

Ari David Paul

He is one of the “Lords” in the crypto sphere and occupies different prominent positions. He currently runs the well-known company BlockTower Capital, which manages a fortune of over $130 million.

Like Donald Trump, Paul is very visible on Twitter, sharing his thoughts which are quite insightful on the current affairs of cryptocurrency and the market.

Tim Draper

Just like Silbert, he became famous, for his purchase of 50,000 Bitcoin from the same Silk Road auction which had been seized by the U.S. Marshals office. After this, he became a crypto evangelist preaching the good news of crypto, even prophesying that bitcoin will rise to $10,000 in 2017 and it came to pass.

He is also know for a wild prediction: that Bitcoin will rise up to $250,000 dollars in the year 2022.

Anthony Pompalino

He is referred to, in the crypto world, as Pomp and he is the founder of Morgan Creek Digital. His company’s interest in creating avenues for others to invest in blockchain technology and its digital assets.

He did one of the craziest things any crypto investor could; he made an open bet of $1 million dollars that Bitcoin will eclipse the S&P 500 in 10 years, which goes against the theory of Warren Buffet that nothing can beat the market in just 10 years of its run.

Mike Novogratz

Mike Novogratz is said to have 30% of his net worth in crypto assets, which is quite large since Mike happens to be a multi-millionaire who was at one point a hedge fund manager at Goldman Sachs. He also helped raise $250 million for Galaxy Digital, which were invested in the acquisition of cryptocurrencies.

As of today, he has increased his ownership stake in the Galaxy Digital company to 80%, which proves his strong belief in the potential of cryptocurrency.

Closing Thoughts

“An intelligent investor sees an opportunity in dip than risk.” ― Mohith Agadi

Despite the high volatility in cryptocurrency and the naysayers like the Oracle of Omaha –  Warren Buffett, a lot of believers in the potential of cryptocurrency have made a lot of profit on their investments.

The dip in the value of Cryptocurrency has made a lot of cryptocurrency investors back out of it, selling most or all their crypto assets. However, there are a lot of investors which continue to believe that cryptocurrency is the future and it has come to stay. These investors weren’t lucky, they just chose the right side. Which side are you?

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Alo Kingsley is a Btech degree holder in Building Engineering and has been a strong Cryptocurrency & blockchain enthusiast with immense interest for privacy and masternode coins. He is a passionate cryptocurrency writer and social media marketer since 2017. With a passion for architecture and construction as well he seeks to find a way of seamlessly functioning in the two fields to help Africa and the world at large.