Ten Cryptocurrency Early Investors that Made Huge Profits
“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 many areas, making 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 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 worldwide for their case against Mark Zuckerberg, 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 was used to buy Bitcoin. When Bitcoin rose in 2017, it was that the Winklevoss brothers are the first Bitcoin Billionaires.
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.
Silbert is an Entrepreneur, the Digital Currency Group founder, 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 many 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 the blockchain.
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 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 a forest in the seed, which 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 obvious on Twitter, sharing his thoughts, which are quite insightful on the current affairs of cryptocurrency and the market.
Like Silbert, he became famous for his 50,000 Bitcoin purchase 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 known for a wild prediction: Bitcoin will rise to 250,000 dollars in 2022.
In the crypto world, he is referred to 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 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 was invested in acquiring cryptocurrencies.
Today, he has increased his ownership stake in the Galaxy Digital company to 80%, which proves his strong belief in the potential of cryptocurrency.
“An intelligent investor sees an opportunity in dip than risk.” ― Mohith Agadi
Although the high volatility in cryptocurrency and the naysayers like the Oracle of Omaha – Warren Buffett, many believers in the potential of cryptocurrency have made a lot of profit on their investments.
The dip in Cryptocurrency’s value has made many cryptocurrency investors back out of it, selling most or all their crypto assets. However, many investors 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 on?