Top 5 Bitcoin Investors

Bitcoin is the largest blockchain-based digital asset with a market capitalization of $473.7 billion as of February 19, 2023. It is wildly popular among cryptocurrency enthusiasts and speculative investors. Several wealthy business owners and entrepreneurs have invested heavily in this digital asset. Here are some of the top bitcoin investors compiled from financial reports, blockchain sources, and the media.

Key Findings

  • Barry Silbert is the founder of Digital Currency Group, which invests in popular cryptocurrency and blockchain companies.
  • Michael Saylor is the CEO of MicroStrategy, which is heavily investing in Bitcoin.
  • Cameron and Tyler Winklevoss are considered the first Bitcoin billionaires, reportedly holding around 70,000 coins.
  • Elon Musk’s company Tesla purchased $1.5 billion worth of bitcoin in 2021, but as of 2022, its annual bid has dropped to $191 million.
  • Michael Novogratz founded Galaxy Digital Holdings, a cryptocurrency and digital asset management broker-dealer firm.

1. Barry Silbert

Barry Silbert is the founder and CEO of Digital Currency Group. The company aims to accelerate the development of the global financial system by building and supporting bitcoin and blockchain companies. Digital Currency Group has invested in 218 blockchain and cryptocurrency related companies.

Other portfolio companies include Genesis, a liquidity provider — an organization that funds a pool of cryptocurrencies — for buyers and sellers of cryptocurrencies in the OTC market. Digital Currency Group also invests in Grayscale Investments, which operates the Bitcoin Trust (GBTC), an investment vehicle that holds $15.6 billion worth of bitcoin as of February 19, 2023, giving investors access to its price dynamics without requiring them direct ownership. .

2. Michael Saylor

Michael Saylor, co-founder and CEO of business intelligence company MicroStrategy, believes cryptocurrency is the next biggest investment. MicroStrategy increased its holdings of bitcoins in 2022 by purchasing 8,813 bitcoins at an average price of $32,670. As of February 19, 2023, the company owns 132,500 bitcoins.

The total value of someone’s bitcoin changes with the market price, so an investor’s cryptocurrency portfolio may not always have the same dollar value.

3. Tyler and Cameron Winklevoss

Cameron and Tyler Winklevoss are investors in several cryptocurrencies and blockchain-related companies, most notably the private exchange Gemini. They are believed to be the first to achieve billionaire status by investing in bitcoin, who own about 70,000 coins according to Forbes.

The Winklevoss twins launched the Gemini exchange in 2015. The company allows investors to buy, sell and store their digital assets. Gemini launched Bitcoin futures on the CBOE Options Exchange (CBOE) in December 2017.

In addition to bitcoin, the brothers are heavily investing in Ethereum, although they have not disclosed their exact holdings.

4. Elon Musk

Elon Musk is the CEO and co-founder of Tesla (and other companies). Tesla designs and manufactures electric vehicles and clean energy products. As an innovative company at the forefront of technology, you should expect it to own cryptocurrencies – Tesla purchased $1.5 billion worth of bitcoin in 2021 to start accepting it as a form of payment. According to the 2022 annual report, the company has converted 75% of its digital assets, reducing its holdings to $191 million.

5. Michael Novogratz

Michael Novogratz, a former hedge fund manager at Fortress Investment Group and partner at Goldman Sachs, often comments on bitcoin’s price action. He is the founder, CEO, and chairman of Galaxy Digital Holdings, a brokerage and dealer company that offers a full range of services related to blockchain-related assets.

Galaxy Digital Holdings has a stake in almost every digital asset of value, from bitcoin to NFTs.

Galaxy Digital focuses on digital assets; in the third quarter of 2021, he acquired companies related to non-fungible tokens (NFTs) worth $62 million. NFTs are digital assets that use blockchain technology for security and owner identification. They took off in 2021 when NFT-protected digital art began selling for millions of dollars.

Galaxy reported approximately $2 billion in assets under management in its Q3 2022 results, of which $875 million was used in its fund products.

How do beginners buy bitcoins?

You can buy bitcoin on several exchanges such as Coinbase, Kraken, Binance or Gemini.

Why is bitcoin dangerous?

Losing capital is the most significant risk when you invest in bitcoin because its price is highly volatile. You can make or lose thousands of dollars in one day.

How to convert bitcoin to cash?

You can convert bitcoins into cash by selling them on a cryptocurrency exchange and transferring the funds to your bank account.

bottom line

Bitcoin and cryptocurrencies are unstable investments, but many people continue to invest heavily in them, hoping that they will return to and exceed their previous highs.

Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is highly risky and speculative, and this article does not constitute a recommendation by Investopedia or the author to invest in cryptocurrencies or other ICOs. Because each person’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. At the time of this writing, the author owns 0.001 bitcoin.

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