Crypto’s winners and losers: who’s cashing in on the Bitcoin boom?

Crypto’s winners and losers: who’s cashing in on the Bitcoin boom?
фото показано с : invezz.com

2024-11-20 14:48

The cryptocurrency world is awash in new wealth as Bitcoin’s record-breaking climb above $90,000 propels the total value of digital assets past a staggering $3.2 trillion.

Forbes estimates that 11 of the top crypto billionaires, whose holdings are predominantly liquid tokens and stocks, have collectively added $38 billion to their fortunes in 2024.

Remarkably, $24 billion of this increase, a full 63%, has accrued since September 1, coinciding with growing confidence in Donald Trump’s eventual presidential election victory.

Publicly traded companies lead the percentage gains

The most striking percentage gains belong to leaders of publicly traded companies whose stocks function as high-beta plays on Bitcoin itself.

Leading the pack is Michael Saylor, chairman of MicroStrategy, a company renowned for holding the world’s largest corporate Bitcoin stash, valued at $25.6 billion.

MicroStrategy’s stock has skyrocketed an astounding 464% year-to-date, dwarfing Bitcoin’s 110% rise.

Saylor’s net worth, primarily composed of Bitcoin and his MicroStrategy stake, surged by 291% to reach $8.8 billion.

Trailing closely behind is Galaxy Digital CEO Mike Novogratz, whose net worth jumped 123% to $5.9 billion, fueled by his company’s 150% stock price surge.

Coinbase CEO sees fortune swell

Brian Armstrong, CEO of Coinbase, also experienced a dramatic wealth increase.

His net worth climbed 80% from $7.6 billion to $13.8 billion, solidifying his position as the second-richest person in crypto.

A significant portion of this gain, a whopping $5.7 billion, materialized in the last two months, mirroring Coinbase’s 74% stock surge during the same period.

Changpeng Zhao’s complex path to increased wealth

Despite recent legal challenges, former Binance CEO Changpeng Zhao saw the largest overall dollar gain.

Following a four-month prison sentence stemming from a plea agreement with the Department of Justice for anti-money laundering and sanctions violations, Zhao’s wealth, primarily a $33 billion stake in Binance, coupled with a previously uncovered 94 million BNB tokens, grew from $47.3 billion to $63.1 billion.

However, in percentage terms, Zhao’s 33% increase places him near the bottom of the “Crypto Billionaire Gainers” list, reflecting the more modest 89% rise in BNB, Binance’s native digital asset.

Ripple co-founders remain flat

Not all crypto billionaires shared in the bonanza. Ripple co-founders Chris Larsen and Jed McCaleb experienced stagnant net worths.

Larsen, whose wealth is half tied to XRP, the digital asset of the XRP Ledger, remained at approximately $3.3 billion.

McCaleb, holding 1 billion XLM tokens from the Stellar network, similarly plateaued at $2.9 billion.

This stagnation reflects the lackluster performance of XRP, up less than 1%, and XLM, down 11%, this year.

Forbes previously identified both XRP Ledger and Stellar as “crypto zombies” due to their limited utility despite significant market capitalizations.

The post Crypto's winners and losers: who's cashing in on the Bitcoin boom? appeared first on Invezz

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Источник: invezz.com

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