Cryptocurrency has gained a lot of popularity in recent years. There are many digital currencies in which you can invest your money but the most valuable out of them is Bitcoin. It has a market capitalization of about $756 million. Many wealthy business owners invest in this digital asset because it has a great potential of growing. In this article, we will be discussing the top investors in cryptocurrency. Let us have a look at these rich entrepreneurs one by one:
1. Changpeng Zhao (CZ):
Do you the mind behind one of the biggest cryptocurrency exchange i.e. Binance? Changpeng Zhao is the man who founded binance. According to research, his net worth is around $100 billion which is huge. His net worth has increased exponentially in the past years. Zhao has done a lot of struggle in his life. He was just 13 years old when shifted to Canada from China.He came to know about bitcoin while playing poker with his friends. As soon as he realized its worth, he sold his apartment to buy it in 2014.
Binance was launched in 2017 and every day it has to manage transactions of billion dollars. It is not as famous as coinbase in the USA but it surely has more digital coin options to its customers. In an interview, he said that he doesn’t care about becoming wealthy. He will give away most of his wealth by the time he dies.
2. Barry Silbert:
Barry Silbert is the chief executive officer and the founder of a cryptocurrency group. This group is meant to support the innovation of bitcoin and blockchain. It has invested in almost 168 companies that are related to cryptocurrency and blockchain. Other portfolio organizations incorporate Genesis, a liquidity supplier — an element that finances a pool with digital currency — for cryptographic money purchasers and merchants in the over-the-counter market.
3. Michael Saylor:
Bitcoin has drawn in various modern financial backers throughout the long term. None, be that as it may, has the excitement and zeal of Michael Saylor, CEO of MicroStrategy Inc. (MSTR), which is a software firm. The firm started getting the cryptographic money in August 2020 by gobbling up Bitcoin worth $250 million. Around then, the firm said it was purchasing the digital money to utilize the cash holding in the balance sheet in a better way.
Over the long run, Saylor has turned into a wild supporter of BTC and showed up on news and cryptographic money gatherings to proselytize its advantages and use cases. By December 2021, his firm had expanded its holdings in BTC to $3.5 billion, dipping in to purchase the digital currency during cost dips. This technique has been beneficial for Saylor and his company.
Benefits of investing in cryptocurrency
Have you been planning to invest in cryptocurrency for quite a while now but still confused about it? If yes, then you should learn about the various advantages of digital currencies. Let us study about these benefits one by one:
Anybody can utilize digital currency. All you want is a PC or cell phone and a good internet connection. The procedure of setting up a cryptographic money wallet is very quick in comparison to opening a traditional bank account. There is not requirement of ID verification and there is no credit check.
Digital currency offers a way for the unbanked to access monetary services without going through a centralized authority. There are many reasons an individual might not be able to get a conventional bank account. Such individuals can use digital currencies to make payments online and send money to their family members living in different parts of the world. All you have to do is find a reliable exchange that can help you make such transactions. Check out BitcoinPrime to make transactions easier using cryptocurrencies.
If you have any desire to purchase anything from a dealer and pay with a debit or credit card, you have to share the details of your card with him. You should give the dealer your pin code to make a payment. What method of payment do you think is most secure? Clearly, your pin code is very private, and you do not want to uncover it to anyone. This isn’t an issue with digital currencies.
You don’t need to uncover your private key with anybody while making transactions using crypto coins. Indeed, even the cash you make will be totally encrypted; nobody will actually get to know about your payment details, and it won’t ever get spreaded. This is the main reason why people are switching to digital currency these days.
One advantage of cryptocurrency is that it is essentially decentralized. Numerous cryptographic forms of money are under the control of the developers who create and use them before everyone else in the market. Decentralization means that there is no third party like the central government involved in its regulation. This also helps in cutting down the transaction fees.
Great for long-term investment:
These days, everybody is looking forward to making long-term investments. Despite the fact that cryptocurrency is volatile in nature, putting your resources in it for the long haul is viewed as very beneficial as it has a great potential to grow in the future. It will make your post-retirement life simple and furnish you with a dependable hotspot for monetary issues. Many investors have started viewing cryptocurrency as a long-term investment already and not something for the short-term benefits.
TO SUM UP
There are many wealthy business owners that believe in the potential of cryptocurrency. They have long ago realized that it is the future of the digital world, which is why they are the biggest investors in cryptocurrency at the moment. Changpeng Zhao, Michael Saylor, and Barry Silbert are among those rich names who have earned a lot of money through cryptocurrency.