In just 10 years, the price of Bitcoin has increased by as much as 13.8 million times, which not only attracted a large number of investors, but also led to the rise of many cryptocurrency companies, creating one billionaire after another.
The 2022 Global Rich List is out! 19 people became billionaires with Bitcoin
According to Forbes’ latest “Global Rich List”, a total of 19 billionaires have made their fortunes by investing in cryptocurrencies and blockchain technology in 2022, seven more than in previous years.
The newly rich include the founders of Web3 infrastructure company Alchemy, NFT trading platform OpenSea and cryptocurrency derivatives exchange FTX. The three most valuable billionaires are all founders of cryptocurrency exchanges: Changpeng Zhao (Binance), Sam Bankman-Fried (FTX) and Brian Armstrong (Coinbase).
2022 Crypto Rich List
| Crypto millionaire | Main source of wealth | Total Assets (US$) | |
| 1 | 趙長鵬 | Open a cryptocurrency exchange | 65 billion |
| 2 | Sam Bankman-Fried | Open a cryptocurrency exchange | 24 billion |
| 3 | Brian Armstrong | Open a cryptocurrency exchange | 6.6 billion |
| 4 | Gary Wang | Open a cryptocurrency exchange | 5.9 billion |
| 5 | Chris Larsen | Develop cryptocurrency | 4.3 billion |
| 6 | Cameron Winklevoss | Invest in Bitcoin | 4 billion |
| 7 | Tyler Winklevoss | Invest in Bitcoin | 4 billion |
| 8 | Son Chi-hyung | Open a cryptocurrency exchange | 3.7 billion |
| 9 | Barry Silbert | Invest in blockchain-related innovations | 3.2 billion |
| 10 | Jed McCaleb | Develop cryptocurrency | 2.5 billion |
| 11 | Nikhil Viswanathan | Invest in blockchain-related innovations | 2.4 billion |
| 12 | Joseph Lau | Invest in blockchain-related innovations | 2.4 billion |
| 13 | Devin Finzer | Open NFT trading platform | 2.2 billion |
| 14 | Alex Atallah | Open NFT trading platform | 2.2 billion |
| 15 | Fred Ehrsam | Open a cryptocurrency exchange | 2.1 billion |
| 16 | Kim Hyoung-nyon | Open a cryptocurrency exchange | 1.9 billion |
| 17 | Michael Saylor | Invest in Bitcoin | 1.6 billion |
| 18 | Mathhew Roszak | Invest in Bitcoin | 1.4 billion |
| 19 | Tim Draper | Invest in Bitcoin | 1.2 billion |
Can Bitcoin reach new highs?
Nine out of ten of the 19 cryptocurrency billionaires above got rich by holding and investing in Bitcoin.
Is it possible for Bitcoin to break new highs in the future?
The answer is yes.
Bitcoins are valuable because from the moment they are issued, their total number is limited to 21 million. A limited supply means Bitcoin is scarce and does not devalue the currency due to an infinite supply.
In other words, when the number of new bitcoins becomes less and less and the market demand continues to grow, bitcoins will become more and more “valuable”, driving the price of bitcoins to rise.
Although the market conditions in the currency circle have fluctuated slightly in recent days, judging from the trend over the years, it seems that Bitcoin can rebound and hit a new round of highs after a short-term market adjustment.
Bloomberg analyst Mike McGlone also said that as the market moves similar to that during the bear market trough in 2018, Bitcoin has the opportunity to see a bullish rebound in the second half of the year and enter an “epic bull market.”