30% Of BIllionaires Have Investments In Bitcoin Or Crypto

We all know that the financial and crypto markets are not in their best moment and that the gains of 2021 are now a far memory. But as a matter of fact the richest people in the world are keeping on investing in cryptocurrencies and Bitcoin. This is what a recent Forbes survey reveals. But let’s better understand what their survey found out.

The richest people are those who live on billion-dollar investments and you may expect them to get away from the crypto and BTC world during these times. But that’s not the case because in that special list of billionaires there are also a number of people who have built up huge amounts of wealth thanks to crypto or who are owners or investors in exchanges.

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But who are the richest people in the world investing in cryptocurrencies? It is still Forbes to tell us.Prominent names of billionaires include top-ranked Changpeng Zhao—who became the 19th richest person in the world with Forbes estimating that he owns at least 70% of Binance—and Michael Saylor of Microstrategy whom we wrote about recently. It is reported that, “in 2020 alone, the crypto enthusiast oversaw MicroStrategy’s purchase of over 70,000 bitcoins—at a cost of roughly $1.1 billion—using cash reserves and borrowed funds”. The list also includes FTX’s Sam Bankman-Fried, Coinbase’s Brian Armstrong, and the Winklevoss twins.

So to the contrary of what would is commonly thought, we are no more in an industry where kids, passionate risk-takers do their business.

Despite a market that punishes many businesses with large capital, there is a growing acceptance of crypto and Bitcoin as a normal investment asset regardless of how risky it is and how connected it is to the equity world (especially tech).Furthermore, there are a number of other interesting details in the Forbes survey that deserve further examination.

Some 30% of the 65 wealthiest people in the world were investors in crypto, either directly or indirectly, either from the purchase of crypto or from acquiring business interests in the sector, which could include the exchanges and the mining activities.

18% of the billionaires have at least 1% of their assets in crypto. Considering the value of the assets we are talking about, these are certainly significant sums, and they gain even greater importance when considering the ability that the billionaires possess to guide other investors.

The market’s resilience in the middle of a crisis shows that attitudes have changed from last year, when the vertical collapse of the whole industry began to cast doubt on whether it could actually last. So we might not be seeing a crypto market that is just surviving, but one that is thriving even in these moments. Today, despite the crisis that has hit the sector very hard, the situation is very different from the past cycles. And as the big names of finance continue to invest, it is clear what the long-term looks like for this industry.