There was a point in history when individuals were transferring thousands of Bitcoins across the internet for a variety of reasons, including online betting on websites like CasinoChan, tipping at restaurants, and even purchasing narcotics. There was a point when individuals were transferring thousands of Bitcoins across the internet for a variety of reasons, including online betting, tipping, and even purchasing narcotics. A guy allegedly paid 10,000 BTC to get two Papa John’s pizzas delivered to him. What none of these people knew was that their few pennies of digital currency would someday be worth $65,000 per coin.
Those who predicted it are now known as crypto gazillionaires. For many investors, the power of HODLing Bitcoin, along with tactics to obtain more crypto, has proven to be the finest financial option. Let’s find out who are the top three people who have the most Bitcoins so far.
Satoshi Nakamoto is a name frequently heard in the crypto scene—but who is Nakamoto? Better yet, who are Nakamoto? Somewhat of an urban legend, Satoshi Nakamoto is essentially a phantom—a mystery person or group who released the whitepaper for Bitcoin in 2008. Bitcoin was built as a decentralized alternative to the global financial system.
This implies the system may work without a central authority and move cash from one account to another. Transferring money is simple with a central controller; just tell the bank you want to withdraw a certain amount from your account and put it in someone else’s. In this situation, the bank has complete control over whether the transaction is accepted, rejected, delayed, or charged.
Not only that, but the bank also has the authority to amend the system’s ledger of all account balances. Satoshi Nakamoto gave the capacity to add and confirm transactions to a public record called the blockchain with Bitcoin. Obtaining a computer machine and connecting it to the Bitcoin network through its modified mainnet was all that was required.
Users’ computers battled to predict a random number produced by the Bitcoin protocol in this way. Those that guessed the proper number accurately received fresh Bitcoin units. They also had the opportunity to add to the blockchain’s next page of Bitcoin transactions. This way, Nakamoto became known as the very first Bitcoin miner in history. As a result, Nakamoto became the first to amass a large number of Bitcoin units. They have yet to cash out a single Bitcoin. Satoshi Nakamoto’s net worth is estimated to be at least 1 million Bitcoins ($32.95 billion at current exchange rates).
However, as Nakamoto has chosen secrecy, there is no way of knowing whether or not their 1 million BTC will ever be paid out. Australian computer programmer Craig Wright has claimed to be Nakamoto on several occasions, but has been unable to offer any proof that he owns Bitcoin from the genesis block.
Investors who wish to HODL and increase their Bitcoin holdings through tactical investments across space can look at Barry Silbert as an example. Digital Currency Group is led by Silbert, who is also the company’s founder and CEO. This corporation actively seeks to place Bitcoin at the forefront of the global financial system’s development. The 43-year-old billionaire has invested in over 100 Bitcoin-related startups and enterprises through his DCG holding company, often through active mergers and acquisitions.
Moreover, Silbert owns Coindesk—this is one of the world’s biggest cryptocurrency news and analysis firms. Silbert also controls Genesis, one of the most well-known regulated cryptocurrency exchanges. Accredited investors can acquire exposure to Bitcoin marketplaces through a controlled Grayscale Bitcoin Trust (GBTC) share, thanks to Grayscale Investments, a New York-based investing firm. One Bitcoin is equal to 1,000 GBTC units.
Grayscale alone has 654,600 BTC worth $21.46 billion. The capital, on the other hand, indicates the number of GBTC shares that have been issued. Investors who bought GBTC with Bitcoin cannot get their money back; they must sell the shares on secondary marketplaces. Grayscale has been dubbed a “Bitcoin black hole” as a result of this. While Silbert has a net worth of $3.2 billion, nobody knows how much Bitcoin he holds.
Michael Saylor, the CEO of MicroStrategy, a publicly listed business intelligence company in the United States, has received the label of greatest dip buyer. In 2020, the 56-year-old businessman started on a Bitcoin purchasing binge with the goal of replacing over 80% of his company’s cash holdings with cryptocurrency.
In August 2020, he made his first $250 million Bitcoin buy. The globe was battling with the pandemic and its influence on the global economy at the time. The west’s central banks had released unrestricted quantitative easing to protect markets from a downturn while underdeveloped nations suffered significant economic hardship.
Saylor stated unequivocally that he saw Bitcoin as a buffer against global economic chaos, particularly cash, which has been losing value owing to high market liquidity. As central bank policies remained liberal, including near-zero interest rates, Saylor began to increase MicroStrategy’s Bitcoin exposure. In the sense that the company now owns 105,085 BTC worth $3.44 billion. Saylor admits to owning 17,732 Bitcoins worth $175 million. The asset is now valued at $582.9 million.