There’s no doubt that the price of cryptocurrencies has risen sharply over the last year. Although some analysts have warned that cryptocurrencies are in a speculative phase, most investors continue to pour money into digital currencies. According to Coinmarketcap, the total market capitalization of cryptocurrencies is now $214 billion. That means that every single crypto has a value greater than one digital currency. No other segment has shown this kind of exponential growth in such a short time as cryptos have done so since the beginning of 2018. The meteoric rise in prices has attracted many big names into the world of cryptocurrencies and blockchain. This boom has also made some extremely wealthy individuals even richer. We take a look at who is the richest person in cryptocurrency until now and how much money they stand to make from their newfound wealth…
Bitcoin – Satoshi Nakamoto
The inventor of Bitcoin is the richest person in cryptocurrency until now. The identity of Satoshi Nakamoto is one of the biggest mysteries in the world of finance. His or her identity remains elusive, but it is certain that Nakamoto is a man. Over the years, many people have claimed to be the inventor of Bitcoin, but none of them were ever able to provide any concrete evidence to back up their claims. In contrast, Satoshi Nakamoto left behind a treasure trove of clues that point to him or her as the inventor of Bitcoin. Bitcoin was the first decentralized cryptocurrency, meaning it was the first to solve the double-spending problem without using a trusted third party. It was also the first decentralized peer-to-peer decentralized virtual currency without an intermediary.
Also Read- What Is Dogecoin and How To Invest In It
Ethereum – Vitalik Buterin
Ethereum is the second-largest cryptocurrency by market cap. Its inventor is the 20-year-old Canadian programmer, Vitalik Buterin. Unlike Bitcoin, which is primarily a store of value, Ethereum was created to facilitate the flow of resources and assets. Ethereum was the first blockchain to implement smart contracts, which are computer programs that run automatically on the Ethereum network. These contracts can execute when certain conditions are met and can be used to exchange money, property, shares, and other assets.
Ripple – Brad Garlinghouse
Brad Garlinghouse is the CEO and president of Ripple. Before he launched the XRP token, he co-founded the digital payment system, OmniSend. The Omni protocol is the foundation for sending digital assets, including XRP. In the early days of XRP, the token wasn’t worth anything. Meanwhile, Ripple’s parent company, Ripple Labs Inc., was valued at almost $1 billion. However, Ripple Labs Inc. owns almost 60% of the tokens. Currently, XRP is the second-largest cryptocurrency by market capitalization. The Ripple team is headed by a group of former bank executives and Ripple Labs Inc. has been successful in attracting many big financial institutions as partners for Ripple’s distributed financial technology, including American Express, Bank of America, Santander, and others.
Litecoin – Charlie Lee
The inventor of Litecoin is also its biggest supporter. Charlie Lee was with Coinbase, one of the largest cryptocurrency exchanges, before he left the company to focus on creating a digital currency. Like Bitcoin, Litecoin was inspired by the idea of a decentralized digital currency, but it was designed to be more efficient. The Litecoin network can handle a higher volume of transactions and can be used as a medium of exchange. Until now, there has been a lot of debate about whether Litecoin has outperformed Bitcoin. However, the truth is that these two cryptocurrency networks are very different. Bitcoin is almost 20 years old, while Litecoin is only about 5 years old.
NEO – Neo Hong && Neo Feng Zhou
Although it is still very young, NEO has already grown to become one of the largest cryptocurrencies. NEO’s founder is a Chinese-French entrepreneur, who goes by the name, Neo Hong. NEO is an open-source blockchain platform that is completely free to use. The technology could be used to issue digital assets. NEO also has a blockchain system that can be used for the verification and digitization of assets. In the race to become the richest person in cryptocurrency, NEO emerges as the winner. However, if NEO’s growth continues at the same pace, it will be difficult for NEO to catch up with the other coins.
Cardano – Charles Hayter
Cardano is one of the relatively younger cryptocurrencies. Its inventor, Charles Hayter, is a well-known trader. He is also the founder of the investment management firm, ILE. The technology behind Cardano is called “DLT.” It allows the transfer of assets between users without the need for a third party. The system is scalable and decentralized, while also being secure and efficient. In the race to become the richest person in cryptocurrency, Charles Hayter is already a billionaire. The value of his shares in ILE has increased by 10,000%. The Cardano blockchain has a market capitalization of $4 billion dollars.
The race to become the richest person in cryptocurrency has just begun. The world’s richest person could soon be someone from the new generation of cryptocurrency. That rich person could be the inventor of NEO, the owner of Cardano, or someone completely different. It’s anyone’s guess. Cryptocurrencies will continue to rise in value as investors continue to pour money into the ecosystem. The race to become the richest person in cryptocurrency is sure to bring more wealth as the market continues to grow.