update 18 October 2021

Billionaires Who Have Publicly Showed Interest in Cryptocurrencies

The cryptocurrency boom of 2017 saw a rise in their acceptance from prominent economic figures. Since then, their volatility hasn’t stopped significant investments in them. Today there’s a push for their global mass adoption. Industry-leading lights and renowned celebrities have expressed their support for the assets.

Nothing best captures this reality than Forbes’s recent list of the world’s wealthiest people. It indicates a growth in the number of crypto billionaires over time. From an asset that courted controversy and skepticism, the acceptance of cryptos keeps growing. They fill the loopholes of traditional finance that are central to a thriving global economy.

Recent events have proven the power of economic icons in endorsing them. A crypto-asset can gain or lose value following a public endorsement or rejection by an influential figure. Dogecoin, for instance, thrived after Elon Musk and Mark Cuban showed support for the meme-based crypto coin. As investors look for opportunities to secure their wealth, here are billionaires who support cryptocurrencies.

Billionaires with Interest in Cryptocurrencies

Analytical economists have shaped the economies of the world throughout history. They saw opportunities where others witnessed difficulties. Cryptocurrencies have offered investors a way out of poor economic management by governments. Moreover, some Wall Street billionaires support cryptos, indicating cryptocurrency’s financial strength in the world economy.

Elon Musk

The CEO of Tesla INC is famous for revolutionizing the transport industry by introducing electric cars. Tesla products are light years ahead of technology. Furthermore, his current plan is to enable space travel using SpaceX. Due to his deep appreciation for technology, he terms cryptocurrency as a brilliant innovation.

His support saw Dogecoin (a crypto coin developed as a joke) rise in crypto ranks. In addition, musk mentioned that Tesla INC would accept payment in Bitcoin for purchases made. Finally, he described the Bitcoin structure as brilliant. Also, he mentioned that if it bypasses currency control, the world will do away with paper money.

Mark Zuckerberg

Mark Zuckerberg is a co-founder and investor in many corporate entities that have shaped modern-day communication. His support for cryptocurrency has gone beyond mere talk. Zuckerberg took steps to be part of the cryptocurrency economy. He is actively developing a crypto coin that will work on Facebook. This has, however, brought controversy due to extensive Facebook adoption and user cases.

Mark plans on launching Diem, a digital payment project that will include a USD-backed stablecoin. Diem was formerly Libra but later rebranded in 2020. Zuckerberg said that sending money should be as easy as sharing photos.

Jack Ma

The co-founder and chairman of Alibaba Group lead the most prominent global E-commerce business. Jack Ma has kept an open mind about cryptocurrencies, especially Bitcoin. He has shown support for blockchain technology and termed it tremendous. According to him, Alibaba and Alipay will use it to build a more cashless society.

Speaking at the Bund Summit in Shanghai, he stated that digital currencies could play a significant role in the global financial system.

Larry Ellison

Larry Ellison is the co-founder of the global database management company Oracle. He has shown support for Bitcoin and the blockchain technology behind it. According to him, technology is central to developing digital finance. He hopes that companies will use the technology on a larger scale.

Michael Bloomberg

Michael is among the topmost affluent men globally, and he was a presidential candidate in the 2020 US elections. Bloomberg has shown support toward cryptocurrencies and blockchain technology. However, like other high-ranking politicians, he expressed security concerns over ICOs (Initial Coin Offerings).

He commented that cryptocurrencies are a billion-dollar enterprise in the current economy. Therefore, his campaign rallied around financial policies and reforms that included cryptocurrencies. In addition, he offered a way to protect crypto users from fraud related to the cryptocurrency trade.

Michael Novogratz

The CEO of a crypto merchant bank, Galaxy Digital Holdings, is a relentless Bitcoin supporter. He is famous for making Market Cap predictions for crypto coins. Also, Novogratz believes Bitcoin is crypto gold and its value supports the crypto ecosystem. Michael has invested about 30% of his wealth in cryptocurrencies. Even in bear markets, Michael is optimistic that the market will be profitable in the long run.

The Winklevoss Twins

In 2017, Tyler and Cameron Winklevoss became the first Bitcoin Billionaires. They later developed Gemini, a crypto exchange platform. The Winklevoss Twins currently own 1% of the total Bitcoin in circulation. After a recent analysis by Forbes, the twins now rank among the world’s billionaires. Their support for cryptocurrencies and the DeFi ecosystem remains unwavering.

Other notable billionaires such as Eric Schmidt, the CEO of Google, have embraced bitcoin. The software engineer sees Bitcoin as an essential ally in transforming modern-day finance. Again, Abigail Johnson, the CEO of Fidelity, joined the crypto trade movement in 2018, investing in Bitcoin and Ethereum.

Celebrities

Celebrities have legions of adoring fans. They, therefore, exert significant influence over their fan bases. Some have taken upon themselves the role of brand ambassadors for cryptocurrencies. Their adoption of cryptos encourages their followers to do so too. A-list celebrities such as Pitbull, Paris Hilton, Snoop Dog, Lionel Messi, and Johnny Depp, among others, have deep involvement with cryptocurrencies.

The Bottom Line

From the onset, digital assets have remained disruptive. Blockchain technology and cryptos have transformed several industries, including banks and healthcare. Additionally, it helped evolve law enforcement, hedge funds, travel industries, and real estate. The support or lack of it for cryptocurrencies varies. It comes from personal experiences in trading crypto coins.

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Today the crypto industry affords you many possibilities and revenue ventures. They continue to gain acceptance despite their volatility. Additionally, they’ve proven susceptible to the influence of High-Net-Worth Individuals (HNWI). Their backing or opposition for a particular coin affects its value. These HNWIs will continue playing a pivotal role in determining crypto values going into the future.

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