In the last several years, we’ve witnessed a real “cryptocurrency fever.” For many people, personal finance and cryptocurrency investing go hand-in-hand today.
Wondering how to make money with cryptocurrency? Can a simple layman become a crypto millionaire? Stories of successful cryptoсurrency investors prove anyone can make a fortune, regardless of background.
Want some crypto success stories and inspiration? Then keep reading!
Table of Contents,
- 1 How Many Millionaires Has Crypto Enthusiasm Created?
- 2 Crypto Investing Success Stories
- 2.1 Glauber Contessoto, a Reddit Crypto Millionaire
- 2.2 Tim Draper, a Seasoned Venture Capitalist
- 2.3 Twins Cameron and Tyler Winklevoss, Crypto Billionaires
- 2.4 Erik Finman, a Teenage Crypto Millionaire
- 2.5 Cooper Turley, a Crypto Investor and Serial Entrepreneur
- 2.6 Barry Silbert, a Crypto Investor and Founder of Digital Currency Group
- 3 Wrapping Up
- 4 FAQ
How Many Millionaires Has Crypto Enthusiasm Created?
How many crypto millionaires are there in the world? Bitinfocharts says over 72,000 wallets hold more than $1 million in Bitcoin. It is worth emphasizing that the number of wallets is not equal to the total number of users. Often, one person registers several wallets for security purposes.
But a million dollars is far from the limit. Investing in Bitcoin and other cryptocurrencies has made certain people billionaires!
Crypto Investing Success Stories
Want to learn some lessons from successful crypto investors and their crypto investing success stories? Let’s look through the stories of those who become millionaires from cryptocurrency investments.
Glauber Contessoto, a Reddit Crypto Millionaire
A crypto trader and Reddit user, Glauber Contessoto became a millionaire after investing $250,000 in Dogecoin (DOGE).
Why did a 33-year-old Los Angeles resident choose DOGE? Was he a personal finance and cryptocurrency mastermind? First, he loved the idea of this token, initially created as a joke inspired by the Shiba Inu “Doge” meme.
Second, Glauber’s decision was influenced by Elon Musk’s repeatedly writing about the coin.
Third, Glauber liked the community around Dogecoin on Reddit. So, a self-taught crypto trader decided this coin would help him become rich. And yes, he is among the most successful cryptocurrency investors today.
In February 2022, Contessoto invested over $250,000 in Dogecoin. At that time, the token price was 4.5 cents per coin.
Glauber used all his savings to buy the desired amount of crypto and sold part of the stock owned. In addition, Contessoto borrowed money from Robinhood through its branded app.
In just about 2 months, DOGE’s price surged by 400%. Some experts attribute the spike in the token’s value to the fact that the Coinbase exchange went public on April 14. This event contributed to the price rise for Bitcoin, Ether, and other coins. Others attribute the price spike to Elon Musk’s tweets.
But, whatever the case, Glauber Contessoto’s investment in Dogecoin made him a millionaire.
Tim Draper, a Seasoned Venture Capitalist
Tim Draper is a member of one of Silicon Valley’s oldest investment dynasties. Back in 1985, he co-founded Draper Fisher Jurvetson. This venture capital firm has invested in dozens of start-ups — from the now-defunct Theranos to Tesla.
In 2014, Draper bought almost 30,000 bitcoins confiscated by US marshals from the illegal Silk Road black market. Drape’s investment in crypto-currency assets amounted to $18.7 million. As of today, the portfolio’s market value exceeds $1 billion.
Some of the crypto investing tips and advice shared by Tim Draper are:
- Having two or more payrolls worth of cash in BTC or other tokens
- Holding short-term cash for half a year split between two bank accounts — a local one and an international one
Twins Cameron and Tyler Winklevoss, Crypto Billionaires
The twins Tyler and Cameron are famous for suing Mark Zuckerberg for stealing the social network idea from them. When Winklevosses won $65 million in compensation from Zuckerberg, they invested it in BTC. Tyler and Cameron bought 1% of all coins issued at that time. Despite market fluctuations, the brothers did not sell their cryptocurrency assets.
The explosive growth of the cryptocurrency and NFT market also contributed to Gemini’s success. In 2014, Winklevosses founded the Gemini cryptocurrency exchange. In 2017, Bitcoin’s price skyrocketed to almost $20,000, making the twins crypto billionaires.
What crypto investment strategies did the Winklevoss twins follow? The brothers saw the potential for the price of BTC to rise. Winklevosses chose to invest funds for the long term, and their price trend predictions were true.
Although the twins have significantly enriched themselves through crypto investments, they didn’t rush to spend all the money earned. In 2018, only one of them owned a car!
Erik Finman, a Teenage Crypto Millionaire
Erik Finman is the youngest BTC investor in the world. When he was 12, his grandma gave him a few thousand dollars as a gift. Erik then invested this money in Bitcoin. At that time, one cryptocurrency unit cost about $12 per coin. With this investment, Finman became a millionaire at the age of 18.
Finman managed to achieve success without higher education or work experience. All his knowledge he acquired through reading books and watching videos on YouTube. At 21, Erik could buy a private residence and launch his own company.
What crypto investment strategy did Erik use? He bought BTC at an early stage when it was still cheap. Finman also invested in Ethereum and other altcoins. But, even more important, he held onto his assets despite numerous market fluctuations.
Cooper Turley, a Crypto Investor and Serial Entrepreneur
Cooper Turley is a serial entrepreneur and one of the most successful crypto investors. Cooper is famous as an investor and for businesses launched — from a software company to a real estate development firm. On top of that, Turley is an avid NFT collector.
In 2017, Cooper started investing in cryptocurrency assets. At first, Turley bought some BTC, but eventually, he also began to invest in other altcoins.
In 2019, Turley started a venture fund that invested in blockchain projects. The entrepreneur also created his own crypto-focused media company. All these investments allowed Turley to establish himself as one of the most successful crypto investors.
Barry Silbert, a Crypto Investor and Founder of Digital Currency Group
Barry Silbert is famous for being the founder and CEO of Digital Currency Group — one of the leading investment firms in crypto. Since 2015, the company has invested in more than 120 blockchain-related businesses.
Silbert utilized his experience as an investor to identify attractive investment opportunities in the crypto space. Barry made huge profits by investing early in some of the most successful projects.
The success of Digital Currency Group helped Silbert become one of the richest investors in crypto, with his company’s market value exceeding $1 billion. The entrepreneur also created a cryptocurrency index fund and an Ethereum-focused fund.
Wrapping Up
As you can see, building wealth with cryptocurrency is open to anyone. The cryptocurrency success stories show that it is possible to become rich by investing in crypto.
Some of the strategies employed by crypto millionaires are:
- Buying digital assets at an early stage
- Holding assets for the long term, despite market volatility
- Investing in promising projects
So, if you wonder how to make money with cryptocurrency, consider these lessons from successful crypto investors.
FAQ
According to Bitinfocharts, there are over 72,000 wallets holding more than $1 million in Bitcoin. However, this number doesn’t equal the total number of users since one person can register several wallets.
Glauber Contessoto, a self-taught crypto trader and Reddit user, became a Dogecoin millionaire after investing $250,000 in the coin in February 2022 when the price was 4.5 cents per coin. The price of DOGE surged by 400% in just two months, making him a millionaire.
Tim Draper, a seasoned venture capitalist, bought almost 30,000 bitcoins confiscated by US marshals from the illegal Silk Road black market in 2014 for $18.7 million. He advises having two or more payrolls worth of cash in BTC or other tokens and holding short-term cash for half a year split between two bank accounts – a local one and an international one.
Tyler and Cameron Winklevoss became crypto billionaires after investing $65 million they won in compensation from Mark Zuckerberg for stealing the social network idea from them into Bitcoin. They bought 1% of all coins issued at that time and founded the Gemini cryptocurrency exchange in 2014.
Erik Finman is a teenage crypto millionaire who became rich by investing $1,000 he received as a gift from his grandmother into Bitcoin in 2011 when he was just 12 years old. He later sold his bitcoins for $100,000 and started his own education startup.
