The world has been experiencing new realities since Bitcoin, and other cryptocurrencies emerged. New phrases like ‘Bitcoin millionaires,’ ‘Bitcoin billionaires,’ and ‘crypto kings’ have appeared. Some people have become massively wealthy because of investing in cryptocurrency. For example, immediateconnect.org provides a level playing field to anyone to trade Bitcoin and reap high returns that would push them closer to the crypto king status.
A crypto king is a person who has become highly wealthy almost entirely through cryptocurrencies. Most of the crypto kings come from ordinary lifestyles to that of millionaires or billionaires within a short period. Most of them become celebrities and are not shy from media coverage and showcasing their newly acquired statuses.
Bitcoin is the dominant cryptocurrency by far. Most of the crypto kings can attribute their rise primarily to Bitcoin. What is impressive is that anyone can become a crypto king. It only requires strategy and fate.
This article focuses on five individuals to help you understand how Bitcoin has turned ordinary people into crypto kings.
Song Chi-Hyung is a South Korean billionaire whose wealth is mainly from crypto. Chi-Hyung founded Upbit in 2017. Upbit is the top crypto exchange in South Korea. Through Upbit, Chi-Hyung has amassed so much money (cryptocurrency) through the business’ profits. Since Bitcoin is the primary cryptocurrency that Upbit deals with, Chi-Hyung can attribute his new status to operating a successful crypto exchange.
Anyone familiar with crypto must know about Binance, the largest global crypto exchange. Changpeng Zhao, a Canadian with Chinese roots, is the brain behind this crypto exchange. Bitcoin has played a central role in Zhao’s rise to become a crypto king. From playing poker to selling his apartment for Bitcoin, Zhao started with Bitcoin quite early before founding Binance.
Sam Bankman-Fried founded FTX, the beleaguered crypto exchange that made him the ‘King of Crypto.’ This young man became massively wealthy within a few years because of his involvement in the crypto exchange business. Most of the over a million users on FTX bought and sold Bitcoin and, in turn, made Bankman-Fried a crypto king.
Brian Armstrong is the co-founder of Coinbase. Coinbase is among the largest crypto exchanges in the world. Armstrong is now among the billionaire class, partly due to deciding to try his luck in the crypto world. Before founding Coinbase, he worked at Airbnb. Like most other crypto lions, Armstrong has primarily benefitted from the high returns from Coinbase as people trade and exchange Bitcoin.
Michael Saylor is the CEO of MicroStrategy. Unlike all the other four crypto kings, Saylor’s rise to become a crypto king does not involve starting a crypto exchange. Instead, Saylor has been an ardent Bitcoin fan and investor since 2020. Through his software company, MicroStrategy, Saylor has increasingly invested in Bitcoin. Saylor’s net worth has grown to $1.6 billion within two years. Most of this is from his Bitcoin investments.
Common Characteristics of Crypto Kings
Crypto kings share specific characteristics that set them aside from other crypto users. The most obvious one is wealth. All crypto kings are billionaires. Most of their billions come from crypto, especially Bitcoin. Additionally, most of the crypto kings were initially ordinary people. Most were in other professions, such as engineering and technology.
However, the most notable characteristic of crypto kings is their involvement in the crypto industry. The majority of them have established crypto exchanges and other crypto-related businesses. For instance, four of the five crypto kings the article mentions above have founded crypto exchanges. They are also investors in the crypto market.
Many people have become massively wealthy because of their involvement in the crypto market. Bitcoin has pushed these people to become crypto kings by investing in crypto exchanges and the Bitcoin market.