The CEO of leading cryptocurrency exchange Binance has made a revelation that turned heads in the cryptocurrency ecosystem. CZ left Crypto–Twitter in shock when he revealed that his billion-dollar fortune is almost entirely made up of cryptocurrencies.
Despite market volatility, the CEO is not fazed by the ups and downs of the crypto-space. He reveals that almost all of his net worth, which according to Forbes is an estimated $1.9 billion as of 2021, is in cryptocurrency.
“I would say probably close to 100%. I don’t own any fiat, the physical stuff that I own is probably negligible in terms of my net worth. So this is a concept shit.” He said, in an interview with Bloomberg.
CZ doesn’t fall into the pool of long-term holders who intend to sell their crypto-holdings for-profit and buy more cryptocurrency to continue the profit-making cycle. He reveals that he is not in the business of converting to fiat or buying properties, but that he is only interested in holding cryptocurrencies.
A key point to take away from CZ’s big reveal is that a large part of his wealth, at least over 95% as speculated by analysts’ was made as profit from his crypto-ventures and investments. This makes CZ one of the few cryptocurrency billionaires in the market.
Joining the Crypto Billionaire league are 8 new members, according to Forbes recently published 35th Annual list of world Billionaires. Founder of FTX, Sam Bankman-Fried tops the list as the richest crypto Billionaire with a net worth of $8.7 billion.
The second position was snatched by Brian Armstrong, the CEO of Coinbase. With his recent Coinbase Q1 reveal, it comes as no surprise that Armstrong is a beneficiary of Bitcoin’s meteoric price rally from last year. He’s now worth $6.5 billion.
Despite Ripple’s legal woes, Chris Larsen, the co-founder of Ripple, manages to hold the 3rd position, with an impressive net worth of $3.4 billion. The Winklevoss Twins are not left out as they each sit on a $3 billion fortune. Micheal Saylor’s Bitcoin bet seems to have already paid off as he garnered a whopping $2.3 billion in net worth value.
Venture capitalist Tim Draper and long-time crypto investor Mattew Roszak are rewarded for their early arrival into the market with $1.5 billion each. Barry Silbert, Fred Ehrsam, and Jed McCaleb are also included in the list.