A decentralized digital currency developed by the mysterious figure Satoshi Nakamoto in 2009, Bitcoin has become an increasingly prevalent currency over the past 12 years. It had a market cap of more than $1 trillion as of October 27, 2021, at which point an individual Bitcoin token was worth more than $59,000. It was also an accepted form of currency at 36 percent of small-medium companies in the United States as well as at major corporations like Microsoft and AT&T.
- 1. Elon Musk
Tesla founder Elon Musk wasn’t always a proponent of cryptocurrency, but he began showing support for Bitcoin and Dogecoin, among others, in 2021. He was particularly vocal about Bitcoin on Twitter and spoke about Dogecoin while hosting Saturday Night Live in May.
In February 2021, Musk authorized Tesla’s purchase of $1.5 billion worth of Bitcoin and announced the company would accept the currency as a form of payment for its electric vehicles. Musk discontinued this in May, but he announced the company would again accept Bitcoin once its miners employ more environmentally friendly practices to power their operations.
- 2. Paul Tudor Jones
“I like the idea of investing in something . . . reliable, consistent, honest, and 100 percent certain,” Paul Tudor Jones once said during an interview with CNBC. “Bitcoin has appealed to me because it’s a way for me to invest in certainty.”
Jones, a financial guru and founder of Tudor Investment Company, is best known for correctly predicting the Black Monday stock market crash in 1987. He capitalized on the crash and has since become a billionaire investor. His personal investment portfolio has a single-digit percentage allocation of Bitcoin and other cryptocurrencies. He is also bullish on the idea of Bitcoin as a more effective inflation hedge than gold.
- 3. Dan Morehead
Dan Morehead’s Pantera Capital was the first investment firm to prioritize Bitcoin and is now among the most prominent institutional holders of cryptocurrency. Morehead launched the firm’s cryptocurrency fund when Bitcoin was trading at $65. The fund registered a return of 24,000 percent for investors in December 2017.
- 4. The Winklevoss Twins
Believed to be the first Bitcoin billionaires, Cameron and Tyler Winklevoss, better known for their involvement in a Facebook lawsuit against Mark Zuckerberg, held around 100,000 coins as of June 2020. Those coins were worth $5.9 billion as of October 27, 2021. The twins invested $11 million in Bitcoin in 2013 and have since heavily invested in Ethereum. In 2015, they launched the Gemini exchange, which allows investors to trade and store digital assets.