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Bitcoins / Breaking News

Richest Bitcoin Billionaires In China

A recent article published by Forbes shows a list of billionaires in the US which showed Bill Gates of Microsoft in the number 2 spot and Jeff Beroz of Amazon taking the number spotlight on the list.

But the list contains people who have a net worth close to $3 billion which made Chris Larsen take the 383rd position with the previous 17 being worth an estimated $2.1 billion including the likes of Jeffrey Lurie, Getty Oils Gordon Getty and so on.

The rise in cryptocurrency is evidently making people very rich. Historically wealth existed only in the value of your company or brand, now though, thanks to cryptocurrency, regular people are joining the rich list too.

Irrespective of this downward trend in the market, some individuals had still maintained most parts of their money from the crypto market from several nations including ‘the Nigerian Twins’ worth £1 billion after the Populous token in the UK.

In China, a similar report was released among Chinese businessmen that shows 13 billionaires in China thanks to digital currency. Despite the government in China cracking down on the digital currency and ICO activities this year, this is a big feat.

The Hurun report, as it’s called, contains a list of people with at least a $289 million (or 2 billion yuan) net worth. The Bitmain founder – Micree Zhan Ketuan – is, unsurprisingly, on the list as he invested a lot in the production of ASIC miners for several different cryptocurrencies irrespective of the opposition from some developers making the list among the top 100 Chinese billionaires. Ketuan is worth just under 30 billion Yuan since the Bitmain revenue is just pushing 10 billion USD. The co-founder of Bitmain, Jihan Wu made it to be the 204th richest man in China with a net worth of 16.5 billion Yuan.

According to ZyCrytpo, before the government in China stood up to fight cryptocurrency activities such as crypto mining and ICOs, Bitcoin mining had surged in the country with Bitmain owning the biggest Bitcoin miners around the globe. Some of the biggest competitors to Bitmain, Canada Creative and Ebang International Holding were also able to join Bitmain to come out with nine of the 13 billionaires on the list.

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Robert is a keen investor with a particular interest in cryptocurrencies. He has been involved in the industry for many years, and because of this, has gathered a lot of knowledge surrounding this area. He studied English at university level and has a passion for writing. He loves being able to combine his two mains interests on a daily basis.