Tycoons Earning From Cryptocurrencies And Driving The Market

For several years now, a new form of money has come into play that cannot be touched or printed since it only exists in the virtual world.

However, this new type of digital money, known as cryptocurrency, has gained enormous value in recent years and has attracted a lot of attention due to how we can acquire it.

On the other hand, common money has value and security thanks to the banks that issue its legal tender coins, increasing their value according to their demand. As a result, transactions made with them are secure.

Thanks to a decentralized network, cryptocurrencies operate that extend overall user computers, reducing the risk of fraud and providing transparency.

Since the creation of Bitcoin, the world of cryptocurrencies has been very dramatic. First, the formidable price increases, followed by mighty falls. However, many people have managed to achieve extraordinary profits by trading on one of the trusted cryptocurrency exchange platforms, the Bitcoin System.

Read also: The Digital Yuan Will Hurt the Dollar

Notable entrepreneurs who decided to invest in Bitcoin

Without a doubt, they were born to shine, and they cannot be left behind; their ambitions to see their fortunes grow where digital currencies lead them to a new type of investment that could compete with gold, as well as finding a virtual place to store money outside the control of companies and governments.

• We go back to 2017, with the influx of investors in Asia, especially Japan and South Korea, which propelled the Japanese firm bitFlyer to become the largest bitcoin trader in the world.

• Genesis Mining is one of the oldest companies in the mining world. It was created in 2013; since then, several mining farms have been dedicated to construction, with hundreds of related equipment that mine different cryptocurrencies, mainly bitcoin.

It is the oldest mining company in the world. Genesis offers cryptocurrencies to mine, including Bitcoin ( BTC ), Dash ( DASH ), Ethereum ( ETH ), Litecoin ( LTC ), Dogecoin (DOGE), Monero ( XMR ), Monero Classic ( XMC ), ZCash ( ZEC ), Bitcoin Cash ( BCH ), Bitcoin Gold ( BTG ).

• Aker oil corporation creates Settee to invest in bitcoin; Settee will undertake some 49 million euros of capital. This powerful Aker oil corporation led by Norwegian billionaire Rokke, who has diversified into green technology and renewable energy companies, is instituting a new business, Settee, to harness the potential of bitcoin.

• Bill Gates, the billionaire, and co-founder of the Microsoft company was hooked on Bitcoin from the beginning, commenting that it is a superior technology to any other currency.

However, he had already shown his enthusiasm for Bitcoin in 2014. He has since retracted his comments, noting that the anonymity of digital currencies is not suitable for transactions.

• Michael Novogratz, a famous investor currently in focus as the CEO of Galaxy Digital Holdings. This billionaire started his business in 2015 by quickly investing in Bitcoin.

• Elon Musk, entrepreneur, inventor, and co-founder of PayPal and Tesla Motors. Quite a character, he reported that he owned Bitcoin in 2019; declared that this currency is better than paper money as a medium of exchange.

• Mark Zuckerberg has remained positive, especially on Blockchain technology, saying: The technology that powers Bitcoin could help make Facebook better in the future.

There is no doubt that this list can go on; it is extensive; There are many who ventured into the world of Bitcoin, and others who fell in love with Bitcoin we can name: Jack Dorsey, The Winklevoss twins, Erik Finman, Daniel Colosi, Mark Cuban.

Another factor we must recognize is the States' intervention in acquiring the most controversial currency of the moment, bitcoin.

These characters ventured into the world of cryptocurrencies thanks to the market capitalization that Bitcoin has obtained.

Conclusions

Thanks to the technological advances of networks, Bitcoin undoubtedly continues to arouse people's interest to adopt it, from students to investors. Is it time to invest in Bitcoin?

For all these successful businessmen, allocating a small portion of their capital to crypto investment is one more option to diversify their investments. Moreover, once the capital is multiplied, it seems the easiest way for them to produce money.

On many occasions, novice investors tend to lose focus when investing in cryptocurrencies; everything is related to the right opportunities and decisions at the time of investing; if the capital is risked and is lost, what happens is emotional exhaustion that later does not allow obtaining the desired positive results.