Are billionaires buying Ethereum?
Lately, Ethereum (ETH 3.51%) has been attracting its own share of billionaire supporters. And don't forget about
Billionaire hedge fund managers are also looking for ways to get exposure to Bitcoin. Unlike most retail investors, they are not just investing in Bitcoin for its upside potential. Primarily, they view it as a hedge against inflation and economic uncertainty.
Among all individual holders, Ethereum pre-sale investor Rain Lohmus owns the most ETH, with 250K ETH (>$660M) held in a wallet that is inaccessible to him. Ethereum Cofounder Vitalik Buterin is the next largest individual holder with 245K ETH ($650M) - he still has access to his holdings.
Yes, it is possible for someone to become a millionaire through cryptocurrency trading. There have been numerous examples of individuals who have achieved substantial wealth through their cryptocurrency investments.
Ether is a native coin of the Ethereum platform and can be purchased by investors who want exposure to an Ethereum portfolio. While Bitcoin can be considered digital gold, Ethereum is building a global computing platform that supports many other cryptocurrencies and a large ecosystem of decentralized applications.
Injective, ranked 27th in terms of market cap, is linked to the Injective decentralized crypto exchange. In 2021, Cuban made "a strategic investment into Injective," according to a TechCrunch report. The injective price has surged 1,100% over the last year.
Ethereum is one of the most popular cryptos that will make you rich and remains the second-largest project by valuation. This project was the original pioneer of smart contracts, which enables more than just financial transactions to occur on the blockchain.
Vitalik Buterin - Ethereum | LinkedIn.
If ethereum breaks out above $4,000 in 2024, the next key level will be surpassing the all-time high of $4,891. Industry price targets for ethereum in 2024 range between $2,600 and $20,000. But crypto markets are unpredictable and volatile.
Beacon Chain
The Beacon Chain holds the most Ethereum out of any single address by a considerable amount, with around 22 million tokens locked valued at approximately $39 billion, accounting for just over 18% of the total supply.
What if you invested $1,000 in Ethereum?
If you were smart enough to invest $1,000 in Ethereum five years ago in early 2019, you'd be sitting on a balance of $21,500 today. That translates to a ridiculously large gain of over 2,000%, which crushes the broader Nasdaq Composite index.
While some reports speculate that Ethereum could reach $50,000 by 2030, VanEck's base case of $11,000 remains their most recent and steady estimate.
While the potential for Ethereum to reach $100,000 exists, it is likely many years out, at least 7 years (if not more). With a $13.7 trillion market cap of Ethereum, if and when it hits $100k, massive changes need to occur, first and foremost fundamental, technological, regulatory.
Year | Minimum Price | Average Price |
---|---|---|
2029 | $31,101.89 | $32,018.80 |
2030 | $44,914.51 | $46,514.35 |
2031 | $63,784.62 | $65,643.44 |
2032 | $88,468.15 | $91,750.82 |
To have a million dollars worth of Ethereum at $3000, you would need around 333.33 ETH tokens. The cost of 333.33 ETH at current prices is about $747,333. However, if ETH reaches its all-time high of $4878.26, the same investment would be worth around $1,626,000 ($1.62 million).
By the year 2025, Ethereum is expected to reach the maximum level of $6,500 with a minimum of $ 4,500 and an average of $5,500. And by the year 2030, it is expected that it may go up to a maximum of $20,500. The current year will witness the Dencun upgrade, which is anticipated to positively boost the value of ETH.
As it became known relatively recently, Elon Musk portfolio crypto still contains Bitcoins and Dogecoins.
That's why, over the years, Cuban held onto the few digital coins he bought in the “early days,” Cuban said on a recent episode of “The Delphi Podcast.” Currently, his portfolio allocation is broken down as: “60% bitcoin, 30% Ethereum and 10% the rest.”
Cuban's portfolio is fairly conservative for an experienced cryptocurrency investor: "BTC/ETC/MATIC/INJ but this is not a recommendation. Just a response." Surprisingly enough, Dogecoin does not feature in his portfolio. "Thoughts on on-chain finance in 2024?"
CME Group Inc. (NASDAQ:CME), Canaan Inc. (NASDAQ:CAN), NVIDIA Corporation (NASDAQ:NVDA), and Interactive Brokers Group, Inc. (NASDAQ:IBKR) are some hot crypto stocks being bought by billionaires.
Which coin will make me a millionaire?
BNB (BNB-USD) is among the top cryptocurrencies in terms of market capitalization. Further, Binance is the largest crypto exchange in the world as measured by trading volumes. A key utility of BNB is to pay fees while trading on Binance. The fees can be paid at a discounted rate using the BNB coin.
- Solana (SOL): The High-Speed Blockchain. ...
- Cardano (ADA): The Research-Driven Platform. ...
- Option2Trade (O2T): The Newcomer with 1000x Potential. ...
- The Market Dynamics of Solana (SOL), Cardano (ADA), and Option2Trade (O2T)
Ethereum is a decentralized blockchain, meaning no single entity controls it. Users participate through a network of computers, ensuring security and data ownership but potentially leading to slower transaction speeds.
Coinbase is the most trusted place for people and businesses to buy, sell, and manage Ethereum. It's quick and easy.
After graduation, Buterin enrolled into the University of Waterloo which he eventually dropped out after a year of computer science and landed the Thiel Fellowship. He used his time to co-found and work on several startups in cryptocurrency and digital finance. He's also well-known for having an IQ level of 257.
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