Crypto Billionaires See Fortunes Soar as Bitcoin Hits $90,000, Total Market Cap Exceeds $3.2 Trillion

Crypto billionaires are seeing their fortunes rise dramatically. This week, Bitcoin surpassed $90,000 for the first time. As a result, the total value of all digital assets has climbed past $3.2 trillion.

According to Forbes, 11 top crypto billionaires have added a whopping $38 billion to their wealth in 2024. Interestingly, $24 billion of that increase happened after September 1. This surge coincided with growing optimism about Donald Trump's chances in the presidential election on November 5.

One standout is Michael Saylor, the CEO of MicroStrategy. His company's stock, which holds the largest corporate stash of Bitcoin worth $25.6 billion, has skyrocketed by 464% this year. In comparison, Bitcoin itself is up 110%. Saylor's net worth, mostly tied to Bitcoin and his stake in MicroStrategy, has jumped by 291%, reaching $8.8 billion.

Another notable gain comes from Mike Novogratz, the CEO of Galaxy Digital. His company's stock has surged 150% this year, boosting his net worth from $3.2 billion to $5.9 billion—an impressive 123% increase.

Brian Armstrong, the CEO of Coinbase, has also enjoyed significant growth. His net worth jumped 80%, going from $7.6 billion at the start of the year to $13.8 billion. Most of this increase occurred in the last two months, thanks to a 74% rise in Coinbase's stock, adding $5.7 billion to his wealth.

On the other hand, Changpeng Zhao, the former CEO of Binance, has seen the largest dollar gain. His wealth rose from $47.3 billion to $63.1 billion. This increase comes from a $33 billion stake in Binance and a stockpile of 94 million BNB tokens. However, Zhao's percentage increase is only 33%, as BNB has risen just 89% this year.

Interestingly, two crypto billionaires did not see any increase in their wealth. Chris Larsen and Jed McCaleb, co-founders of Ripple, have remained steady. Larsen's net worth, half of which is in XRP tokens, is around $3.3 billion. McCaleb, who owns 1 billion Stellar (XLM) tokens, is also stable at $2.9 billion. XRP has increased by less than 1% this year, while XLM has dropped by 11%.

Forbes previously labeled XRP Ledger and Stellar as significant crypto projects with billion-dollar valuations but limited utility. They mostly serve as vehicles for trading and speculation.