Top Bitcoin millionaires: Digital gold rush success stories

The launch of the Bitcoin (BTC) network in 2009 marked the official beginning of a new asset class: cryptocurrencies. Once dismissed as a fringe tool for criminals, digital assets have since evolved into a global financial phenomenon. 

Over time, Bitcoin’s price has surged from under a penny to nearly $120,000 (as of July 2025), creating a new class of financial elite now known as the Bitcoin millionaires. 

In this guide, we’ll explore who owns the most Bitcoin, spotlighting notable figures within the crypto elite and the unofficial Bitcoin billionaires list. 

The birth of Bitcoin wealth

Following the 2008 Great Financial Crisis, the pseudonymous developer Satoshi Nakamoto unveiled the Bitcoin network to the world. To make the mission clear, the unknown creator embedded a message in the first block – known as the Genesis Block – that read, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” The message referenced the headline of a London Times article published that same day.

Nakamoto’s words are widely interpreted as a critique of the traditional financial system – a system that Bitcoin was designed to challenge.

Since then, Bitcoin has gone on to validate Nakamoto’s point. For example, take Bitcoin Pizza Day: On May 22, 2010, programmer Laszlo Hanyecz exchanged 10,000 BTC for two pizzas worth just $41. Just 10 years later, those two pizzas would be valued at more than $1.1 billion, making them the most expensive in history.

Thanks to its wealth-preserving potential, Bitcoin has fueled the rise of strategic reserves held by governments and corporations. Leading the charge is MicroStrategy Chair Michael Saylor, whose high-profile crypto holdings helped popularize the idea of adding Bitcoin to corporate balance sheets. Combined with record-breaking inflows into spot BTC exchange-traded funds (ETFs), it’s clear that institutional demand for crypto assets is strong – and only getting stronger.

4 Bitcoin millionaires

As of July 2025, Nakamoto holds the title of the highest Bitcoin holder, with an estimated 1.1 million BTC. Aside from Nakamoto, several prominent figures have amassed sizable Bitcoin stacks, vaulting them into the elite ranks of crypto millionaires and billionaires.  

Brian Armstrong

Brian Armstrong is the co-founder and CEO of Coinbase, North America’s largest cryptocurrency exchange. A former Airbnb software engineer, Armstrong launched Coinbase in 2012 to capitalize on early Bitcoin momentum and give retail investors a simple way to buy BTC. Along with his Bitcoin stash, Armstrong owns a 19% stake in Coinbase, giving him an estimated net worth of $14.9 billion. 

Giancarlo Devasini

Giancarlo Devasini is a former plastic surgeon turned tech entrepreneur who’s now serving as CFO of both Tether and Bitfinex. After joining Bitfinex in 2012, he helped launch and grow Tether, now the largest stablecoin by market capitalization. With a 47% stake in Tether, Forbes estimates Devasini’s net worth at over $22.4 billion, placing him among the world’s 100 wealthiest people.  

Chris Larsen

Aside from Bitcoin, one of the most well-known and recognizable names in crypto is XRP issuer Ripple, a major player in the cross-border payments industry. Chris Larsen, a co-founder of Ripple, is closely associated with XRP, but analysts suspect he’s also a significant holder of Bitcoin. Larsen owns an 18% stake in Ripple, which, along with over 2.8 billion XRP tokens and nearly $1 billion in cash and investments, contributes to his estimated net worth of $8.3 billion. 

Paolo Ardoino

Another longtime figure in crypto is Paolo Ardoino, who became CEO of Tether in 2023 after starting as a senior software developer at Bitfinex in 2014. Ardoino played an instrumental role in expanding Tether’s stablecoin offerings and strengthening its blockchain infrastructure. With a 20% stake in the company and a personal stash of crypto assets, his estimated net worth is $9.5 billion. 

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Who became a Bitcoin millionaire?

While the names listed above are standouts in the crypto ecosystem for their role in bringing blockchain technology to the masses, the list of Bitcoin millionaires is far more extensive, spanning individuals from all walks of life. 

According to the 2024 Crypto Wealth Report by Henley & Partners, there are approximately 172,300 crypto millionaires worldwide, with 85,400 holding over $1 million in Bitcoin alone. Here are some of the common groups behind those numbers: 

Early adopters and miners

As pioneers who discovered Bitcoin in its infancy, this group reaped some of the biggest rewards. While Bitcoin mining is now a multibillion-dollar industry that requires specialized hardware, early miners could generate coins using basic computers. Thanks to low competition and Bitcoin’s negligible starting price, many secured massive holdings that have grown into life-changing wealth. 

Long-term “HODLers”

Crypto has its unique jargon, and HODL, short for “hold on for dear life,” is one of the most iconic terms. These long-term investors bought Bitcoin early and held tight through cycles of extreme volatility. While many early buyers sold during downturns, the true HODLers stayed the course – and their patience paid off. 

Crypto entrepreneurs

Founders like Armstrong, Devasini, and Ardoino became crypto millionaires (and, in some cases, billionaires) by building the infrastructure behind exchanges, stablecoins, and blockchain platforms. The cryptocurrency ecosystem still relies on visionary entrepreneurs to push boundaries, drive adoption, and create new sources of wealth. 

Opportunistic traders

Few markets are as volatile as cryptocurrency, and for some traders, that’s exactly the appeal. Opportunistic investors with a high tolerance for risk have made fortunes by timing Bitcoin’s dramatic swings – buying during 70% dips, selling during 100% rallies, and strategically increasing their holdings through aggressive market moves.

The challenges of being a Bitcoin millionaire

Being a Bitcoin millionaire brings immense wealth, but it also comes with unique challenges that require careful planning, discretion, and risk management.

Market volatility

With Bitcoin’s notoriously volatile price, millionaires can become billionaires overnight – or lose a fortune just as quickly. Navigating the constant rise and fall takes more than financial savvy – it demands a strong emotional grip and a high tolerance for risk. 

Security and custody risks

Holding large amounts of BTC comes with real security concerns, including hacks, ransomware attacks, and even physical threats like kidnappings. As Bitcoin’s value rises, so does its appeal to criminals. For high-net-worth holders, maintaining a low profile and practicing extreme custody discipline are often as important as portfolio management itself.

Regulatory uncertainty

Despite growing institutional interest, regulatory uncertainty continues to cloud the future of digital assets. Crypto millionaires must stay current with shifting laws and reporting requirements, as regulations can affect how – and even if – they can legally transfer or liquidate Bitcoin holdings in certain jurisdictions.

Liquidity challenges

While Bitcoin is generally liquid on major crypto exchanges, cashing out large amounts can be tricky. High-dollar BTC sales can move markets, reducing the price mid-transaction and shrinking the value of remaining assets. Limited liquidity on smaller platforms can also pose problems, requiring crypto whales to stagger their sales or use OTC desks to avoid disrupting the market. 

Stay on top of your crypto portfolio with CoinTracker

Few investing stories in the 21st century are as compelling as Bitcoin and the rise of crypto, a digital gold rush that minted a new class of millionaires and billionaires. Those who were early – or bold – enough to dive in have seen windfall gains, now sitting among the ranks of the crypto wealthy.

As the cryptocurrency market matures, these stories continue to inspire a new generation of developers and entrepreneurs, a reminder of how quickly crypto assets can reshape the meaning of wealth in the digital age. 

Whether you’re a seasoned Bitcoin whale or just stacking your first few stats, managing your crypto portfolio shouldn’t be complicated. CoinTracker lets you track all your assets across multiple exchanges and wallets, all in one place. 

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Disclaimer: This post is informational only and is not intended as tax advice. For tax advice, please consult a tax professional.