The world’s flagship crypto asset has printed wealth at record levels not seen in recent years.
This is coming on the backdrop that investors are flocking into Bitcoin on the account credible institutional investors from Tesla Inc, BlackRock to Square move a portion of cash reserves into cryptocurrencies as digital assets become more mainstream.
At the time of writing this report, the world’s most popular crypto had minted 4 billionaires worth at least $3 billion each;
Mike Novogratz – $4.2 billion, Cameron Winklevoss – $3.3 billion,Tyler Winklevoss – $3.3 billion, Michael Saylor – $3.0 billion
Micheal Saylor leader of the world’s leading business intelligence company, MicroStrategy, shrugs off concern about Bitcoin’s high price swings and recently stated that critics are behind the curve. He said he’s also put his funds into the digital asset, amassing a personal holding worth more than $1 billion.
“People still aren’t sure: Are we crazy or are we not crazy?” Saylor said. “The only way to get economic security is to invest in scarce assets that are not going to be debased by the currency expansion. That is the environment that led us to decide we should consider Bitcoin as a treasury reserve asset.”
Still, this is not coming as a surprise to many crypto pundits on the account that many of these billionaires held their position for a long period as Bitcoin broke the $58,000 price levels recently triggering big-time investors to pile more funds into the world’s most attractive financial asset.
The flagship crypto has gained more than fourteen times its previous value sighted about a year ago when it traded around $3,800.
Global investors and crypto experts anticipate that Bitcoin’s trajectory remains optimistic. There is no doubt, 2021 continues to shape up as a very exciting year for Bitcoin.
The flagship crypto has gotten more credibility in recent days from blue-chip companies like Mastercard, and America’s oldest bank, BNY Mellon, showing support for Bitcoin. Mastercard had earlier disclosed that it would open up its network to some cryptocurrencies, including Bitcoin.
PayPal and the world’s largest asset fund manager, BlackRock, have also made big moves to support crypto.
Consequently, Bitcoin buyers right now are extremely strong HODLers, meaning that Bitcoin seems to be in its first great consolidation of the 2021 bull market. However, crypto experts anticipate that Bitcoin is still in a bull cycle amid prevailing price correction in play.
However, it’s fair to note the number of addresses with a Bitcoin balance ≥ of 1,000 has plunged to the level it was on when the price was at $33 000. The possible reasons for this trend include:
- Splitting of larger addresses as required by some custody protocols
- Some addresses getting below the 1k threshold
- Whales selling
Taking into consideration, Bitcoin Number of Addresses Holding 10+ Coins just reached a 2-year low of 148,448 Previous 2-year low of 148,467 was observed on 11 March 2021.
Previous 2-year low of 148,467 was observed on 11 March 2021
— glassnode alerts (@glassnodealerts) March 13, 2021
Elon Musk loses an estimated $6bn after a Tesla car accident killed two people
Elon Musk’s net worth dipped by $6 billion following a tragic Tesla car accident that killed two people.
The second richest man in the world, Elon Musk, witnessed his wealth shed an estimated $6bn after a Tesla car was involved in an accident that led to the death of two people.
Tesla stocks dropped by 3.8% after the news of the crash went mainstream. The resultant effect on Elon Musk’s wealth was a $5.71bn loss in a single day.
Two men lost their lives on Saturday night in Houston when their 2019 Tesla model car slammed into a tree. Police authorities on sight claimed the car might have been on autopilot due to the sitting position of the corpses.
They also struggled to put out the fire from the Tesla car and even called Tesla for help. The death of the two men has sparked a heated argument between Tesla and its critics. Autopilot or not?
Although police officers’ assertion that the car may have been on autopilot remains unconfirmed, it has raised serious uncertainty about the safety of Tesla’s autopilot feature and Tesla’s critics are not backing down on this.
Elon Musk reacts
Elon Musk has reacted to the news, insisting that the autopilot feature in the crashed vehicle was not enabled. According to him, the Wall Street Journal’s coverage of the accident was not professional.
What you should know
Elon Musk is now worth $183bn following the recent drop. He closed the gap on Amazon’s Jeff Bezos to $4bn early last week. The gap has widened to $14bn today.
TikTok’s 38 year-old founder is worth $35.5 billion – Here’s what we know
At 38 years old, Zhang Yiming is the 39th richest man in the world.
TikTok a video sharing app was named the most downloaded app of the first quarter of 2021 but not much is known about its founder. The app now has over 689 million active users worldwide according to statistics from oberlo.com. It has also been downloaded over 2 billion times on App Store and Google Playstore. It is arguably the most popular video-sharing app out there and the numbers keep growing.
TikTok was able to grow at a faster rate than Facebook and Instagram since its startup. The man behind this massive success is currently worth $35.5 billion and he is our person of interest today.
Meet Zhang Yiming, the founder of Bytedance
38-year-old Zhang Yiming is the CEO and Founder of ByteDance, the parent company of TikTok. Zhang Yiming majored in microelectronics and software engineering at Nankai University. He worked for various tech startups including Microsoft before settling to start his own company.
The billionaire leads a very secretive lifestyle. He founded ByteDance back in 2012 and steered it all the way to financial success. He is currently worth $35.5 billion but his net worth is well on its way to doubling based on recent valuations.
ByteDance has two main flagship products – Toutiao, an AI-backed news aggregator and TikTok which he founded later after the success of Toutiao.
Revisiting the success of TikTok
Last year Zhang Yiming’s ByteDance was regarded as the most valuable startup in the world. TikTok became the most downloaded iOS app worldwide in the first quarter of 2019, according to the US research app Sensor Tower.
TikTok is available in 155 countries and in 75 languages.
Bytedance’s first major valuation was in 2018 where it was valued at $75bn according to Forbes. This was followed by another valuation which put it at $140bn according to CB Insights.
The latest 2021 valuation places ByteDance at over $250bn according to the South China morning post.
Zhang Yiming owns a quarter of ByteDance and with this recent valuation, his net worth is set to grow to $60bn according to experts in the field.
Donald Trump scare
The former president of the United States was on the verge of banning TikTok in the country. He claimed the App has ties to the Chinese government. This would have been a setback giving that the application is quite popular among US millennials and Gen Z. Donald Trump lost his re-election bid and very little has been said by the Biden administration on the issue.
What you should know
- At 38 years old, Zhang Yiming is the 39th richest man in the world. His parents were civil servants.
- The popularity of TikTok in the United States has raised concerns from US regulators.
Nairametrics | Company Earnings
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