As the price of digital assets falls, the wealth of investors and entrepreneurs of the richest BitCoin , XRP, Ethereum and other crypto currencies also went into decline. The worst of cryptocurrencies may not be over yet. Names on Forbes’ 10 richest crypto investors list have lost a total of $26.9 billion since November 10, 2021, when BitCoin and the total crypto money market peaked. Three of these 10 billionaires have lost almost half of their fortunes in November. lost.You can find everything about BTC BitCoin here. BTC BitCoin comments and analytics are very important to all of us. You want to reach the right analysis and comments. We offer you understandable analysis away from the complexity of BTC BitCoin forum sites. Our BTC BitCoin chart work and comments will be located here. Regardless of the BTC BitCoin price , what matters is where you buy and where you sell.
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This is a surprising loss even for the crypto money industry, which is known for its volatility. BitCoin , the world’s largest cryptocurrency by market cap, saw a 50% drop after hitting an all-time high of $68k on Nov. Other cryptocurrencies were also included in the decline. The second largest cryptocurrency, Ethereum, has also dropped 50% since November. However, the shares of companies associated with cryptocurrencies also fell.
Shares of cryptocurrency exchange Coin base have dropped 42% since BitCoin hit an all-time high.As a result, the two billionaire founders of Coin base, CEO Brian Armstrong and Board Member Fred Ehrsam, lost a combined $7 billion in fortunes. Shares of software company MicroStrategy, which has more than $3 billion in BitCoin investments on its balance sheet, have also dropped 55% since November 10.
On the other hand, the decrease in the Nasdaq index, which is dominated by technology stocks, was limited to 15% in the same period. BitCoin investor and MicroStrategy CEO Michael Saylor’s wealth also fell 55%. Despite this, there were some digital assets that performed well. According to the information compiled by Finansgundem.com, the total value of all cryptocurrencies on November 10 was approximately 3 trillion dollars. That figure dropped to 1.7 trillion on January 24, down 43% in less than three months.
Unfortunately for crypto investors, the worst period may not be over yet. Many analysts believe that the sector is about to enter a bear market, driven by tightening central banks’ monetary policies and rising bond yields. While low-risk investment options are on the rise, investors’ appetite for cryptocurrencies and speculative investments is waning.
The value of Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, rose to over $7 billion in late November, just before the drop in BitCoin . This allowed the twin brothers to retain some wealth. Other billionaires remain optimistic. Billionaire investor Tim Draper, who bought 30 thousand BitCoin s for $ 18.7 million in 2014, said in a statement last week that BitCoin could reach $250,000 with an increase of 600% this year.
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Draper said, “As interest rate rise concerns cause markets to decline, some of the marginal cryptocurrencies will disappear and investors will turn to BitCoin and other major cryptocurrencies.” Of course, Draper has reason to be hopeful about the future of BitCoin . Because he owns quite a lot of BitCoin .
His fortune on November 11
Wealth on January 24
Founder of FTX
CEO of Coin base
Cameron and Tyler Winklevoss
Coin base Founder
CEO of MicroStrategy
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