Why More Billionaires are Buying and Investing in Cryptocurrencies

Why More Billionaires are Buying and Investing in Cryptocurrencies

The huge growth of Bitcoin, Ethereum, Onecoin and other cryptocurrencies has many financial analysts and investors finally starting to pay closer attention. After a stellar start to 2017, it is simply no longer possible for financial experts to ignore the huge potential of this rapidly increasing market, which has led more and more billionaires to begin investing their own cash in cryptocurrencies.
Bit CoinAlthough it has experienced a few struggles and bumps since being unveiled in 2009, the value of Bitcoin has absolutely skyrocketed since the beginning of the year. At the start of 2017, one Bitcoin was worth just a shade under $1,000 USD, which was already more than double what the currency was worth on January 1, 2016 and also the first time the currency had flirted with the $1,000 mark since late 2013.

However, since the turn of the year Bitcoin has experienced exponential levels of growth, and as of writing, is already close to breaking the $20,000 barrier. Furthermore, most experts think it’s only a matter of time before the value soars up past $2,000 per coin. In fact, if the current rate continues it will likely only be a few weeks before its well past this point.

This isn’t a bad return considering that the first bitcoins were worth only $0.0007 in 2009, and it is this kind of return that has so many billionaires interested. Already we have seen billionaires like former Fortress Macro Fund CIO Mike Novogratz come out publicly about the huge benefits they’ve gained by investing in cryptocurrencies.

Novogratz is a huge fan of Bitcoin, but he has also made a significant investment in Ethereum. He made the investment back at a time when ethers were still worth $1 each, whereas the price now hovers around $1,290—making Ethereum the second biggest cryptocurrency. In total, Novogratz has divested approximately 10 percent of his total net worth into cryptocurrencies.

Tim Draper – Billionaire and Founder of Draper Associates

Another major proponent of cryptocurrencies is Tim Draper, billionaire founder of Draper Associates, one of the few venture capital firms to start investing in Bitcoin and other cryptocurrencies. Recently, Draper also announced his intention to take part in the so-called ‘initial coin offering’ of a new digital currency blockchain start-up called Tezos.

Other smart businessmen have made their mark using cryptocurrencies in other ways. One example is Patrick M. Byrne, founder and CEO of e-commerce giant Overstock.com, who decided in 2014 to become the first major retailer to begin accepting Bitcoin payments.

Investors Recognize OneCoin Potential

All of these investors have been drawn to OneCoin and other cryptocurrencies by one thing—the huge potential. These smart investors realize that we might just be seeing the beginning of the cryptocurrency explosion, as the growing awareness and increasing government acceptance and even investment into digital currencies is likely to further encourage new investments and further drive up the price. This has led some to suggest that Bitcoin is the ideal way to diversify your assets into a new market.

Unfortunately, it is unlikely that Bitcoin’s exponential growth can continue at this rate, which means that there is some risk involved as with any other investment. For this reason, many experts are recommending to look at newer emerging currencies like Onecoin.

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