They Became Billionaires by Investing in Crypto

The business magazine publishes the first list of new riches in virtual currency.Photo by Execution on Unsplash.Forbes magazine, known for making lists of the wealthiest people globally, published the first billionaires in cryptocurrencies. According to the list, Chris Larsen, founder of bitcoin’s rival Ripple virtual currency, is the wealthiest person in virtual currencies, with 8 billion dollars. The list includes names like former Goldman Sachs executive Joseph Lubin or the Winklevoss twins, who accused Mark Zuckerberg of stealing their Facebook idea. On Thursday (8), the quotation of bitcoin was approximately 8,500 dollars.Cryptocurrencies emerged in 2009, and it is estimated that only a small group that has participated since their creation holds most of the wealth. However, it was introduced as a model that would democratize the financial system. According to the list Forbes published on Wednesday, there are 19 billionaires in digital currencies. However, it is a very volatile market. Without going any further, this week, the price of bitcoin plummeted more than 30%, reaching values ​​below 8,000.When Forbes published the ranking — based on quotes as of January 19, 2018 — Chris Larsen was leading, with an estimated wealth of around $8 billion. However, when ripple peaked that same month, his wealth exceeded $60 billion, making him richer than Mark Zuckerberg, the creator of Facebook. According to the business magazine, the volatility of the daily cryptocurrency quotation in January 2018 was 10.25% in bitcoin, 12.62% for ether, and 16.75% for ripple. Values ​​like gold have less than 1% volatility.Forbes’ list shows that almost everyone who appears in the rankings participated in the founding of digital coins or was involved with them for years. Furthermore, it draws attention to the profile of those that make a list: they are all men and, unlike the list of wealthiest people in America…