Crypto Millionaires of 2021: Where Are They Now?

In 2021, the crypto world created a wave of new millionaires. According to the 2024 Crypto Wealth Report by Henley & Partners, the number of crypto millionaires and billionaires has continued to rise, highlighting the firm’s authoritative statistics on this trend. This surge is contributing to the emergence of a ‘new world wealth,’ as crypto assets become increasingly concentrated among high-net-worth individuals globally.

But where are the crypto millionaires of 2021? Where are they now? This article catches up with them, examining their current net worth, career progressions, and the market’s impact on their fortunes since then.

Key Takeaways

• In 2024, the number of crypto millionaires surged to approximately 172,300 over the past year, showcasing the expanding influence and acceptance of digital assets.
• Successful figures like Changpeng Zhao and Brian Armstrong exemplify resilience and adaptability in navigating the dynamic crypto landscape, contributing to substantial growth in their wealth.
• The future of crypto wealth looks bright, driven by ongoing innovation and strategic investments, with potential for long-term rewards for dedicated investors.

Revisiting 2021’s Crypto Millionaires

In 2021, the crypto industry saw a surge in activity, with the digital gold rush reaching its peak. Key highlights include:

• Approximately 172,300 individuals became crypto millionaires globally, a notable milestone for the cryptocurrency ecosystem.
• Around 85,400 of these millionaires exclusively owned Bitcoin, exemplifying its immense value.
• These Bitcoin millionaires represented the new face of wealth, demonstrating the transformative impact of cryptocurrencies.

This period also marked the emergence of bitcoin billionaires, the wealthiest and most influential individuals in the crypto space, who have become prominent members of the crypto elite.

The growing popularity of digital currencies, coupled with related products and services and strategic market exploitation, fueled the rise of crypto millionaires. Crypto billionaires thrived by offering key products and services or leveraging market fluctuations, becoming influential figures with millionaire status. The ecosystem experienced a paradigm shift in asset ownership and value, with the accumulation of bitcoins by both individuals and companies playing a crucial role in redefining wealth and profits in the digital age. Each coin, as a digital asset, holds significant value and importance within the crypto ecosystem.

Crypto whales, such as exchange founders and influential developers, were pivotal in sustaining the blockchain ecosystem and the broader market. Examining the journeys of these top Bitcoin millionaires reveals how their strategic decisions and resilience have solidified their legacy in crypto history.

Changpeng Zhao (CZ)

Changpeng Zhao, popularly known as CZ, is a name synonymous with success in the crypto industry. Zhao’s net worth was approximately $33 billion in 2021, a testament to his monumental impact on the market. Fast forward to 2024, and Zhao’s net worth had soared to an impressive $67.8 billion, peaking at almost $95.9 billion in 2023. CZ’s strategic investments and leadership as the founder of Binance, a leading cryptocurrency exchange, catapulted the company to the forefront of the crypto world. Zhao’s net worth continues to reflect his influence and success in the industry.

However, Zhao’s journey was not without its challenges. In a surprising turn of events, CZ stepped down as the CEO of Binance after reaching an agreement with the U.S. Department of Justice in response to regulatory scrutiny. Despite this, his role as the executive chairman and his controlling stake in Binance Holdings ensured that his influence remained strong.

Binance, facing operational challenges due to its lack of a defined headquarters, continued to navigate the regulatory landscape under Zhao’s guidance. Changpeng Zhao’s journey exemplifies the dynamic nature of the crypto industry. His adaptability and resilience in the face of challenges highlight what it takes to succeed in this ever-evolving market.

CZ’s story stands as a beacon of innovation and perseverance, offering insights as we explore the journeys of other crypto millionaires.

Brian Armstrong

Brian Armstrong, the co-founder and CEO of Coinbase and former Airbnb software engineer turned crypto mogul, has been a pivotal figure in the crypto ecosystem. As the CEO of Coinbase, Armstrong’s leadership saw the company grow exponentially, solidifying its position as a leading cryptocurrency exchange. In 2021, Armstrong’s estimated net worth was $11.2 billion, reflecting both the success and the challenges faced by Coinbase.

Under Armstrong’s leadership, Coinbase saw significant growth, reaching over 100 million verified users and becoming a household name in the crypto world. His rise from a former Airbnb software engineer to a crypto billionaire highlights the transformative potential of the cryptocurrency industry.

Armstrong’s influence on the market and his commitment to innovation have left an indelible mark on the digital currency landscape.

Michael Saylor

Michael Saylor, the CEO of MicroStrategy, made headlines with his bold investments in Bitcoin. Key points include:

• In 2020, MicroStrategy’s first significant investment in the cryptocurrency was a $250 million purchase, marking a pivotal moment in the corporate adoption of digital assets.
• By February 2025, MicroStrategy had invested approximately $27.95 billion in Bitcoin, holding 402,100 BTC.
• Saylor’s estimated net worth was $10.2 billion in December 2022, but it has since decreased to $4.4 billion due to market fluctuations.

Fluctuations in bitcoin’s price have directly impacted both Saylor’s net worth and the value of MicroStrategy’s holdings, demonstrating how changes in the cryptocurrency’s value can create or diminish significant wealth.

Saylor’s journey was not without its hurdles. In August 2021, he faced charges for failing to pay personal income taxes, which he settled for $40 million in May 2024. Despite these challenges, Saylor remained a staunch advocate for Bitcoin, encouraging other companies to add it to their corporate balance sheets. His steadfast belief in Bitcoin as a hedge against inflation and a strategic investment has solidified his position among the top Bitcoin millionaires.

Michael Saylor’s journey illustrates the volatility and potential rewards of the crypto market. His dedication to long-term investment strategies and advocacy for corporate Bitcoin adoption showcase the transformative power of digital assets.

As we explore the journeys of other crypto millionaires, Saylor’s story offers valuable insights into the potential of cryptocurrency investments.

Giancarlo Devasini

Giancarlo Devasini, the Chief Financial Officer (CFO) of Bitfinex and Tether, has played a crucial role in the stability and growth of blockchain infrastructure. With an estimated net worth of $9.2 billion, Devasini’s financial developments and strategic decisions have been instrumental in shaping the crypto market.

As the CFO of Tether, the leading issuer of stablecoins, Devasini has contributed significantly to the cryptocurrency ecosystem. His expertise and strategic vision have ensured the stability and growth of digital currencies, making him a key figure in the world of crypto billionaires.

Devasini’s path highlights the importance of finance acumen and strategic planning in navigating the complex digital asset landscape.

Chris Larsen

Chris Larsen, the executive chairman and former CEO of Ripple, has made substantial contributions to blockchain technology. In 2021, Larsen’s estimated net worth was $8.3 billion, but it has since decreased to $4.0 billion as of December 2024. Despite this, Larsen’s investments in Bitcoin and other digital assets continue to underscore his influence in the crypto world.

Larsen’s transition from leading Ripple to his current role reflects the cryptocurrency industry’s dynamic nature. His contributions to blockchain technology and strategic investments have established him as a prominent figure among crypto millionaires who co founded ripple.

Larsen’s story highlights the importance of innovation and adaptability in the ever-evolving digital currency landscape.

New Entrants in the Crypto World

The past few years have seen a remarkable influx of new entrants into the crypto world. As of mid-2024, the number of crypto millionaires surged to approximately 172,300, representing a 95% increase over the previous year. This growth is a testament to the expanding influence of digital assets and the increasing acceptance of more crypto millionaires as a legitimate asset class.

Centi-millionaires, those with over $100 million in crypto assets, have also seen a significant rise, with a count of 325, marking a 79% increase. Moreover, the number of crypto billionaires grew by 27% from July 2023 to June 2024, bringing the total to six new crypto billionaires. These new crypto billionaires have brought fresh perspectives and innovations, contributing to the growth and stability of the cryptocurrency ecosystem, which is now valued in the billions. This growth reflects the increasing influence of millionaires and billionaires in the crypto space.

The role of blockchain technology and new asset class cannot be overstated. With the emergence of various blockchain platforms and digital currencies, the crypto market has become more diverse and dynamic. As we explore the journeys of these new entrants, we see the transformative potential of the digital gold rush and the opportunities it presents for wealth creation.

The rapid rise in crypto millionaires and billionaires is reshaping world wealth, contributing to the global distribution of high-net-worth individuals and highlighting the growing impact of crypto assets within the broader context of global wealth.

Early Adopters and Their Journey

Early adopters of Bitcoin and other cryptocurrencies have played a pivotal role in shaping the market. In 2020, MicroStrategy’s $250 million Bitcoin purchase marked the beginning of a significant shift in corporate investment strategies. The rise of Bitcoin as a mainstream asset has transformed it into a hedge against inflation and a key component of many investment portfolios.

Bitcoin’s limited supply of 21 million coins has contributed to its increasing value as demand grows. Early adopters, who recognized the potential of Bitcoin and other digital currencies, have seen substantial gains over the years. Their commitment to long-term investment strategies has helped alleviate the stress of short-term volatility in most bitcoin crypto assets.

The paths of these pioneers highlight the importance of vision and resilience in navigating the complex world of digital currencies.

The Impact of Market Volatility

Market volatility has always been a double-edged sword for crypto investors. The number of Bitcoin millionaires has risen significantly, reflecting increased market confidence and participation. However, the crypto market is known for its daily price movements that can reach double-digit percentages, presenting both challenges and opportunities.

Investors who held Bitcoin through its major price fluctuations from 2017 to 2025 have experienced significant financial rewards. The journey of early Bitcoin adopters highlights the volatility of the market, with prices experiencing multiple peaks and troughs. Despite these challenges, crypto millionaires often take advantage of market volatility by buying low and selling high.

The evolving regulatory environment has affected crypto millionaires, especially regarding asset liquidity and transferability. New regulatory frameworks aim to combat money laundering, requiring wealth managers to enhance compliance measures. Navigating these challenges highlights the importance of patience and commitment amid market volatility.

Institutional Demand and Its Effects

Institutional demand has substantially influenced the crypto market in several ways:

• Boosting Bitcoin demand and contributing to the rise of crypto millionaires.
• Bringing greater price stability and mainstream acceptance of digital assets.
• Fueling the rapid growth of Bitcoin ETFs, which now represent a significant portion of total cryptocurrency market assets.

Large financial institutions are increasingly offering crypto-related investment products to meet the rising demand from private clients. The total market capitalization of the cryptocurrency sector saw a substantial increase, reaching approximately $3.89 trillion, highlighting the growing influence of institutional demand on the market cap, which is now valued at over a billion dollars.

This trend underscores the importance of institutional players in shaping the future of the crypto ecosystem.

Security and Custody Challenges

Security and custody challenges remain significant concerns for crypto investors. On-chain and off-chain vulnerabilities threaten crypto assets, with compromised private keys being a major issue in recent hacks. Although the total value stolen from crypto platforms has dropped significantly, the number of hacking incidents has increased, indicating a rise in threat frequency.

In 2023, North Korean hackers executed the highest number of crypto hacks on record, despite a decrease in the total funds stolen. However, DeFi protocols have experienced a substantial reduction in hacking losses, dropping by 63.7% year-over-year in 2023, thanks to improved security measures.

These developments highlight the ongoing need for robust security practices and innovations in the crypto space.

Regulatory Changes and Their Implications

The evolving regulatory landscape has had significant implications for crypto millionaires. Changpeng Zhao, for instance, faced legal scrutiny and was sentenced to four months in prison following his guilty plea on anti-money laundering charges. Binance also faced legal challenges for alleged violations of trading rules and for enabling users in Iran to trade despite sanctions.

The introduction of new regulatory frameworks aims to combat money laundering in cryptocurrency transactions, necessitating enhanced compliance measures from wealth managers. Regulatory uncertainty impacts crypto millionaires by affecting their ability to transfer or liquidate Bitcoin in certain jurisdictions, including the exchanges.

These changes underscore the importance of navigating the complex regulatory environment to ensure the stability and growth of digital assets.

Future Prospects for Crypto Wealth

Looking ahead, the future prospects for crypto wealth appear promising, driven by innovation and strategic investments. Brian Armstrong’s net worth is projected to be approximately $9.6 billion in 2025, primarily attributed to his 14% ownership in Coinbase. Under Armstrong’s leadership, Coinbase has grown from a $5 million startup to a company valued at $100 billion at its peak, amassing over 100 million verified users. Armstrong’s continued investments in tech startups illustrate his commitment to innovation and the future of the crypto industry.

Michael Saylor’s view that Bitcoin will eventually replace gold as a primary store of value underscores the long-term potential of digital assets. He believes Bitcoin serves as a hedge against inflation and a strategic investment, emphasizing the importance of holding through market volatility. A $1,000 investment in Bitcoin from early 2017 has grown to over $126,000 by 2025, showcasing the benefits of long-term holding. This strategy, known as HODLing, highlights the resilience and patience needed to navigate the volatile crypto market, especially as bitcoin’s price continues to evolve.

The richest crypto billionaire, according to Forbes, is Changpeng Zhao (CZ), with an estimated net worth exceeding $30 billion. His prominence in the cryptocurrency industry and rapid accumulation of wealth serve as a benchmark for the sector’s potential and the opportunities available for future crypto leaders.

Giancarlo Devasini’s wealth has also seen significant growth, reaching approximately $22.4 billion as of October 2025. The continued expansion of the crypto market, driven by institutional demand and innovative technologies, promises more opportunities for wealth creation.

With the ongoing digital gold rush, the future of crypto wealth appears promising for long-term investors and fortune innovators.

Summary

Reflecting on the journeys of the crypto millionaires of 2021, it is evident that the crypto world has evolved dramatically over the past few years. From the rise of Bitcoin millionaires to the influx of new entrants and the increasing influence of institutional demand, the cryptocurrency ecosystem has seen significant growth and transformation. The stories of Changpeng Zhao, Brian Armstrong, Michael Saylor, Giancarlo Devasini, and Chris Larsen highlight the resilience, innovation, and strategic vision required to succeed in this dynamic market.

As we look to the future, the potential for continued wealth creation in the crypto industry remains strong. The challenges of market volatility, security, and regulatory changes are balanced by the opportunities presented by institutional demand and technological advancements. For those willing to navigate the complex landscape of digital assets, the digital gold rush holds promise and potential for substantial financial rewards.

Frequently Asked Questions

How many crypto millionaires were there globally in 2021?

In 2021, there were about 172,300 crypto millionaires around the world, showing the incredible growth and potential of cryptocurrency investments. This highlights a bright future for those involved in this dynamic market!

What was Changpeng Zhao’s peak net worth?

Changpeng Zhao’s peak net worth reached an impressive approximately $95.9 billion earlier in 2023, showcasing his remarkable success in the cryptocurrency industry.

How has institutional demand affected the crypto market?

Institutional demand has positively impacted the crypto market by enhancing price stability and increasing mainstream acceptance, leading to the impressive growth of Bitcoin ETFs and creating more opportunities for investors. This trend is paving the way for a promising future in digital assets.

What are some security challenges faced by crypto investors?

Crypto investors encounter challenges like compromised private keys and hacking incidents, but staying informed and adopting strong security practices can significantly reduce risks. Embracing these measures helps create a safer investment environment.

What are the future prospects for crypto wealth?

The future prospects for crypto wealth are bright, fueled by ongoing innovation and rising institutional interest. Embracing long-term strategies can lead to substantial growth and opportunities in this expanding market.