In this article, we discuss 5 cryptocurrencies millionaires love. If you want to see some more cryptocurrencies which are popular among millionaires, check 10 Cryptocurrencies Millionaires Love.
5. Cardano
Cardano is a blockchain platform that runs on the proof-of-stake consensus mechanism, which was founded back in 2017 by Charles Hoskinson, a co-founder of the Ethereum network. Cardano promotes the creation of decentralized apps and smart contracts. In 2020, Cardano went through an upgrade that made the platform more decentralized. The total supply of ADA tokens is 45 million, 16% of which are owned by the project’s founders, with the remaining 84% circulated among investors.
Glauber Contessoto is an American man in his 30s who invested his life savings of $250,000 into Dogecoin last year and became a millionaire as the meme coin gained traction in the market. He has gone on record to say that his next move is Cardano, and he will invest every bit of his profits in the ADA coins once the price dips.
4. Solana
Solana is an open-source blockchain platform that allows programmers to build decentralized finance applications. Solana was publicly launched in March 2020, with its native token being SOL. Combining a proof-of-history and proof-of-stake consensus, Solana is one of the fastest and highly scalable blockchains. The platform also offers low transaction fees to users. A total supply of 489 million SOL tokens is available, with 260 million coins already in circulation.
Chamath Palihapitiya is a billionaire venture capitalist and CEO of Social Capital. Chamath Palihapitiya’s firm helped raise $8 million in seed capital for Syndica, a company that builds cloud and Web3 infrastructure on the Solana blockchain. He lauded Syndica for smoothly transitioning into Web 3.0 using the Solana ecosystem, further validating the platform and its native currency, SOL.
3. The Sandbox
The Sandbox is a virtual world that runs on a blockchain, enabling users to develop and trade digital assets in a game setting. The platform uses DeFi apps and NFTs to promote a vibrant gaming community. Given its “play-to-earn” model, The Sandbox allows users to create digital assets and play simultaneously. The platform promoted blockchain adoption in the gaming universe back in 2011, and the SAND token enhances decentralized governance.
Adrian Cheng, the billionaire CEO of Hong Kong-based New World Development, has decided to enter the crypto space by joining The Sandbox. He aims to transform the metaverse experience for the young generation with his involvement in the The Sandbox gaming universe.
2. Ethereum
Ethereum is the second largest cryptocurrency in terms of market capitalization and overall popularity. Ethereum is a decentralized open-source blockchain ecosystem with Ether as its native cryptocurrency. Vitalik Buterin is a prominent Ethereum co-founder, and the blockchain officially went live in July 2015.
Ethereum first introduced the concept of smart contracts on its blockchain, and it uses the ERC-20 compatibility standard to host multiple tokens on its platform. Ethereum is planning to upgrade to a proof-of-stake mechanism in 2022 for improved scalability. In September 2021, 117.5 million Ether coins were in circulation.
Cooper Turley is a 25-year old millionaire who invested early in Ethereum and Bitcoin, generating his wealth in the last two years as the crypto market skyrocketed. His first Ethereum invest was back in 2017, when he was a music student at the University of Colorado Denver. He began investing seriously in Ethereum in 2018, when he understood the kind of real impact blockchain technology could have on the world, particularly how it could benefit musicians by wiring royalty payments directly to creators.
1. Bitcoin
Bitcoin is the most popular digital currency in circulation today, with a market capitalization of more than $873 billion. Bitcoin is a decentralized cryptocurrency that was launched in January 2009 by an unknown person named Satoshi Nakamoto. Bitcoin was created for direct peer-to-peer transactions, and the owners envisioned the coin to be a reliable mode of payment without the involvement of financial institutions.
Bitcoin was the first digital currency on the crypto market which is now worth over $2 trillion. Bitcoin is perceived to be the most reliable mode of payment, with millions of participants in its trading circle from all over the world. The total Bitcoin supply will not exceed 21 million coins, but new coins can be mined.
One of the biggest champions of Bitcoin is Bill Miller, the legendary American hedge fund manager who has a solid track record of beating the S&P 500 returns over the years. He first invested in Bitcoin back in 2014, when the coin traded for about $200. In 2021, he began purchasing the currency again when it was worth around $30,000. Today, 50% of his total wealth is invested in cryptocurrencies and digital assets, especially Bitcoin.
You can also take a look at Top 10 Blue Chip Stocks to Buy in 2022 and 10 Stocks to Buy Before the Next Recession.
