Investors view crypto as an investment that does not feel the impact of severe economic crises that face fiat currency. Since the launch of bitcoin, blockchain technology has been utilized to give rise to more digital currencies such as Ethereum and dogecoin, etc. 

Several billionaires have expressed their opinions publicly on cryptocurrency; most identify as crypto enthusiasts and have consequently invested in the market. Others have expressed their skepticism, which has changed and is seen to contradict themselves as they make heavy crypto-investments later. 

This article will focus on five billionaires who have recently shown interest in cryptocurrencies.

Elon Musk 

Whenever we talk about cryptocurrencies and billionaires, the name Elon Musk will pop up. The billionaire has recently been on the news scope after he purchased Twitter. He is known for being vocal about cryptocurrencies. He is known to take to Twitter severally to express his sentiments on capitalism and cryptocurrencies. 

The South African-born billionaire expressed mixed feelings on bitcoin, saying it was not quite convenient for his company, tesla. The company was previously accepting payments using cryptocurrency, namely Ethereum and bitcoin. This was halted due to the environmental impact cryptocurrency mining had on the environment. 

The space X CEO often expresses how he thinks cryptocurrency is the future. He has invested in Bitcoin, Ethereum, and dogecoin; the latter is his favorite coin as he thinks that it's more of a people's coin which people from all walks of life can own. He also expressed it is more suitable as a transactional currency than Bitcoin.

Jay-Z

The hip-hop legend and business mogul has recently shown interest in blockchain technology. He recently created an endowment trust with Jack Dorsey to fund the development of Bitcoin in India and Africa. The duo placed 500 million worth of bitcoin into the fund to push cryptocurrency adoption in these regions, which may face currency devaluation during cross-border exchanges.

The rapper has also added sLABS, a blockchain tech incubator on the metaverse aimed at making blockchain products. He also invested in the $19 million series A, a shop for NFTs which utilize blockchain technology and cryptocurrencies. He is also a board member at Square, which enables bitcoin exchanges.

Barry Silbert

The Digital Currency Group CEO aims to grow and develop bitcoin and blockchain technology companies to revolutionize global financial systems. The company has shown its interest in cryptocurrency by investing in more than 168 blockchain companies. 

Silbert also owns Grayscale, which oversees Ethereum and bitcoin-related transactions.DCG has invested 168 in cryptocurrency and blockchain-related companies. He has, however, expressed his doubts about the success of dogecoin and asked them to convert their crypto to bitcoin as the coin was overvalued. He received a lot of backlash from crypto enthusiasts who believed that dogecoin would be the next bitcoin.

Michael Novogratz

Michael Novogratz, the CEO of Galaxy Digital, believes that cryptocurrency will play a huge role in the future. Galaxy Digital has invested in cryptocurrencies with the crypto enthusiast as its CEO. The company focuses on the blockchain technology industry and the development of cryptocurrency. 

Novogratz has been optimistic about the future of bitcoin, saying that the coin will reach a $1 million value. He recognizes that bitcoin will not be used for buying everyday essentials like shoes and that bitcoin is gradually becoming a part of institutional investments. The enthusiast has publicly stated that he intends to preserve some of his wealth in blockchain technology.

Thomas Peterffy

Petterfly is a well-known businessman with a net worth of $18.1 billion who chairs a trading platform comprised of investors named Interactive Brokers. He recently stated that he owns some cryptocurrency. He did not specify which cryptocurrency he owns in his portfolio. He has been very critical of bitcoin technology in the previous years.

Interactive brokers are preparing to adopt blockchain technology and cryptocurrency at the end of summer. The billionaire, however, states that he is not very optimistic about the future of cryptocurrency. In a recent interview, he said that there was a small chance of cryptocurrency becoming the dominant currency.

 Interactive brokers serve sophisticated customers; its move is thus noteworthy as more investors, including the billionaire CEO, will continue making more investments in Blockchain technology.

Conclusion 

Blockchain technology has experienced a surge in the past year as more users seek an investment that remains unaffected by the pandemic. Investors resulted in cryptocurrencies and other blockchain investments, which saw their rise in value. Various billionaires have recently expressed their interest in cryptocurrencies. 

Some are publicly known as crypto-enthusiasts, while others have been pessimistic about digital currencies. However, the latter has recently contradicted themselves by acquiring some cryptocurrencies for their portfolios.