A MYSTERY Bitcoin investor has seen their wealth swell to a staggering $30.5 billion as the cryptocurrency’s value continues to soar.
The investor’s stunning fortune puts them firmly among the world’s richest people – and 15 times richer than King Charles.
A 25 Bitcoin token is displayed in Sandy, Utah[/caption]
The unidentified investor has seen their fortune reach astronomical heights[/caption]
It comes as the cryptocurrency‘s value surged past $120,000 per Bitcoin for the first time, Forbes has reported.
Bitcoin‘s value has doubled since Donald Trump won his return to the White House last November.
Trump had vowed to make America “the crypto capital of the planet” during his run for office.
The unidentified investor has seen their fortune reach astronomical heights amid this boom.
Already holding the largest known Bitcoin wallet, their $30.5 billion wealth would put them firmly in the top 100 richest people on the planet based on Forbes’ list.
They would now stand at 65th on the list, based on available information at time of writing.
Their record fortune has been steadily climbing over the past few months – and has now soared past the astonishing $30 billion mark.
The investor’s Bitcoin wallet currently sits at a whopping $30.46 billion, according to BitInfoCharts.
However, the investor’s identity remains a mystery – and they are only known by an address name of seemingly random numbers and letters.
The Sun previously reported on the anonymous investor’s fortune, which flew past $20 billion in November following Donald Trump‘s election victory.
Back then, their wealth would have put them 99th on the rich list.
Bitcoin’s surge in value has been, in part, put down to Donald Trump’s support for the cryptocurrency sector, Forbes has reported.
Other cryptocurrencies have also seen a boost.
The US House of Representatives is set to debate bills that would provide regulatory framework for the sector.
Lawmakers are poised to vote on the Genius Act, which would establish federal rules for stablecoins.
Coinbase CEO Brian Armstrong celebrated Trump’s election win back in November.
He said: “Tonight the crypto voter has spoken decisively — across party lines and in key races across the country.
“Americans disproportionately care about crypto and want clear rules of the road for digital assets.
“We look forward to working with the new Congress to deliver it.”
The dangers of crypto
Despite the recent price rise, there are dangers to buying crypto currencies.
- Consumer protection: Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.
- Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
- Product complexity: The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks. There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market.
- Charges and fees: Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.
- Marketing materials: Firms may overstate the returns of products or understate the risks involved.
