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World's Richest Bitcoin Trader Has Lost $4 Billion In A Month As Crypto Crashes

by : Anish Vij on :
World's Richest Bitcoin Trader Has Lost $4 Billion In A Month As Crypto Crashes
World's Richest Bitcoin Trader Has Lost $4 Billion In A Month As Crypto Crashes (Alamy)

The World's richest Bitcoin trader has reportedly lost $4 billion (£3.24 billion) in little more than a month.

The anonymous billionaire reportedly saw his fortune fall by $100 million (£81 million) a day after the crypto crash.

They were said to have more than 252,000 digital coins, valued at $12 billion (£9.7 billion), according to BitInfoCharts.

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Due to the crypto wobble, the market has dropped and as a result, Bitcoin has lost tremendous value, for the time being.

Credit: bitinfocharts
Credit: bitinfocharts

The fortune of the wealthy trader reached $19 billion (£15.4 billion) with 288,000 BTC in September 2021, The Sun reports.

However, due to losing such value, they have since sold off around 35,000 of the coin.

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Not to mention that Bitcoin has lost roughly 50 percent of its value in the past six months.

Bitcoin is generally seen as being the number one crypto in the game, however, the added risk and reward combined with the sheer volatility means the value of your investment can fluctuate massively.

Credit: Alamy
Credit: Alamy

Despite the risk involved, it has been revealed that 53% of Americans think crypto will be 'the future of finance', according to a poll.

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Some 53% of respondents in the national survey agreed to this view, according to PR Newswire.

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With the 25 to 34 age group, the figure was as high as 68 percent, which wasn't too dissimilar among the 35 to 44-year-olds, where it was 61 percent agreement.

Also, 17 percent said they have invested in cryptocurrency.

Credit: Alamy
Credit: Alamy
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"This poll shows how widespread crypto has become, while indicating just how huge it will soon become," said Eli Ben-Sasson, co-founder and president of StarkWare Industries, which commissioned the research.

"We see that young Americans, those who will soon shape the economy, are especially tuned in to crypto. It's an important insight that they are investing in large numbers, and overwhelmingly convinced crypto will be 'the future.'"

Credit: Alamy
Credit: Alamy

Uri Kolodny, co-founder and CEO of StarkWare, commented: "We wanted to research public opinion as we launch StarkNet, to get a sense of how much the general public expects to use crypto over the coming years. The results are exciting, but also unsettling.

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"They highlight huge enthusiasm for crypto, and show that blockchain is creaking under the weight of current use. Unless we start to work smarter, blockchain simply won't be able to cope with growing demand."

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Anish Vij

Anish has an MA in Multimedia Journalism and is passionate about delivering sarcastic/mildly amusing content. After studying business at undergrad, Anish realised that he’d much prefer getting paid to rant about a topic, rather than to find a solution to it. Apart from that, he loves the ‘Four F’s’, as he calls it - family, friends, football and food. Email: [email protected]

Topics: Technology, Bitcoin