🌋 Trump’s Victory Boosts Wealth of Leading Crypto Entrepreneurs
posted 3 hr ago
The wealth of prominent crypto entrepreneurs saw a sharp increase following Donald Trump’s recent election victory, as shares in cryptocurrency companies rallied in anticipation of the newly elected U.S. President's promised pro-digital assets policies.
Coinbase CEO Brian Armstrong’s net worth grew by $2.6 billion after the election results, bringing his total wealth to approximately $11 billion.
Brian Armstrong. Source: CNN
This surge was triggered by a rise in Coinbase shares, which closed at around $255 on November 7.
Coinbase Share Price Increases. Source: Google Finance
Coinbase co-founder Fred Ehrsam also saw gains, adding $600 million to his net worth.
Fred Ehrsam. Source: CoinDesk
Robinhood co-founders Vlad Tenev and Baiju Bhatt also witnessed a rise in their fortunes. Bhatt’s wealth jumped by $307 million to reach $1.9 billion, while Tenev’s net worth increased by nearly $300 million.
Vlad Tenev (left) and Baiju Bhatt Source: Instagram
Robinhood’s shares rose about 20%, closing above $29.
Robinhood Stock Price Trend. Source: Google Finance
MicroStrategy founder Michael Saylor’s net worth grew by almost $600 million, bringing his wealth to around $6.6 billion.
Michael Saylor. Source: michael.com
This increase followed a 13% rise in MicroStrategy shares, which reached $272 – one of their highest values this year.
MicroStrategy Stock Price Gains. Source: Google Finance
On November 8, 2024, Bitcoin hit a new all-time high, exceeding $76,000. Analysts link this spike to a surge in optimism and euphoria in the crypto market, driven by expectations of the next five years under President Donald Trump.
BTC Holds at New Highs. Source: Google Finance
Trump has positioned himself as the “crypto president,” vowing to make the United States the “crypto capital of the world.” Investors are hopeful that his administration will foster a regulatory environment favorable to digital assets.
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