Thursday, February 8, 2018

Meet the Cryptocurrency Billionaires

From FT Alphaville:

The end is in sight, right? 
Forbes has long guesstimated and ranked the world's plutocrats, capitalists, scions and princelings. It has now attempted to rank the richest people in cryptocurrency, although at least with some awareness of the nonsense:
...fortunes can be made overnight, and the winners of this digital lottery differ from those in previous manias. 
Top spot, bafflingly, goes to Chris Larsen, a co-founder of Ripple, at $7.5bn to $8bn. The bafflement comes because the idea there is anyone who would pay Mr Larsen $8bn for his Ripple hoard deserves a raspberry.

Indeed, Forbes set their valuation date as January 19, when Ripple's price was $1.66 according to Coindesk. Today it is $0.78....MORE