Who is a Crypto Genius?

By Louis H-P on September 11, 2021

Do you know who is a Crypto genius? The mysterious Satoshi Nakamoto is widely considered the founder of Bitcoin, but of the others? Any person interested in investing can learn from them. As cryptocurrency trading has been embraced by younger generations as a way of creating capital, it has dominated the headlines. Yet scratch a little deeper and you will find other assets which benefit from the Crypto revolution. 

Who are the Crypto genius

In this article we will highlight people who have been at the forefront of Crypto. Many of these have made fortunes from their ideas. As a result they are a Crypto genius for their ability to provide a solution/service to customers.

The founder of Blockchain!

Arguably the greatest Crypto genius is the one who invented the blockchain. The suggestion is that someone under the pseudonym of Satoshi Nakamoto created it. Although Crypotcurrencies get a huge amount of coverage, blockchain ledgers are arguably more important.

Everything related to the Crypto sphere runs off of it: Cryptocurrency and NFTs. Soon, there will likely be other inventions which will also likely run off of it. Blockchain can be considered ‘the plumbing system’, it is boring but without it, nothing will work.

Barry Silbert – the billionaire

Mr Silbert is reportedly worth $1.6bn as the founder and owner of Digital Currency Group (DCG). DCG is a conglomerate of companies which invests in the Crypto currency sphere. The biggest revenue generator for the group is Grayscale digital asset management, which is available to investors on the over-the-counter market. Grayscale fund composition (see below) is a mixture of cryptocurrencies which reflect their importance in the current climate.

Mr Silbert’s sccess with Grayscale has allowed him to become an angel investor. At the time of writing he had invested in over 200 Crypto start ups. When he speaks at conventions, people listen.

The rise of the Winklevii

Cameron and Tyler Winklevoss, are twins who are Cryptocurrency billionaires. They are worth $6 billion as a result. They are believed to have invested $11 million in 2012 when Bitcoin was only worth $8. In 2021 Bitcoin peaked at over $60,000!

The twins have only once cashed their holdings. This was to set up another cryptocurrency project. Their buy and hold strategy has proven worthwhile but also shows their focused mindset. Even during periods of volatility they have not sold.

Their confidence in cryptocurrency was probably helped by the insight they have got from the 20 crypto-focused investments they have in their Winklevoss Capital firm.

Mike Winkelmann aka ‘Beeple’

Anyone who can ‘make’ a piece of art ‘Everydays — The First 5000 Days‘ and sell it for $69m in a short period of time should be considered a genius. Normally art investing takes decades to create a return. Here due to a non-fungible token it became at the time of the auction (March 2021) a record for a digital art sale.

Although a new development, digital art has room to grow. One of the difficulties with expensive art is storage and protecting it from theft. With NFTs being stored on Blockchain, any change in ownership is tracked. Theoretically this makes it less worthwhile to steel a digital art piece. In practise, the future may say something different!

Mr White Hat – the new Robin Hood

Anyone who can steal $600m of Crypto currencies, give it back and then claim they did it to help people can be considered a Crypto genius! The thief ‘Mr White Hat’ found a weakness in the Poly Network’s code and transferred the above sum to himself. After being warned that some of the assets were being frozen, Mr White Hat decided in a curious act of generosity to give most the crypto currencies back! He was even offered a job as chief security advisor.

His behaviour may have been influenced by the reaction of the Poly Network. As you would expect, it informed other Blockchain participants to reject the transactions linked to the stolen money. This made it hard for the thief to move the money.

Conclusion

Thematic investing will often produce positive results as you are investing in the business of tomorrow. Disruptive firms who can better solve a client’s problem by selling them a solution will always be popular. This means taking big risks, which may mean the potential for big profits.

Yet investors, especially retail ones, should consider, scams, downside risk and having some form of margin of safety. In the end, these investments are speculative, but could be attractive to a contrarian investor. You do not know what the outcome will be. Be warned, these Crypto geniuses either had little risk involved or were wealthy in other areas and could risk their money.

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Louis H-P

Louis is a portfolio manager and a trader who brings a wealth of experience in private banking to The Lazy Trader. A fundamentalist and a trouble-shooter, Louis makes a firm contribution to the trading team.

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