In the crypto space, personality matters a lot. A speech at a conference or even an ordinary tweet from an influential person can provoke a rise or fall in the price for Bitcoin and other coins. Which personalities to follow and how they have already influenced the cryptocurrency market.
Creators of the most popular altcoins
After Satoshi Nakamoto, developers of other cryptocurrencies enjoy great influence and fame. Litecoin became the first of these after Bitcoin. It was released by Charlie Lee in October 2011, based on the BTC programming code. Since then, the altcoin price has risen by 900% to $ 43, peaking at $ 375 in December 2017.
Vitalik Buterin, a Canadian-Russian programmer and Ethereum developer, is probably the most recognized among altcoin creators.
Ethereum is the second largest cryptocurrency in terms of capitalization. It was issued in 2013 and has risen in price by more than 8,000% since then. At the moment, altcoin costs $ 232, in January 2017 its price was understood to be up to $ 1,400. It was the ICO boom that made Buterin and his coin popular. 3 years ago, most projects used the ETH blockchain to issue their tokens.
Brad Garlinghouse, CEO of California-based blockchain startup Ripple, is also famous. He was not the direct developer of the XRP token, but is the face of the company. It develops solutions for banks that focus on fast and cheap cross-border transfers.
The attitude of the crypto community towards the XRP token is controversial. In particular, this is due to the fact that this altcoin cannot be mined. It is centralized, its entire issue of 100 billion coins was made by the company. Since its inception, its exchange rate has grown by 3,200%, to $ 0.19, in January 2018 having set a maximum of $ 3.84.
The head of the Tron Foundation project, Justin Sun, also has a controversial reputation. He is one of the creators of the TRX token, which was released in August 2017. Since then, altcoin has risen in price by almost 700%, to the current level of $ 0.016. The all-time high for the TRX price was set in January 2018 at $ 0.3.
Sun has repeatedly used disputable methods to advertise his project. For example, in January, the businessman published a post on his Twitter account with condolences about the death of basketball player Kobe Bryant, twice mentioning his own blockchain summit niTROn. In response, the crypto community accused Sana of heartlessness, lack of respect and recommended choosing a different PR campaign.
Sun is actively keeping his Twitter account. There, he often publishes announcements of project updates or events related to it. In most cases, this affects the TRX price. For example, in January, the businessman announced that he would launch a “secret project”, immediately after that, the TRX token and the second cryptocurrency of the BTT startup went up in price.
One of the key players in the cryptoindustry is Changpeng Zhao, Binance CEO, also known as “CZ”. The marketplace has its own BNB token. Last year, its price rose after the head of the company announced the development of the project on his Twitter account. The fortune of the head of Binance was estimated at $ 2.6 billion.
Billionaires and businessmen
One of the most famous wealthy in the cryptocurrency market is Mike Novogratz, a billionaire and head of the Galaxy Digital fund. He often gives interviews to leading American channels such as CNBC, giving Bitcoin price forecasts. For example, in April Novogratz announced that he expects the price of BTC to rise to $ 20,000 by the end of the year.
Another famous billionaire is Maxwell “Max” Kaiser, founder of Heisenberg Capital, host of the Keiser Report, and a former trader. When bitcoin was worth $ 1, Kaiser predicted the coin’s price would rise to $ 100,000. In February, this year, he raised the rate to $ 400,000.
The brothers Tyler and Cameron Winklevoss left a memorable mark in the history of digital money. In 2017, they became the first crypto billionaires.
In 2004, the brothers sued Mark Zuckerberg, Facebook CEO. He was alleged to have stolen their idea of creating a social network while studying at Harvard. For this reason, in 2010, Zuckerberg paid the Winklevoss family $ 65 million and $ 1.25 million in Facebook stock. Later, in 2013, the brothers invested about $ 11 million of the funds received in Bitcoin. Then its rate ranged from $ 100 to $ 1,100.
The main critic of the first cryptocurrency is Peter Schiff, the head of Euro Pacific Capital and a gold supporter. On March 13, he announced that the bubble had burst, referring to a sharp drop in the bitcoin price from $ 8,100 to $ 3,800. Since then, the coin has risen in price by almost 150%.
Schiff gained fame in the world of cryptocurrencies thanks to his performance in 2011, when Bitcoin was worth about $ 1. Then the economist said that he would prefer to invest $ 10 thousand in gold rather than in BTC, since it is not known what will happen to the latter in a few years. Since then, the coin has risen in price thousands of times, which the crypto community often remind Schiff of in his Twitter account.
Mark Cuban, the billionaire and owner of the Dallas Mavericks basketball club is also suspicious of cryptocurrency. From his point of view, bitcoin, unlike gold, is useless, since it cannot be used to create electronics or jewelry. Cuban expressed even more criticism in September 2019, comparing BTC to bananas. The berry, as it turned out, is better.
The heads of state are indirectly involved in the development of the crypto industry. At some points, they had a significant impact on the price of bitcoin and other cryptocurrencies. For example, last October, the President of China said that blockchain is one of the key technologies. Within a day after that, the BTC rate rose from $ 7,000 to $ 10,000. Four days later, the PRC-based TRX token went up in price by 50%, and Neo – by 100%.
US President Donald Trump made the opposite contribution. In July last year, the head of state wrote on Twitter that cryptocurrencies are not a monetary unit, they are extremely volatile, and their value is “out of the blue.” He also criticized the Facebook Libra payment system project, calling it unreliable. Within a week thereafter, BTC dropped by 15%.
Trump has influenced the stock market more than once. You can read more about such cases in the article of our colleagues. Moreover, Trump was planning to do away with cryptocurrency and ban crypto trading. With the appropriate instructions, he turned to US Treasury Secretary Stephen Mnuchin in May 2018. This is stated in the book of John Bolton, the former adviser to the President of the United States on national security “The Room Where It Happened: Memoirs of the White House.”
Venezuelan President Nicolas Maduro has shown great favor to cryptocurrency. In October, he indicated that the country is using digital money to circumvent US sanctions.