As the head of Digital Currency Group, Barry Silbert is one of the most influential individuals in the cryptocurrency space. His company is a composite organization of six cryptocurrency-focused enterprises. He built his wealth by investing early into Bitcoin and other crypto related companies. As of 2022, Barry Silbert has a net worth of $3.2 billion.
Barry Silbert was born in 1976 in Gaithersburg, Maryland. He was just a young man when he started his first business pursuit by selling baseball cards.
He completed the General Securities Representative Exam while still in high school and became a stockbroker. At the age of 17, he took the Series 7 stockbroker exam and passed.
Silbert set a record by becoming the youngest person to do so. The smart youngsters earned a BBA in Finance from Emory University’s Goizueta Business School in 1998.
Rise to Prominence
After college, Silbert landed his first job at Houlihan Lokey as an associate. He worked there from 1998 until 2004. After leaving, he founded SecondMarket.
Around this time, he became the CEO of Restricted Stock Partners. He held the position from 2004 to 2008. He bought his first Bitcoin in 2012, making him one of the cryptocurrency’s early investors.
With a $2 million budget, Silbert founded the investment vehicle Bitcoin Investment Trust at SecondMarket. It was the first of its kind in the US, and it sparked a lot of new opportunities for Barry.
Digital Currency Group
Aside from buying cryptocurrency in its early stages, Silbert built his wealth by investing in crypto-focused companies. He did this by selling SecondMarket to Nasdaq and founding Digital Currency Group (DCG) in 2015.
DCG has over 200 enterprises in its investment portfolio, spread across more than 30 countries. This includes Coinbase, eToro, and Kraken. It also holds Ethereum, Ethereum Classic, and Bitcoin, among other digital tokens.
Currently, Digital Currency Group holds six subsidiaries. This includes Genesis Trading, TradeBlock, Foundry Services, Luno Global, CoinDesk, and perhaps its most successful venture, Grayscale Investments.
Grayscale Investments is the world’s biggest virtual currency asset manager that was founded in 2013. It provides corporate and accredited investors with private funds as well as publicly-traded goods.
The company also runs the Grayscale Bitcoin Investment Trust, which was the first publicly-traded security purely involved in Bitcoin’s price since its original launch.
Grayscale introduced the Grayscale Digital Large Cap Fund in 2018. It allowed customers to invest in a collection of popular virtual currencies and became available to the public in 2019.
He is a cryptocurrency tycoon who is considered a Bitcoin whale. Silbert has one of the largest Bitcoin holdings in the world as he manages Grayscale, an investment vehicle which owns over 650,000 Bitcoin.
Barry Silbert was named on Fortune’s 40 Under 40 list in 2011. More recently, he became the eighth wealthiest person in the crypto community, with his current net worth of $3.2 billion.
The crypto billionaire owns a home in the coastal suburban city of Rye, New York. He lives there with his wife Lori Silbert and their son.