Barry Silbert Wiki, Net Worth, Grayscale Holdings, And More

Barry Silbert.
Courtesy of CoinDesk.com.

 

Who Is Barry Silbert?

Barry Silbert is an influential cryptocurrency investor, entrepreneur, and billionaire. Silbert is one of the earliest investors in Bitcoin, having acquired the cryptocurrency for the first time in 2012. Silbert is also the founder of Digital Currency Group – an enterprise that builds and supports cryptocurrency and blockchain companies throughout the world.

 

Barry Silbert Bio And Background

Barry Silbert’s LinkedIn profile states that he graduated from the Goizueta Business School of Emory University in 1998 with BBA in Finance. Silbert would then go on to serve as Associate at Houlihan Lokey from August 1998 to January 2004.

Between January 2004 and September 2008, Silbert served as Chief Executive Officer at Restricted Stock Partners.

Silbert’s profile on CoinDesk states that he founded company SecondMarket in 2004. He served as the company’s Chairman & CEO until June 2014 and Chairman until October 2015, according to his LinkedIn profile.

SecondMarket was intended to facilitate pre-IPO (initial public offering) trading of shares of a number of companies, including Facebook, The Wall Street Journal writes. In October 2015, Nasdaq acquired SecondMarket.

At SecondMarket, Silbert created the Bitcoin Investment Trust – the first investment vehicle of its kind in the US, according to CoinDesk. SecondMarket seeded the trust with a $2 million investment, according to Fortune.

In March 2015, Silbert established Digital Currency Group (DCG) – a company whose mission is to support blockchain and cryptocurrency companies.

According to Silbert’s profile on the DCG website, he bought Bitcoin for the first time in 2012, becoming one of the earliest investors in the cryptocurrency. DCG supports the cryptocurrency and blockchain space by creating, managing, and investing in businesses operating in the industry.

 

Barry Silbert’s Digital Currency Group

The homepage of Digital Currency Group.
Courtesy of DCG.co.

 

Barry Silbert founded Digital Currency Group (DCG) in 2015, less than a week after the acquisition of SecondMarket by Nasdaq. Silbert was the company’s CEO as of June 2, 2021.

TechCrunch writes that DCG funding came from MasterCard, FirstMark Capital, Bain Capital Ventures, and New York Life, among others.

Digital Currency Group calls itself the “epicenter of the Bitcoin and blockchain industry.” DCG’s mission statement on its website reads:

Our mission is to accelerate the development of a better financial system. We build and support bitcoin and blockchain companies by leveraging our insights, network, and access to capital.

The investment portfolio of Digital Currency Group includes over 150 companies in more than 30 countries around the world. The portfolio includes blockchain platforms, exchanges, network infrastructure providers, and other sectors.

Notable companies in DCG’s portfolio include Blockchain.com, Brave (developer of the Brave web browser), Coinbase, CoinDesk, eToro, Genesis, Hedera Hashgraph, Kraken (founded by Jesse Powell), Ledger, Ripple, and ShapeShift (founded by Erik Voorhees).

Digital Currency Group holds a number of digital currencies and tokens as well, including Bitcoin, Ethereum, and Ethereum Classic.

Crypto holdings of Barry Silbert's DCG.
Courtesy of DCG.co.

 

DCG subsidiaries

DCG has three subsidiaries – digital currency prime broker Genesis, crypto news website CoinDesk, and digital asset management platform Grayscale.

Features of the Genesis platform, which is connected to Barry Silbert.
Courtesy of Genesistrading.com.

 

Genesis is described as follows on its website:

Genesis provides institutional investors with an all-in-one solution to put substantial amounts of capital to work. Services include secure, discreet buying and selling, borrowing and lending in large sizes over fixed-terms, custody services to secure assets, and screening to ensure KYC and AML requirements are met.

The homepage of CoinDesk.
Courtesy of CoinDesk.com.

 

CoinDesk was acquired by DCG in January 2016, reportedly for $500,000 to $600,000, according to TechCrunch. CoinDesk was originally launched in 2013, when it raised approximately $2 million from investors. Before its acquisition, CoinDesk had been reportedly trying to sell for months, aiming for $800,000 to $1 million.

The homepage of Grayscale.
Courtesy of Grayscale.com.

 

In February 2021, Bitcoin.com (founded by Roger Ver) reported that Grayscale had surpassed $30 billion in net crypto assets under management (AUM). Of this $30 billion, $24 billion in AUM was in Grayscale Bitcoin Trust, while $5 billion was in the Ethereum Trust.

Earlier, on January 21, 2020, Globe Newswire reported that Grayscale Bitcoin Trust had become the first digital currency investment vehicle to receive the status of an SEC (Securities and Exchange Commission) reporting company.

Bitcoin.com adds that Grayscale had started 2020 with $2 billion in AUM and ended the year with over $20 billion – a 900% increase.

In December 2020, CoinDesk reported that Grayscale had $13 billion in AUM.

Grayscale attributed its AUM growth to an increase of investments from institutional investors, particularly hedge funds.

On April 9, 2021, Grayscale announced on Twitter that its AUM had reached $46.1 billion.

Cointelegraph reported on April 12, 2021, that Grayscale was the largest US-based regulated digital asset manager, followed by Pantera Capital Management ($4 billion in AUM), Bitwise Asset Management ($1 in AUM), Galaxy Digital ($800 million in AUM), and Wave Financial ($500 million in AUM).

On June 1, 2021, Grayscale announced on Twitter that its Ethereum Trust became the second digital currency investment vehicle to attain the status of an SEC reporting company.

 

Barry Silbert Net Worth

As of June 2, 2021, Barry Silbert’s net worth was $1.6 billion, according to the Forbes World’s Billionaires List. Silbert was the 1931st richest person in the world, as well as the 8th richest individual in the cryptocurrency industry.

 

Barry Silbert Online Presence And Publicity

Barry Silbert is present on LinkedIn and Twitter.

Cointelegraph ranked Silbert as the 5th most influential individual in the blockchain industry in 2021. Other notable figures on the list include Binance founder Changpeng “CZ” Zhao, the billionaire Winklevoss Twins, Ethereum co-founder and Polkadot founder Gavin Wood, Kraken founder Jesse Powell, and Uniswap founder Hayden Adams.

In 2011, Fortune featured Barry Silbert in its 40 Under 40 ranking.

Barry Silbert has also been featured by major online publications on a number of occasions, including Forbes, CNBC, Fortune, and Real Vision (founded by Raoul Pal).

In 2019, Silbert debated cryptocurrency critic Peter Schiff as well.

 

 

 

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