Cryptocurrency trading is associated with significant volatility and risks, and has created a new class of millionaires and billionaires through strategic investments. While their success stories dominate headlines, the way they utilize their digital assets reveals a spectrum of ambition, luxury, and peculiarity.
From lavish art purchases that defy logic to massive investments in cars and real estate, they are redefining the meaning of spending big money. Let's look at how cryptocurrency millionaires have used their digital cash.
Justin Sun
TRON founder Justin Sun has attracted global attention multiple times through high-profile acquisitions. In November 2024, Sun spent $6.2 million on a banana.
Specifically, a banana taped to a wall. He purchased the artwork 'Comedian' by Italian artist Maurizio Cattelan at a New York Sotheby's auction.
The banana, originally purchased for 35 cents from 74-year-old Bangladeshi immigrant Shah Alam, who works near Sotheby's, dramatically increased in value through Cattelan's conceptual art.
According to Forbes, with a net worth of $8.5 billion, Sun did more than just buy the piece. He ate the banana at a press conference in Hong Kong.
"Many friends asked about the taste of the banana. Honestly, a banana with such a background is naturally different from an ordinary banana," Sun wrote on X.
Moreover, in March 2021, he purchased Beeple's Non-Fungible Token for $6 million. In November of the same year, Sun bought Alberto Giacometti's sculpture 'Le Nez' at Sotheby's for $78 million.
However, this acquisition became entangled in a heated legal dispute. In February 2025, Sun filed a lawsuit against media mogul David Geffen, claiming his former employee sold the sculpture to Geffen for $65.5 million without consent. Meanwhile, in April 2025, Geffen's counterclaim denounced Sun's allegations as "fake" related to cryptocurrency market issues.
Sun's spending is not limited to art. In December 2021, he won the bidding for the first space flight seat of Blue Origin, owned by Jeff Bezos, for $28 million. Although he won the bid that benefited space-related charities, he could not participate in the launch due to scheduling conflicts.
Carl Runefelt (Carl Moon)
Carl Runefelt is a Swedish cryptocurrency investor and social media influencer widely known by his online alias Carl Moon. He grew from a supermarket cashier to a cryptocurrency influencer in Dubai.
Runefelt publicly documents his millionaire cryptocurrency lifestyle, sharing with 1.5 million followers on X, about 245,000 on Instagram, and 360,000 on YouTube. His social media is filled with luxury, hypercars, private jets, and high-end watches, establishing himself as a quintessential "crypto bro" lifestyle icon.
One of his notable purchases is a Bugatti Veyron bought for $2 million.
"I quit my supermarket job as a cashier in November 2018. Now, three years later, I'm driving a Bugatti Veyron in Dubai. What car should I buy next?" Runefelt wrote in a 2022 Instagram post.
In January 2024, Runefelt added a $300,000 G-Wagen to his car collection. In September of the same year, he purchased a Ferrari for $800,000. Additionally, in February 2025, he bought four more Ferraris for $4 million.
Runefelt also owns a custom $1 million Jacob & Co watch and a $140,000 Patek Philippe Nautilus. These purchases reflect his wealthy lifestyle due to cryptocurrency success and are part of a strategy to inspire followers through visible wealth.
Ed Craven
Ed Craven is an Australian billionaire and co-founder of Stake.com. Stake.com is a cryptocurrency-based online casino, and Kick is a live streaming platform. His net worth is primarily from Stake's success at $2.4 billion.
Started in 2017 with Bijan Tehrani, the platform is now one of the world's largest offshore cryptocurrency casinos. Notably, in 2025, Craven made Forbes' list of youngest billionaires. He is one of two self-made billionaires under 30.
Craven has used his cryptocurrency wealth for both flashy and wise purchases. He owns one of the most expensive houses in Australia, purchasing a property on Saint George Road, Toorak for $80 million. He also bought a $38.5 million property on Orrong Road and owns multi-million dollar houses in Southbank and Mount Macedon.
Craven's expenditure extends to the sports sector. He invested $100 million to rename the Alpha Romeo Formula One team to "Stake F1 Team Kick Sauber".
While real estate dominates his portfolio, his sports investments highlight the strategic use of wealth to enhance personal and corporate reputation, aligning with his entrepreneurial vision.
