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Crypto

As bitcoin soars people ask who is Giancarlo Devasini, Italy's richest man?

Bitcoin is back in the spotlight after a week-long rally pushed the cryptocurrency above $79,000, with gains of more than 20% in just a few days.

Euronews.com

Publisher

Aug 24, 2026 at 2:10 PM UTC · 4 min de lecture

As bitcoin soars people ask who is Giancarlo Devasini, Italy's richest man?
Image via Euronews.com

Entities

bitcoin

Market Impact

BTC+2.69%$79,210

Last Updated

il y a une heure

Traduction…

Bitcoin is back in the spotlight after a week-long rally pushed the cryptocurrency above $79,000, with gains of more than 20% in just a few days.

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The rally has been driven by fresh flows into spot Bitcoin ETFs, expectations of greater liquidity in the United States, a more favourable climate for cryptocurrencies in Washington and a squeeze on traders betting against Bitcoin.

But there is a distinctly Italian twist to the story. While Bitcoin returns to centre stage, Italy's richest man is someone who built his fortune at the heart of the crypto economy.

At 62, Giancarlo Devasini, chairman of Tether — the company behind USDT, the world's largest stablecoin — has amassed a fortune estimated by Forbes at $89.3 billion, making him the world's 23rd-richest person.

His fortune is almost twice the $48.8 billion attributed to Italian businessman Giovanni Ferrero and also well ahead of Andrea Pignataro, whose wealth is estimated at $42.6 billion. It is the first time since 2007 that an Italian other than a member of the Ferrero family has occupied the top spot.

He didn't get rich by buying Bitcoin

To say that Devasini made his money "with Bitcoin" is striking, but not entirely accurate. His wealth was built through the broader crypto economy, above all through Tether and the ecosystem that has developed around cryptocurrencies.

Market Context

Bitcoin

BTC

$79,210

+2.69% (24H)

Market Cap

$1.59T

24H Volume

$40.6B

24H High

$79,979

View Bitcoin Market Page

Article Intelligence

Key Entities

bitcoin

Topics

crypto

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