Ben Armstrong Net Worth, Crypto and NFT Investments

The net worth of Ben Armstrong is estimated to be around $20 million in 2023. Ben Armstrong is a controversial figure in the crypto space. In 2022, he was involved in several scandals. The most prominent one is his alleged promotion of dubious initial coin offerings.

These controversies cost him his reputation and consequently reduced his followers on social media. Also, the alleged scandals affected the net worth of Ben Armstrong.

Also, as a strong crypto advocate, most of Ben Armstrong’s investments are in virtual assets. With most of his investments locked in virtual assets, the net worth of Ben Armstrong mostly fluctuates based on the prices of crypto assets. He suffered exposure to the collapse of FTX and the free fall of its native token FTT in late 2022.

Against all odds, Ben Armstrong is one of the major crusaders for the advancement of cryptocurrency. Most of his YouTube and social media contents are geared towards helping investors make investment decisions from an informed angle. However, Ben Armstrong has monetized these services, earning most of his fortunes from it. In 2022, he earned about $2.5 million from his YouTube channel.

Ben Armstrong’s Net Worth

Early Life

Ben Armstrong was birthed on October 27, 1982, in the United States. Popularly known as Bitboy Crypto, Armstrong had his basic education in a local school very close to his area of birth. In 2009, he enrolled himself at Toccoa Falls College. Also, he attended Kennesaw State University. Around 2012, Bitboy bagged a Bachelor’s degree in Ministry Leadership. Ben Armstrong has two siblings, identified as Chad and Macie.

Before he kickstarted his YouTube career, Ben Armstrong founded Front Page Tickets in 2011. He learned about Bitcoin in 2012. During that period, he only invested about $50 in BTC. In a testimony, he revealed that his investment in BTC soared overnight, hitting a worth of $2,000.

Between 2015 to 2018, the blogger served as the executive director of Three-Dimensional Life Company. More so, in 2018, he founded High Throughput Production and HIT Network. In the crypto space, Ben Armstrong is mostly seen as a controversial figure. This is due to how some of his comments have generated huge attention and negative reactions.

YouTube

After the bull run of 2017, Ben Armstrong conceived the idea of running a YouTube channel. This led to the eventual creation of Bitboy Crypto YouTube in January 2018. With the channel, Ben Armstrong focused on content relating to cryptocurrency. His content creation earned him huge followers on YouTube, making him one of the early crypto influencers. According to reports, he was able to attract over 1.5 million followers with his content.

https://www.youtube.com/live/6CjnZddtpAA?si=WLdovGl7HV0hVqfl

His contents include news updates, project reviews, trading advice, and discussions of market trends. Further, he often hosts his BitSquad community which allows members to access some of his partnership channels. These channels are BitBoy Bits, Frankie Candles, HIT Network, Around The Blockchain, Blockchain Basement, and NFT Alpha.

He leveraged his huge followers on the channel to generate revenue. It is worth mentioning that his income from the revenue makes a significant part of the net worth of Ben Armstrong. To some extent, one can say that the primary source of income for Ben Armstrong is his YouTube channel. As estimated, Ben Armstrong seems to be earning over $40,000 on a monthly basis. By that, he’s regarded as one of the highest-earning crypto influencers.

Meanwhile, various crypto firms have, over the years, collaborated with Bitboy. They pay or place Ben Armstrong on commission for projecting the name of their brands to the cryptocurrency community. With the system, Bitboy, at times, earns money for referring new users.

However, in recent times, he has been a subject of stern scrutiny over his support for dubious and struggling projects. His reputation in the crypto space suffered a huge damage after some of the projects he promoted/endorsed failed to hit the ground running.

In 2021, his video “Top 3 Coins to $3 million; NFTs Pick to become millionaires” gained massive attention. The video remains one of his contents with the highest viewership as it attracted close to a million viewers.

On June 29, 2021, Ben Armstrong’s YouTube was banned for a short period of time. The move generated a lot of controversies. For Ben Armstrong, he termed it as an unfair crackdown on crypto-related content. After much pressure, YouTube reinstated his account without citing a reason for the initial ban.

In 2022, he was involved in various scandals that inflicted huge damage on his reputation. Then, he was indicted for insider trading, promoting fraudulent initial coin offerings (ICOs), and circulating misinformation about numerous coins. The controversies cost him a significant portion of his followers who stopped following him as doubts increased over his credibility. Critics faulted Ben Armstrong for not having enough transparency regarding his promotion for some projects.

Bitcoin and Beards

Outside his active status on YouTube as an influencer, Ben Armstrong is also famous for appearing on various podcasts. His first appearance on a podcast came in September 2015. He launched the Bitcoin and Beards platform in 2018 alongside JChains. The duo met during a crypto conference in Chicago. Then, he joked with JChains about the possibility of launching the podcast. Two weeks later, they hosted the first episode of the podcast.

On the show, the duo usually refer to themselves as “just two dudes with nice beards and a love for Bitcoin and the crypto community.” Ben Armstrong alongside his partner provided insights about Bitcoin. On various episodes, they invited top personalities in the industry to illuminate varied ideas and advice regarding trending issues in the crypto industry. In the past, Bitcoin and Beards have hosted Binance CEO Changpeng Zhao, HEX founder Richard Hart, Peter McCormack, and other notable personalities.

Aside from that, Ben Armstrong and JChainy usually discuss situations in the crypto industry on the show. They offer advice on the next big thing to watch out for in the industry. The duo also engage in project and token reviews. It is worth mentioning that the program often airs weekly on its official site, thereby serving as a source of revenue for Ben Armstrong.

On numerous occasions, business executives in the crypto space pay to appear on an episode of the podcast. They leverage their presence on the podcast to showcase their projects with the intention of attracting more users. Generally, on every podcast featuring Ben Armstrong, the influencer often charge $20,000 to mention or promote a brand.

Bitboy Crypto Project

At the height of the success of his YouTube channel, Ben Armstrong launched a news website known as Bitboycrypto.com. According to findings, the platform reports exclusive stories regarding cryptocurrency. Likewise, it offers various perspectives on the advancing world of crypto. The news platform also provides content like reviews on wallets and projects, price analysis, and price updates.

Notably, the platform focuses on educating crypto enthusiasts so as to guide them through their investment endeavors in the industry. Through BitboyCrypto.com, Ben Armstrong has been able to push for the advancement of cryptocurrency through proper education.

Additionally, the platform offers weekly email updates, promotions, crypto trading advice, and exclusive crypto contents. Over the years, the news platform proved to be a valuable source of information on emerging trends and developments in the cryptocurrency industry.

Recently, the platform collaborated CoinLedger. The firm provides various services to aid crypto investors in managing their assets. Also, it provides IRS-compliant outputs, stand-by customer support, and a comprehensive knowledge base. Recently, Ben Armstrong also partnered with a crypto-betting platform known as Stake.Com.

Aside from his heavy presence on YouTube, Bitboy Crypto has a huge fanbase on other social media platforms. As of May 25, 2023, his Twitter account has one million followers. His Twitter account is next to his YouTube page in terms of his social media handle with the largest followers. He uses the platform to promote his media; BitboyCrypto.com. Similarly, he uses the platform to promote his news feature and interview. Among all his Social media accounts, Ben Armstrong uses his Twitter account the most to interact with his fans.

Meanwhile, the company behind Bitboy Crypto on August 28, 2023, announced that Ben Armstrong had left the brand. BJ Investment Holdings, the sponsor of the Hit Network revealed that it dissociated from Armstrong to enable him to recover from his obsession with substance abuse. The company added that his absence will also help the Bitboy crypto community recover from the damages he inflicted on the brand.

Yesterday, BJ Investment Holdings, the parent company of Hit network, took decisive legal action in removing Ben Armstrong from the company, and specifically the Bitboy Crypto brand. https://t.co/e0kYLKUZ4r

— Bitboy Crypto (@Bitboy_Crypto) August 28, 2023

On September 25, 2023, Ben Armstrong was arrested after a confrontation with his former business partner over his expulsion from Bitboy Crypto. The arrest took place in the late hours of the day according to records from the Gwinnett County Sheriff’s Department. As revealed, Ben Armstrong was arrested for “loitering” and for “simple assault” by placing another in fear.

A live stream short video revealed that the crypto YouTube influencer traveled with a riffle at the back of his car on his way to confront his former business partner. Meanwhile, shortly after the news of his arrest hit the media space, the BEN token dipped by 30%. Later, he was released on bail.

Nevertheless, Armstrong is still active on TikTok. On the platform, he has amassed 17.5k followers with 181.1k likes as of May 25, 2023. He discusses trending issues, popular culture, and general knowledge about cryptocurrency. However, there’s another account (factceo) popularly claimed to be operated by Ben Armstrong.

However, there is no direct connection between him and the Tiktok account yet. Further, the account doesn’t seem to portray the personality of Ben Armstrong as it only contains content about investors, theories, and notable comments about trending news stories across the globe.

https://youtu.be/9PAvppqOyOw?si=GZHqLSQuQPQw2S_9

As of May 25, 2023, Ben Armstrong has 489k followers on his Instagram page. Like most of his social media accounts, his Instagram page offers the same content relating to cryptocurrency.

Publication

In early 2023, Ben Armstrong published “Catching Up to Crypto: Your Guide to Bitcoin and the New Digital Economy.” He described the book as “a fund and authoritative guide to Bitcoin and the Future of Money.” In the book, Ben Armstrong provided a new exploration of the basis of Bitcoin and virtual assets. He illuminated how Bitcoin works, what it is all about, and why it has been attracting huge attention and investors of late.

He went on to establish the history of Bitcoin and the various challenges that almost pushed it into extinction. Ben Armstrong as well explained the catalysts driving Bitcoin into global recognition. Furthermore, he addressed the shortcomings of fiats and how it is been manipulated by central banks and governments. Bitboy explained how people can utilize the benefits of virtual assets to hedge the shortcomings of fiats. Ben Armstrong equipped the book with knowledge about decentralization, blockchain, and cryptographic consensus.

His second book “Catching up to FTX” is billed for release by November 2023. Meanwhile, his writing expertise didn’t fetch him much revenue and it has few contributions to his net worth.

Ongoing Lawsuit against Ben Armstrong

Ben Armstrong is among the notable celebrities facing a class action lawsuit for allegedly promoting FTX. Recall that the exchange which was launched in 2019 overwhelmed the market with its high-profile endorsements, huge marketing budgets and promises of mouthwatering returns to investors.

With these, it was able to lure a large number of investors across the globe into its business. However, in late 2022, a leaked balance sheet showed that executives of the exchange diverted customers’ funds into accounts in Alameda Research. It is worth mentioning that both FTX and Alameda Research were founded by Sam Bankman-Fried.

Things began to fall apart for FTX after this revelation dominated the air space. Within just a few days, the contagion of the collapse spread across the industry, particularly in firms with financial exposure to the exchange. According to our findings, users and investors lost over $6 billion to the crash, thereby heightening investigations and probes of executives and other persons connected to FTX.

As one of the alleged promoters of the troubled exchange, Ben Armstrong was named in the lawsuit. The lawsuit was filed at the U.S. District Court for the Southern District of Florida by investors who were affected by the collapse.

Although Armstrong denied having any connection with FTX, lawyers have continued to share video evidence showing how he promoted FTT, the native token of FTX to his large number of followers. He was also alleged to have said everything Bankman-Fried “touches turns to gold.” Despite the evidence tendered, the popular YouTube personality had pleaded not guilty to the allegation.

Amid the ongoing legal battle, Armstrong allegedly conveyed demeaning words to one of the plaintiffs’ lawyers, Adam Moskowitz. In some of his Twitter posts, he derided Moskowitz as “shorter than the average American male” and “an ambulance chasing douche bag.”

In one of the hearings in April, the court frowned at Armstrong’s demeaning statements to Moskowitz. Consequently, he was banned from tweeting negative statements about the lawyer and the lawsuit. He was also ordered to appear in person before the court over his demeaning words to Moskowitz.

Surprisingly, the influential Youtuber chose not to appear in Court and instead mocked the directive on Twitter. He said he skipped the court appearance because “I don’t give AF.” Following his absence, the judge threatened to issue a warrant for his arrest.

Investment Portfolio

Ben Armstrong’s investment outside the crypto space is largely unknown. However, as a crypto enthusiast, He invested in crypto such as BTC, ETH ADA, MATIC, BNB, XRP, DOT, SOL, and many others.

Is Ben Armstrong Pro Crypto?

Ben Armstrong is one of the active supporters of cryptocurrency. His first exposure to crypto was in 2012. Since that time, he has shown appreciable commitment to advancing crypto education and adoption. Armstrong sees education as one of the most critical strategies to foster widespread crypto adoption.

Driven by this commitment, the popular Youtuber dedicated himself to educating and informing the crypto community about the trends in the industry. He leveraged the large number of followers on his Youtube channel to share insights about the potential of cryptocurrency, particularly in the evolving financial arena.

Over the years, Armstrong earned a reputation for himself as one of the respected experts and analysts in the industry. Today, a large number of people look up to his opinions, recommendations and insights on issues unfolding in the crypto market. He believes the existing traditional banking system is dead with the emergence of crypto.

At a time, Armstrong advised investors to still invest in ICOs despite the numerous regulatory bans of the offering. He is always confident that ICOs, otherwise known as Initial Coin Offerings are here to stay. Recently, the popular Youtuber conveyed several conditions for investors to look out for before investing in ICOs.

One of the conditions he highlighted is unreadable whitepapers. Armstrong described that ICOs with unreadable whitepaper is a red flag for investors. According to him, long and complicated whitepapers might appear credible, they usually fail to achieve their objectives. So, Ben is advising investors to patronize ICOs that don’t beat around the bush.

He also advised investors to run away from coins with no real world use cases. Armstrong said; “I notice investors working with tokens just because they want to invest in an ICO. You can easily replace that token with Bitcoin or Ethereum, and your strategy would still work. That means there’s no real use for the token. If you want to play safe, stay away from tokens that don’t provide much value and fail to showcase any real-world use cases.”

Armstrong also believes investors must always take a holistic view of the team members of an ICO before investing in it. He noted since blockchain projects are very delicate, it requires a team of professionals to thrive.

So, he believes if an ICO does not have professionals in its team or the members of the team are not revealed, investors may have to stay away from it. Other red flags he mentioned are aggressive marketing and complicated deal terms.

Apart from offering insights to investors and educating the community about crypto trends, Armstrong has participated in the launch of a token, $BEN. In his May 8 Twitter post, he announced the launch of the token, emphasizing its vital features. The launched meme coin, $BEN is currently the governance token of Bitboy’s decentralized autonomous community, Ben DAO.

Guys $BEN is live. People all want to invest in themselves and now Bens can do that.

The facts:
– The coin has my name
– We have a Ben DAO on telegram
– Bens are better than Jeffs so we should easily take over JeffCoin as the number one name on the blockchain

— Ben Armstrong (@Bitboy_Crypto) May 8, 2023

At first, people thought Armstrong was the developer of the crypto. But, he later clarified that it was launched by one ben.eth on Twitter. According to a source; Armstrong said “people think I launched the token. I had nothing to do with the creation.

The creator, founder, & LP holder is ben.eth on Twitter. This coin was spurred out of a telegram group consisting of only people named Ben. There are several high profile Bens in there like Ben Goertzel, Ben Lakeoff, Ben Noble and other respected Bens in the space.”

However, he announced that he would be joining the team that developed the token. Since its launch in early May 2023, $BEN has witnessed unstable price performance. As of the time of writing, it trades on Uniswap and boasts of over $2 million worth of liquidity.

Armstrong is also notable for giving tips to investors on how to keep a strong crypto portfolio. He believes the risks associated with leasing crypto assets are minimal to small-cap assets. So, he usually advises investors to consider exposing themselves to top assets because their returns are high.

At a time, Armstrong advised investors not to keep more than 20 crypto assets in their portfolio. He also said; “for a portfolio with $10,000 or less, I strongly suggest having between 5 and 8 coins maximum. The reason is simple, if you have $1,000 and 100 coins you will not be able to make massive profits.”

Without any doubt, Ben Armstrong has proven to be one of the biggest names in today’s crypto space. Although his views about crypto projects, particularly on his YouTube channel have, over time, been greeted with controversies.

This is because some of the projects he had promoted in the past turned out as scams. However, we cannot rule out the fact that he has played a huge role in fostering crypto education, particularly through his YouTube content.

Just recently, he reacted to Andrew Tate’s harsh comment about crypto and NFTs. In Crypto Cross Fire livestream show, Armstrong argued that Tate’s comment would not cause any harm to the industry but draw more attention to it. He went on to establish how Tate has a vast amount of followers across top social media platforms. With this, he believes the comments from the popular kickboxer only indicates that the virtual assets industry is attracting the attention of top personalities.

Andrew Tate DESTROYS Web3!!! (NFTS are Dead) https://t.co/fUZ1YH3yRh

— BitBoy (@BenArmstrongsX) October 26, 2023

Nonetheless, the crypto YouTube influencer admitted that the NFT market is presently experiencing a bearish state. He stressed that considering how Tate has managed to make money in recent times, investors can take inspiration from his comments. However, Ben Armstrong didn’t admit that crypto and NFTs are entirely bad. Rather, he said Tate’s comments are pointers that the NFTs market is currently enduring a dip.

Crypto and NFT Holdings of Ben Armstrong

Ben Armstrong has been investing in crypto since its early days. According to our findings, his first investment in crypto was in 2012 when he bought Bitcoin. At that time, BTC traded around $13. Till this moment, Armstrong is yet to publicly announce the amount of Bitcoin he bought at that time, but credible sources say the influential YouTuber bought a significant amount of the token and kept it on Mt.Gox.

However, he suffered a huge setback in his investment after the exchange suffered a devastating hack on its network. It lost over 850,000 Bitcoins, amounting to 7% of the entire Bitcoin at that time. Certainly, Armstrong lost his investment to the incident.

As a strong proponent of crypto, Armstrong was undeterred by the development. He continued to invest and holds several crypto assets in his personal portfolio till this moment. In 2021, he posted a disclosure video of his personal crypto portfolio on YouTube. Our check on the portfolio shows that the YouTuber’s crypto investment is dominated by Bitcoin.

The largest crypto by market cap makes up 30% of his holdings. Being an early investor in the token, Ben Armstrong must have gained massively from the aggressive rise in the price of Bitcoin from 2012 till this time, thereby contributing to his net worth. Also, based on his significant investment in the token, it won’t be surprising if he makes the next list of famous Bitcoin investors across the globe.

Apart from Bitcoin, Ben Armstrong also holds other crypto assets like Ethereum, Cardano, Aave, Graph, Chainlink, Ethernity Chain, Synthetix, Uniswap, Cosmos, Compound, Elrond, VeChain, Solana, Tezos, $BEN, Frontier. According to the disclosure, Ethereum and Cardano are his second-highest crypto holdings.

While Ethereum makes up 22% of his personal crypto investment, Cardano constitutes 10.92%. Over the years, he described the duo as very important assets for a balanced crypto portfolio. Armstrong also holds a huge amount of $BEN, but there are reports indicating that he has sold the assets.

At the moment, there are no indications that Ben Armstrong holds NFT in his personal portfolio.

Crypto Projects Featuring Ben Armstrong

We can link $Ben, a memecoin that was launched in May, 2023 to Ben Armstrong. At the moment, the asset is the governance token of Bitboy’s decentralized autonomous community, Ben DAO.

According to sources, Armstrong is not the developer of the crypto, but he has joined its team. It was reportedly developed by an obscure personality, identified as Ben dot Eth on Twitter. Credible sources are claiming that the fellow had sold the token project to Armstrong.

In mid-May, Bitboy vowed not to sell his $BEN holdings, stressing that he would hold the assets for at least six months. But, a few days after making the pledge, he sold the tokens. This thus birthed controversies for Armstrong, with many claiming he might have engaged in a “pump and dump” strategy for $BEN.

Bitboy sold all of his $BEN tokens that he committed to not selling them for 6 months❗️

Bitboy’s address which he doxxed it by himself:
0xf89e0b9fb3F419d5982386B5923e2F7C2e73f3a2 https://t.co/GVvrAeVnJ5 pic.twitter.com/OcoKQaKKzH

— Amir Ormu ??? (@AmirOrmu) May 17, 2023

Ben Armstrong’s prominence in the crypto space cannot be downplayed. His reputation has attracted numerous crypto projects to feature him. He will soon feature in Wall Street Memes soon. Since the presale of $WSM which took place in May 2023, the token has been the talk of the cryptocurrency industry.

Consequently, many crypto enthusiasts have tipped $WSM to be the next cryptocurrency to make huge returns over the course of the year. The reason behind this massive attention isn’t far-fetched. Few days into the presale of $WSM, the token recorded a massive sale worth over $1 million.

This landmark stride has placed $WSM among the tokens to have enjoyed one of the best crypto presales. Meanwhile, the community behind the project has played a vital role towards its success. The community is proving on a daily basis that it’s beyond a mere meme community.

As of June, 2023, Wall Street Memes has over 500k members across top social media platforms like Twitter and Instagram. Visit wallstmemes.com to join the League of Investors to explore the benefits of $WSM. 

Ben Armstrong’s Net Worth – Our Verdict

Despite the controversies surrounding the personality of Ben Armstrong, he has established himself as a top crypto enthusiast and evangelist. Over the years, he leveraged his YouTube channel to educate the crypto community about the potential of the innovation. However, Ben Armstrong has monetized these services, earning a huge part of his net worth from it. In 2022, he earned about $2.5 million from his YouTube channel.

Also, as a strong crypto advocate, most of Ben Armstrong’s investments are in virtual assets. Occasioned by this development, his net worth fluctuates based on the performance of crypto assets.

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