Bitboy Crypto Net Worth (2024 Updated)

INTRODUCTION

Bitboy’s net worth is estimated to be at least $130,000. Also known by his real name Ben Armstrong, Bitboy’s peak known crypto net worth could have been approximately $7.08 million in February 2022. However, these numbers are derived exclusively from his cryptocurrency holdings and don’t include any privately held equity in companies he founded or has worked with. It also doesn't include any debts he may have, which could make his net worth negative.

His precise net worth is unknown, however, as of late January 2024, Bitboy announced that he will stop streaming due to financial issues & his $100K/month legal bills, suggesting he is likely no longer as wealthy as he previously was.

This article will examine Ben Armstrong’s net worth and known crypto holdings, and how they have changed over time. Additionally, it will delve into Armstrong's sources of income and non-cryptocurrency assets, providing an overview of the assets that make up his wealth.

SUMMARY

• Ben Armstrong’s estimated net worth is at least $130,000. It is likely to differ from this number, as we don't have public knowledge of all of his non-crypto assets and liabilities.
• Armstrong, also known as Bitboy Crypto, is the founder of the Bitboy Crypto YouTube channel - which he left in 2023. He generated his wealth through holding crypto, sponsorships, promotions & merchandising through his prominent media presence.
• Armstrong’s non-crypto holdings include his equity stake in the companies he founded in the cryptocurrency space, including HIT Network and High Throughput Productions.

BEN ARMSTRONG (BITBOY CRYPTO)'S FORTUNE

Ben Armstrong is a crypto influencer who founded the popular YouTube channel BitBoy Crypto, with 1.5 million followers as of the time of writing. His successes on YouTube opened up several different income streams for him - and he is known to have monetized his channel through sponsorships, affiliate marketing and merchandising sales. 

Additionally, he is the Founder of HIT Network and Throughput Productions and (had) majority ownership in BIJ Holdings, the parent organization of those two entities. Following a dispute with his team, he left the BitBoy Crypto channel and started a new one under his name, Ben Armstrong. Armstrong additionally took control of the operations of the memecoin BEN from its developer. In 2021, Armstrong said that his crypto portfolio was worth $10 million.

Armstrong says he made his first cryptocurrency investment, putting $5,000 into Bitcoin via BitInstant, a platform that facilitates Bitcoin purchases. He then lost this investment in the 2014 Mt. Gox hack, as BitInstant transferred some of its Bitcoin purchases to this exchange. However, he remained a crypto enthusiast and co-hosted the “Beards and Bitcoin” podcast with JCHains in 2018 - his first steps on his path to becoming a crypto influencer. 

That same year, Armstrong launched his YouTube channel BitBoy Crypto. His early YouTube content revolved around simple explanations of concepts in the crypto space and grew to 700,000 subscribers around 2021/2022. Owing to the success of his channel, Ben rose to fame and became known more widely as BitBoy in the crypto space - a term by which most people in the crypto community still refer to him (though he's no longer a part of the BitBoy Crypto YouTube channel).

In 2018, Bitboy founded HIT Network and High Throughput Productions. HIT Network is a creator-driven media network of various brands that provides entertainment and education around multiple topics, including cryptocurrency. The BitBoy Crypto brand falls under HIT Network's umbrella and has become its most prominent brand. High Throughput Productions creates digital content regarding cryptocurrency for its audience. In 2021, TJ Shedd Jr., HIT Network’s CEO and Armstrong’s business partner, registered BJ Investment Holdings. BJH then became the parent company of Hit Network, which included the BitBoy Crypto brand.

In August 2023, Armstrong was removed from HIT Network and BitBoy Crypto, following allegations of substance abuse and other internal disputes. The BitBoy Crypto channel was then renamed to Discover Crypto. Subsequently, Armstrong filed a lawsuit against his former colleagues, including TJ Shedd Jr., contesting his involuntary departure. The lawsuit claims that Armstrong’s fully-owned corporate entity, Better Than TJ LLC, controls 67% of the shares in BJH & that BJH was stolen from him. Armstrong also sought the return of his control over BJ Investment Holdings’ assets, notably a Lamborghini he claimed as his possession. The dispute is still ongoing at the time of writing.

Following the legal dispute, Armstrong asked his followers for donations to support his legal battle. Armstrong claimed he was facing financial difficulties and requested donations in cryptocurrencies. He received over $90,000 to his Ethereum wallet and over $91,000 to his Bitcoin address.

After his removal, Armstrong rebranded his media presence from Bitboy Crypto and launched a new channel under his real name, Ben Armstrong. This channel currently features 133 videos and has 88,000 subscribers. In January 2024 however, he announced he would stop this - citing unsustainable costs from legal bills.

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BITBOY’S EARLY LIFE

Ben Armstrong was born on the 27th of October 1982 in Atlanta, Georgia - making him 42 years old as of this writing. According to his LinkedIn, he attended Tocoa Falls College and Kennesaw State University. Before his involvement in cryptocurrency, Armstrong worked as an executive director at Three Dimensional Life, an institution dedicated to addressing drug addiction in teenagers. He also ventured into entrepreneurship, establishing Front Page Ticket, a ticket reselling company, and Ben Armstrong Design, a web design company.

BEN ARMSTRONG NET WORTH - HOW WEALTHY IS BITBOY CRYPTO?

BitBoy Crypto's net worth is at least $130K, based on his known crypto holdings. Other sources put Bitboy's net worth in the wide range of $8-30 million. However, these appear to be based on nothing but Bitboy’s public claims.

In late 2023 BitBoy claimed he'd been experiencing financial difficulties since his removal from HIT Network and asked his followers for donations This corroborates a low estimation of his liquid net worth. Armstrong may have moved portions of his wealth into illiquid assets (like his previously owned Lamborghini or a home) which would be difficult to estimate the value of.

We also know that Ben Armstrong is undergoing divorce proceedings, which are likely to be costly. As Armstrong has stated himself, the ongoing costs from his personal and business disputes appear to have exhausted his crypto wealth.

HOW MUCH CRYPTO DOES BITBOY OWN?

Bitboy is confirmed to hold around $70K of crypto. This number is constantly fluctuating & may not account for all of his wallets - stay up to date on his current estimated net worth by tracking his profile on Arkham.

His largest holdings are CLY and VIRTUAL, which total around $41K and represent 30% of his portfolio.

We can see these holdings on Arkham under Armstrong’s profile page, as well as how they’ve changed over time:

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BITBOY CRYPTO - UNDISCLOSED WALLETS

In a 2021 video, Armstrong claimed he had a $10 million crypto portfolio. The highest recorded value of his known wallet balance was $1.5 million in 2021. This means he either exaggerated the size of his portfolio or has other unidentified wallets.

Arkham's AI entity prediction feature tags a number of wallets which frequently interact with his known wallets as likely belonging to Bitboy himself.

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These wallets hold in excess of $20K. Of these wallets however, a handful are deposit wallets which have received almost $1.8M. This may indicate that Armstrong has sold these assets for fiat. Even with the addition of these wallets, the combined recorded balance of Bitboy's holdings at peak would have been $7M, short of the $10M he claimed he had in 2021.

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BITBOY CRYPTO'S HISTORICAL NET WORTH

The Arkham Portfolio Archive shows the changes in any labelled entity's crypto holdings over time. This table records Bitboy’s known holdings on 31st December of each year, as well as February 17th, 2022, when his holdings were at their highest. It includes these AI-predicted wallets.

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It is worth noting that the changes in his total holdings may either represent an organic fluctuation of his portfolio and/or him cashing out his holdings from crypto to fiat through his deposit addresses.

NOTABLE CRYPTO HOLDINGS

Bitboy's largest ever (unconfirmed) crypto holding was USDC in 2022 - which was valued at >$5.6M.

He was also involved with the memecoin $BEN - a ticker which is listed on his X profile. Bitboy reportedly sold a large amount of $BEN holdings for $82K, 1 week after pledging not to sell the coin for a further 6 months, for which he received heavy criticism. His identified wallets do not currently hold any BEN.

Given Bitboy has been in the crypto world for several years, he's used his experience, as well as his prominence as a cryptocurrency influencer to promote a number of tokens in exchange for sponsorship. One of these includes BITT, the token of Bitswap DEX, of which his holdings were valued at $134K in late 2022.

VESTING TOKENS

On-chain data shows that Bitboy Crypto has approximately $60K of Coinweb vesting. This suggests he's involved with the company as an investor or in an advisory/promotional capacity. This brings his identified crypto holdings up to $130K.

BITBOY CRYPTO'S INCOME STREAMS

Armstrong has monetized his online persona as a cryptocurrency influencer in a number of ways.

Data from Social Blade suggest that his monthly earnings from his new YouTube channel would be anywhere from $450 and $7,100 through ad revenue.

It is common for crypto influencers to use their persona to promote certain projects to the crypto community through paid sponsorships - Bitboy is no exception. When he ran his YouTube channel Bitboy Crypto, he provided promotional services to crypto projects. These services ranged from $2,500 per website article, to $35,000 for a dedicated review. Additionally, Armstrong charged $20,000 for project mentions during live streams and $40,000 for a YouTube interview

Before his removal from HIT Network, Armstrong authored "Catching Up to Crypto: Your Guide to Bitcoin and the New Digital Economy" published in 2023. He also used to sell merchandise like t-shirts and mugs on HIT Network’s website, though these items have since been removed.

Bitboy claims to have an ongoing sponsorship deal with the crypto betting platform Stake for an undisclosed amount, and also runs a Substack with 2000 subscribers across 3 different subscription tiers - Annual at $450/year, Monthly at $40/month, and Founding Member at $1440/year. He also regularly shares affiliate links on his YouTube channel.

BITBOY NON-CRYPTO ASSETS

Bitboy Crypto's equity stakes in the companies he founded, such as HIT Network and High Throughput Productions, would comprise a portion of Armstrong's net worth. He claimed in 2022 that the combined value of BitBoy Crypto and HIT Network was roughly $33 million. Given recent legal proceedings, the value of these entities is likely now near zero.

Notably, one of Bitboy's assets is his Lamborghini, which he claims to have purchased with earnings from cryptocurrency investing. The ownership of the Lamborghini is a point of contention in his lawsuit against his former colleagues.

CONCLUSION

Using the total estimates of Bitboy's known crypto and non-crypto holdings, his known net worth can be approximated to be at least $130,000. Given the available data, and the lack of evidence for prevailing estimates in the 7 to 8 figures, we believe that Bitboy’s net worth is likely far lower than other sources report. While he appears to have been worth millions at one point, this is likely no longer the case.

Using Arkham, we can track how wealthy prominent crypto entrepreneurs and traders might be by looking at the on-chain data regarding their holdings and likely destinations for their wealth.

This is part of Arkham’s series on prominent individuals in the cryptocurrency space. We’re covering a range of crypto entrepreneurs, traders, and influencers - looking into how they acquired their fortune & how much crypto they currently own. Arkham lets you see into the crypto portfolio of any entity tagged on our platform, including which tokens they hold & how much their portfolio is worth. Track Ben Armstrong on Arkham here.