Many people know Trace Mayer because of his early involvement with cryptocurrency and for beginning the Proof of Keys campaign. Mayer is an accountant and lawyer, but he has focused on Austrian economics and has promoted Bitcoin as a way for nations to become independent from banks since the Bitcoin market was worth just $2 million in 2010. Thanks to his investments in Kraken, BitPay, Armory, and NYDIG, he is now recognized as a major contributor to the growth of blockchain. Through the Bitcoin Knowledge Podcast, Mayer informs people around the world about the capabilities of crypto. The majority of his wealth, which some say is in the tens to hundreds of millions, comes from buying Bitcoin when it was worth mere cents. This article looks into the Proof of Keys project, Mayer’s finances, and crypto assets as of May 2025.
The concept of Proof of Keys promotes the idea of being financially independent.
Mayer is perhaps best known for launching the Proof of Keys event in 2018 to help others gain control over their money. Every year on the third of January, BTC holders are motivated to transfer their coins to private wallets so that they can secure their private keys. Mayer named these supporters the ‘last hope’ after they remained devoted to Bitcoin during its slides, and he saw it as an opportunity for them to show ownership, as quoted in an interview with HackerNoon in 2019. When the movement happens, people find out if the market is reliable, as it did so during the HitBTC freeze withdrawal case, mentioned by Coin Rivet in their report. Mayer told Forbes in 2020, “Big batches of Bitcoin with third parties go against the principle of blockchain decentralization.” In the 2019 What Bitcoin Did episode, he outlined that Proof of Keys strengthens Bitcoin by encouraging people to manage their own cryptocurrency.
People are discussing the idea of the initiative. Those who back Mayer believe he has strengthened Bitcoin’s principles, while those on r/btc in 2017 say he has encouraged risky behavior. Mayer made it clear on a 2019 Stephan Livera podcast that his goal was to help individuals protect themselves from massive hacks and actions of financial institutions, like the ones affecting Mt. Gox (which lost $250 million) and QuadrigaCX. Even by 2025, Proof of Keys is still a call to action, and Mayer’s online resources at proofofkeys.com instruct users on using secure wallets, as mentioned on his website.
Investments and holdings in the world of cryptocurrency;
According to The Investor’s Podcast in 2019, Mayer started investing in Bitcoin for only 25 cents in 2010. Among his first ventures were providing funds for Armory to boost wallet safety and for both BitPay, Kraken, and NYDIG, helping them expand and gain value, reported tracemayer.net. According to his website post from 2015, the speculation, merchant, consumer, security, developer, financialization, and settlement currency helped him significantly increase his influence and wealth. By supporting Custodia Bank in 2021, critiquing Operation Chokepoint 2.0 and establishing Urim Capital for both crypto and real estate activities in 2022, Mayer has consistently held his commitments, as per tracemayer.net.
Even though Mayer’s holdings of Bitcoin are not public, his belief in HODLing implies that he possesses a large amount. An article from 2017 in Cointelegraph pointed out that in 2013, Russian blogger Ismail Makke outlined a challenge in which he dared Roger Ver to bet 25,000 BTC, which would make him one of the wealthiest Bitcoin holders back then, when each BTC was worth much less than now. By 2024, if Yahoo Finance predictions are correct, every Bitcoin gifted to Eisenberg could be worth several hundred million. The X post Mayer made in 2018 outlines that, from his point of view, Bitcoin’s network continues to add value by consuming 37 TWh annually. Wolf and RTX are routes for his investments into the Lightning Network to support his aims for scaling and financial integration.
A description of Net Worth and how it affects the company.
It is hard to say how much Mayer is worth as Bitcoin’s price changes so much, and he does not speak much openly. Onooks.org estimates that Rockefeller made millions multiple times, which was supported by his Bitcoin purchases and investments in Kraken and BitPay. BYDFi in 2022 discussed that Mr. de la Hoya’s wealth is possibly the result of intelligent investments and his leadership in the industry, but no particular amount was mentioned. If Mayer still had 25,000 BTC valued at $100,000 per coin by 2024, the total amount of his Bitcoin could have a value of $2.5 billion, although this data is not guaranteed. On his 2019 Investor’s Podcast episode, he gave insight into his low-cost Bitcoin purchases and noted that he could profit greatly from those.
Mayer believes in holding Bitcoin for the long term, an idea reflected in his Mayer Multiple, which checks whether Bitcoin is high or low compared to its 200-day moving average. In the same article, he calculated a 0.61 Mayer Multiple at $6,315 and advised others to buy based on the findings, a recommendation that turned out to be correct as Bitcoin grew considerably afterward. Although his February 2018 $27,395 forecast from Cointelegraph was very ambitious, it proved his conviction that BTC was headed higher because of the rising moving average. Despite the fact that Reddit’s r/btc thought his $2.8 million price prediction was too high in 2017, his defense of bitcoin has obviously contributed to his success and power.
Working Within the Industry
Mayer combines his technical knowledge with a strong conviction about philosophy and technology. In 2014, Saifedean Ammous and Caitlin Long were guests on Bitcoin Knowledge Podcast, discussing how Bitcoin could function as ultimate collateral, a point made in a 2019 episode of the show. According to tracemayer.net, in 2015, he discussed Bitcoin’s benefits during a talk at LaGuardia Community College. His various presentations to the Federal Reserve, IRS, and Bundesbank, as noted on his site, reveal how credible Mayer is. Trace Mayer reports on ConsenSys that Governor Spencer’s support for Wyoming’s blockchain legislation led to his addition to Utah’s Blockchain Task Force in 2022.
X’s technical tweets, such as Mayer’s 2017 statement about Bitcoin’s unchanging supply, appeal to many, even though some find his language too complex, according to Onooks.org. In the episode posted in 2019, he said not to rely on exchanges because they are frequently hacked and limit the amount of bitcoin you can withdraw. While there were those at the time questioning his predictions on Reddit, others who backed him, such as @Bitcoinbeach, still admire his predictions about financial freedom even today. By pitching the Mimblewimble privacy solution and discussing the energy use of Bitcoins, Mayer has proven to be very forward-thinking.
The Future of What Mayer Did for Crypto
To date, Mayer continues to support early-stage cryptocurrency startups, aided by Urim Capital, according to tracemayer.net. By emphasizing the Lightning Network and clear regulations, Willem gives Custodia Bank an advantage in Web3. According to the announcements on X, the upcoming episodes of the Bitcoin Knowledge Podcast are expected to cover both DeFi and privacy. Even with challenges from regulatory bodies, Mayer’s position on self-custody could directly impact future laws in crypto, according to CoinDesk. Pieter’s influence will depend on whether his ideas encourage many new users and balance the issues of sovereignty and scalability in the Bitcoin network.
FAQs
1. Trace Mayer developed Proof of Keys as a movement.
Held every year on January 3, Bitcoiners are encouraged to withdraw their Bitcoins from exchanges into their own wallets to maintain control over their money.
2. Approximately, what is the net worth of Mayer?
According to Onooks.org, in 2023, the total is predicted to be in the tens to hundreds of millions due to her early Bitcoin investment and work with Kraken and BitPay.
3. Which cryptocurrencies does Mayer invest in the most?
As mentioned by tracemayer.net, he supported Bitcoin back in March 2020, as well as Kraken, BitPay, Armory, NYDIG, Custodia Bank, and the Lightning Network projects.
4. Why do people refer to Mayer as the “HODLer of Last Resort”?
Forbes (2020) states that he created the term to describe those who own Bitcoin through its bottom-low moments, adding support to the network.
5. What is Mayer’s role in the crypto market?
Using Proof of Keys, Bitcoin Knowledge Podcast, and investments, he supports self-possession and understanding with regard to regulations, according to tracemayer.net.
