Poker and cryptocurrency are similar. They both revolve around managing risk, understanding odds, developing intelligent strategies, sticking to discipline, and riding out volatility. The similarities are quite striking, actually. For that reason, it makes sense that plenty of professional poker players are also crypto investors. This article takes a look at some of the most notable poker stars who became crypto investors, and how they turn their card skills into coin skills.

Daniel “Jungleman” Cates

Daniel Cates is synonymous with the online poker grind and high-stakes games, but nowadays, he’s one of the leading poker pros investing in crypto. He has over $20 million in live tournament winnings, so we assume he’s still got some good capital to invest (but before Cates was crushing poker tables and diving into crypto, he took an unexpected detour that almost derailed everything).

He has explained why it seems that crypto attracts poker players. In his words, “… both are subject to wild volatility, which creates a situation where risk management, as well as bankroll management, become critical. I also think the speed of the crypto industry is what attracted many poker players.” He makes a good point. While traditional equity markets can lead to some very slow trading for retail investors, crypto offers a much more active opportunity to make moves. It’s perfect for players who like to respond to information and get in the action, instead of feeling like they’re sitting on the sidelines, as you might with classic equity investing.

Learn more about the highs and lows of Daniel’s journey—including how he once lost a million dollars in one day—in this exclusive Team Ignition Show interview:

Doug Polk

Doug Polk may be retired (temporarily again?) from full-time poker, but he hasn’t stopped making big moves. After terrorizing the heads-up scene and earning a few shiny WSOP bracelets, Polk moved on to content creation and cryptocurrency investing. He co-founded CoinCentral, a crypto education website, in 2017 and has been into blockchain opportunities ever since.

Polk got into Bitcoin when it was trading around $100 per. His poker skills undoubtedly helped him take on the investing world somewhat. Evaluating risk, staying calm under pressure, and acting on incomplete information are all habits a person needs to succeed in crypto investing – and Polk excels at all of these things. Add to that his entrepreneurship, and you’ve got a fixture in the poker/crypto crossover scene.

Alex Wice

Alex Wice is a player who made a very high impact transition from poker into the world of cryptocurrency. In fact, his poker history is totally secondary to his days of trading crypto. He became one of the most famous poker stars who became crypto investors thanks to his insane trading volumes that often had him at the very top of the global leaderboard.

Check out his X account to stay up on all kinds of crypto news. If you want to learn about fearless coin trading, this is the man to follow. But remember: in the volatile world of crypto, record gains one week don’t mean you’ll always be on top. Dig into the whole story of Alex Wice and you’ll find something very familiar to poker players: the highs are very high, but the lows are devastating.

Isabelle Mercier

Isabelle Mercier was always a lethal poker player. She’s a WPT champion and has appeared on TV as well. Now, poker fans also can find her talking about another crossover concept: crypto-based poker platforms. Poker crypto success comes together perfectly on platforms like that.

Many people think she decided to become a poker pro when she won WPT Ladies Night in 2004 in Los Angeles, but the “spark that started the holy fire in [her]” came during the annual Master Classic of Poker tournament in Amsterdam. It was there that the necessity of taking risks really clicked for her. Now, she’s known by her nickname: “No Mercy.” Sounds like she knows how to make moves with cards and in the crypto markets.

Antanas “Tony G” Guoga

Lithuanian poker legend Tony G is quite the character. When he’s not running his mouth at the tables and running deep in tournaments, he’s working as the CEO of Cypherpunk Holdings. What is his company focused on? Privacy technologies and cryptocurrencies.

He has done quite well. He said that he made $100M in 2024! Forget poker tournaments, being a crypto whale is where it’s at. He is involved in strategic blockchain investments, has spoken at multiple fintech and crypto conferences, and recommends that people chase their dream relentlessly. “You have to be crazy, insane, never giving up.”

Tony G’s story is one of the most impressive cases of poker crypto success ever.

Rafe Furst

Rafe Furst might not be a household name, but he is a WSOP bracelet winner who has moved into venture capital and decentralized finance (DeFi). He co-founded a DeFi investment fund that now manages tens of millions in assets, so his transition is going quite well.

Furst has said that his poker background (especially concepts like bankroll management and expected value) helped him handle the craziness of early crypto markets. Sailing through the stormy waters of investing in digital coins is a lot like a wild poker hand. You have to have a strategy and be flexible whenever the situation changes on a dime.

Annie Duke

Annie Duke is an incredibly smart person on and off the felt. She has a WSOP bracelet (and a victory in the 2004 Tournament of Champions), but she’s also a well-regarded author and consultant specializing in decision-making under uncertainty. Obviously, it’s a skill set that you need in both poker and cryptocurrency investing.

While Duke isn’t exactly a modern “crypto bro,” she provides strategic guidance to crypto investors and blockchain startups. Her books on decision science, like Thinking in Bets, are frequently used by those trying to make sense of volatile markets. For the thinking person’s take on crypto and poker, this is the guru to turn to.

Other Notable Names

Poker players like Mike McDonald, Dan Smith, Brian Rast, and Jeff Gross have also invested in crypto. These investments can include long-term Bitcoin positions, trading tokens during the NFT craze, or even backing blockchain-based poker platforms. One thing is clear: poker instincts and poker earnings lend themselves quite well to winning in the crypto world.