There are 85,400 crypto millionaires worldwide, which is a 111% increase from the past year, a new report reveals.
International wealth and investment migration specialists from Henley & Partners have compiled a Crypto Wealth Report 2024, highlighting how Bitcoin rally over the past year has created more crypto millionaires.
Dominic Volek from Henley & Partners attributes the incredible surge to the US spot Bitcoin ETFs approved in January. He said that the long-awaited approval of spot Bitcoin and Ethereum ETFs “unleashed a torrent of institutional capital.”
“Anticipation now builds for potential Solana ETFs joining the Wall Street party. These milestones have seeded a new era of crypto adoption, one where digital assets increasingly cross-pollinate with traditional finance and global mobility.”
Surge in ‘Crypto Centi-Millionaires’
Further, the report said this year, there has been a 95% increase in individuals holding over $1 million in cryptos. Around 172,300 individuals globally are crypto millionaires.
Additionally, a surge is also observed in crypto centi-millionaires, that hold assets of $100 million and more. This year, the report notes an increase in crypto centi-millionaires, reaching 325 globally.
Besides, the total market value of cryptos saw an increase to $2.3 trillion, 89% more compared to last year’s $1.2 trillion.
However, crypto billionaire growth was much lower last year and mainly driven by Bitcoin, says Andrew Amoils, Head of Research at New World Wealth.
Among the crypto billionaires, ex-Binance CEO Changpeng Zhao, aka CZ. Per Forbes profile, that he is estimated to hold $33 billion net worth. Nevertheless, CZ’s wealth has been hit over the last year, following his money laundering charges in November and subsequent resignation.
Following CZ, Brian Armstrong, the co-founder of Coinbase, holds the second place among crypto billionaires, with assets estimated $11 billion. Giancarlo Devasini, chief financial officer of Tether, and Michael Saylor, co-founder of MicroStrategy, closely follows the list.
Source: cryptonews.com