The number of crypto millionaires is soaring.
Worldwide, there are 172,300 individuals who have cryptocurrency holdings worth more than $1 million in U.S. dollars, according to Henley & Partners’ latest annual “Crypto Wealth Report.
Henley & Partners– a global firm that specializes in residency and citizenship through investing — used data from global wealth intelligence firm New World Wealth as well as academics, industry experts and crypto players to arrive at its figure.
The current number of crypto millionaires represents a 95% increase over the past year. A summary of the Henley & Partners’ report characterizes the surge as an “explosive growth.” The number of Bitcoin millionaires alone has jumped by 111%, to 85,400.
Henley & Partners found that:
- The total market value of crypto assets is $2.3 trillion, an 89% increase over the $1.2 trillion reported in 2023.
- The number of crypto centi-millionaires — those with crypto holdings of $100 million or more — is up by 79% (325 individuals) and the number of crypto billionaires is up 27% (28 individuals).
The surge in crypto wealth comes after Bitcoin rose to an all-time high of $73,000 in March. The introduction of new Bitcoin and Ethereum exchange-traded funds (ETFs) also “unleashed a torrent of institutional capital,” according to Henley & Partners.
Bitcoin’s value has slipped from its March high and now hovers around $60,000.
Before you rush to try to join the ranks of the world’s cryptocurrency millionaires, it’s important to remember that investing in digital money can be risky business.
To get Money Talks News founder Stacy Johnson’s take, check out “Everything You Want to Know About Crypto But Were Afraid to Ask.”
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