Bitcoin Millionaires Surge as Crypto Wealth Hits New Heights

The latest Crypto Wealth Report from Henley & Partners reveals a significant surge in Bitcoin millionaires, rising by more than 111% to a total of 85,400, which now represent almost half of all crypto millionaires in 2024.

This rise in wealth is part of a broader increase in crypto millionaires, which has grown by 95% since last year, bringing the total number of individuals holding at least $1 million in crypto assets to approximately 172,300.

Among the emerging group of 28 crypto billionaires, six have entered the ranks this year, with five of them primarily investing in Bitcoin. Bitcoin is also popular among users, with around 275 million holders making up 49% of the 560 million global crypto users.

The rise in Bitcoin millionaires has been fueled by recent developments like the approval of 11 spot Bitcoin ETFs in the U.S., which has attracted nearly $20 million in investments, as many opt for these funds instead of trading on exchanges.

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Additionally, regions such as Singapore and the UAE are promoting crypto adoption through favorable regulations, with the UAE implementing zero capital gains tax and enabling direct trading from bank accounts. Singapore has also introduced new guidelines focusing on digital asset custody.

Countries like Switzerland are enhancing their appeal to the crypto community, notably with its “Crypto Valley” in Zug, while Caribbean nations like Antigua and Barbuda are enacting progressive laws to draw in digital entrepreneurs.

Kostadin Dimitrov