New York, Sunday, September 01, 2024 – The global population of crypto millionaires surged by 95% in 2024, according to a new report by New World Wealth and Henley & Partners.
The report reveals that 172,300 individuals now hold over $1 million in crypto assets, up from 88,200 in 2023.
The increase is largely attributed to the rise of spot Bitcoin exchange-traded funds (ETFs) and other cryptocurrencies, which have driven a significant uptick in wealth.
The number of Bitcoin millionaires also saw a substantial increase, more than doubling to 85,400 during the same period. Additionally, the report highlights that 325 individuals have now achieved centimillionaire status, holding $100 million or more in crypto, while the number of crypto billionaires has risen to 28.
The surge in crypto wealth has been fueled by the growth of spot Bitcoin ETFs, which have accumulated over $50 billion in assets since their launch in January 2024. This has led to increased institutional participation and a marked shift in the crypto landscape.
The report also notes a trend among crypto millionaires seeking to relocate to tax-friendly and crypto-friendly jurisdictions. Singapore ranks as the top destination due to its supportive banking system and comprehensive regulations, followed by Hong Kong, the United Arab Emirates, and the U.S.
