84,000 New Crypto Millionaires Added in a Year

The global population of crypto millionaires surged by 95% over the past year, driven by a significant rally in Bitcoin and the growth of crypto exchange-traded funds (ETFs), according to a recent report by New World Wealth and Henley & Partners. The number of individuals holding over $1 million in crypto assets has risen to 172,300, nearly doubling from 88,200 last year. Notably, the number of pure Bitcoin millionaires more than doubled to 85,400.

This growth extends beyond millionaires, with 325 individuals now classified as crypto centi-millionaires—those with over $100 million in crypto holdings—and 28 reaching the status of crypto billionaires. The rise reflects the rapid adoption of Bitcoin ETFs, which have amassed over $50 billion in assets since their introduction in January, spurring a wave of institutional investment.

Bitcoin’s price has surged by 45% this year, reaching approximately $64,000, contributing to an increase in the market capitalization of crypto assets to $2.3 trillion, up from $1.2 trillion the previous summer. Despite this growth, many crypto assets remain below their 2021 highs, when the market cap peaked at $3 trillion.

Of the six new crypto billionaires created over the past year, five owe their fortunes to Bitcoin, underscoring its dominant position among long-term investors. Leading the list of crypto billionaires is Changpeng Zhao, founder and former CEO of Binance, with an estimated net worth of $33 billion, despite recent legal challenges.

The report also highlights the growing acceptance of crypto assets among major asset managers like BlackRock and Fidelity, which could further drive wealth creation. As crypto gains broader acceptance, many of the newly wealthy are seeking residence in tax-friendly and crypto-friendly jurisdictions, with Singapore ranking first on Henley’s Crypto Adoption Index.