- Growth in Bitcoin Millionaires
- Top Crypto Wealth: CZ and Michael Saylor
- Factors Fueling Rapid Growth in Bitcoin
According to the 2024 report by Henley & Partners, 85,000 individuals have become millionaires by investing in Bitcoin. This indicates a rise in Bitcoin's value and its adoption among traders and investors.
Growth in Bitcoin Millionaires
According to the report, the total number of individuals globally who are now millionaires from crypto investments is 173,200, representing a 95% increase from last year. Of these, 85,400 are Bitcoin millionaires, showing a 111% rise from last year. The report also shows the emergence of 28 crypto billionaires worldwide, out of which 11 are Bitcoin investors.
Top Crypto Wealth: CZ and Michael Saylor
Binance founder and CEO Changpeng Zhao (CZ) remains the richest crypto billionaire for the third consecutive year. Despite serving a jail term in the United States, his net worth increased from over $10.5 billion to $33 billion in just a year. Another Bitcoin billionaire is Michael Saylor, MicroStrategy’s Chairman and former CEO. Saylor has been facilitating the firm’s acquisition of Bitcoin since 2020, and he currently holds 17,000 BTC.
Factors Fueling Rapid Growth in Bitcoin
The introduction of crypto Exchange-Traded Funds (ETFs) has ushered substantial institutional capital into the ecosystem. Bitcoin’s price rose to over $73,000 in March, a record high for the cryptocurrency following the launch of spot Bitcoin ETFs. This investment vehicle has attracted a torrent of institutional capital into the market. Bitcoin is also gaining popularity in jurisdictions with favorable regulatory requirements. For instance, many local businesses in Singapore have begun to accept Bitcoin payments, and traditional banks and asset management firms have disclosed plans to offer Bitcoin-related services.
These milestones have seeded a new era of Bitcoin adoption, where crypto is increasingly infused with traditional finance.
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