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Bitcoin Millionaires Grow 111% in a Year: Analysis and Forecasts

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by Giorgi Kostiuk

a year ago

  1. Rise in Crypto Millionaires
  2. Role of Bitcoin in Creating New Billionaires
  3. Analysts' Predictions for 2024


    4. Over the past year, the number of Bitcoin millionaires has significantly increased due to rising crypto prices. Experts predict further surges in BTC's value in the coming years.

    Rise in Crypto Millionaires

    According to the Crypto Wealth 2024 report compiled by Henley and Partners, the number of Bitcoin millionaires worldwide doubled over the past year to 85,400 as of July 30. Overall, the number of people holding over $1 million worth of digital assets reached 172,300, a 95% increase from the previous year.

    Role of Bitcoin in Creating New Billionaires

    The number of individuals with crypto wealth exceeding $100 million also rose by 79%, reaching 325 people. The number of crypto billionaires increased by six over the year, totaling 28. Five of these new billionaires earned their wealth from Bitcoin, noted Andrew Amoils, head of research at New World Wealth.

    Analysts' Predictions for 2024

    CoinMarketCap data shows BTC climbed 141% in the last year, trading at $62,769.86 as of 2:55 a.m. EST. Analyst Jamie Coutts from RealVision noted in an X post that BTC could potentially reach $150,000 by the end of 2024 if no fundamental changes occur. However, not all analysts are as optimistic. ManagerXBT highlighted active short-term Bitcoin sellers, suggesting a potential price pullback.

    Interest in cryptocurrency continues to grow steadily. The increasing number of millionaires and billionaires who have built their wealth on cryptocurrencies signifies the substantial impact of the digital asset market on the modern financial ecosystem.

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