Number of Bitcoin Millionaires Increased by 111% Last Year

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Increase in Crypto Millionaires
  2. Study Details
  3. Bitcoin's Role in Creating New Billionaires


    4. According to a new study, the number of Bitcoin millionaires worldwide increased by 111% last year, with 85,000 people now holding more than $1 million in Bitcoin. Henley and Partners’ 2024 Crypto Wealth Report states that by July 30 of this year, the number of people holding more than $1 million in Bitcoin more than doubled to 85,400.

    Increase in Crypto Millionaires

    It’s not just Bitcoin investors; currently, 172,300 people worldwide hold more than $1 million in cryptocurrency, a 95% increase from 88,200 people in the same period last year. The upper echelons of crypto wealth also saw significant growth, with the number of crypto centi-millionaires holding more than $100 million increasing by 79% to 325. Additionally, six new crypto billionaires emerged last year, bringing the total number of nine-figure crypto holders to 28.

    Study Details

    The report noted that millionaire statistics are rounded to the nearest hundred and that growth was measured between July 1, 2023, and June 30, 2024. The company said the statistics in the 2024 report are based on a mix of in-house wealth tier models and open-source information from major crypto platforms like CoinMarketCap, Binance, BscScan, and Etherscan.

    Bitcoin's Role in Creating New Billionaires

    Andrew Amoils, head of research at New World Wealth, stated that the crypto millionaire group witnessed the highest growth, attributing the increase in the number of billionaires primarily to Bitcoin. In his statement on August 27, Amoils said: "Five of the six new crypto billionaires created last year came from Bitcoin, highlighting its dominant position in attracting long-term investors who acquire large assets."

    According to TradingView data, Bitcoin’s price increased by 142% last year, steadily rising from $26,100 on August 27 last year to $63,100 at the time of writing. Dominic Volek, head of private clients at the company, pointed to the introduction of spot Bitcoin exchange-traded funds as the main driving force behind the rapid growth in the number of new millionaires and the broader rise in the crypto sector.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Circle Raises $100 Million from Binance through Share Sale

Circle has raised $100 million by selling shares to Binance as part of a commercial agreement to promote USDC.

user avatarNguyen Van Long

Circle and Binance Extend Partnership with New Agreement

Circle and Binance have renewed their partnership with a new agreement that replaces previous contracts. This arrangement allows Binance to hold shares in Circle while promoting the USDC stablecoin on its platform.

user avatarSatoshi Nakamura

Coincheck Group Announces Leadership Change

Coincheck Group has confirmed the resignation of Executive Chairperson Takashi Oyagi, effective September 21, for personal reasons, and has approved a new leadership transition structure.

user avatarJesper Sørensen

MEXC Launches Initiatives to Enhance Access to Financial Markets

MEXC has launched several initiatives, including the Trade Wall Street, Without Walls campaign, to enhance access to traditional financial markets.

user avatarRajesh Kumar

MEXC Introduces Stock Trading Handbook for Crypto Traders

MEXC has launched the Stock Trading Handbook to assist crypto traders in transitioning to the stock market as part of its Opportunity Compass initiative.

user avatarLucas Weissmann

KalshiEX Seeks Approval for Perpetual Security Futures

KalshiEX has filed a proposal with the SEC to introduce perpetual security futures linked to 58 stocks and ETFs.

user avatarFilippo Romano

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.