Rise in Crypto Millionaires: New Data

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Increase in Crypto Millionaires
  2. Details of the Study
  3. Reasons for Bitcoin's Price Growth


    4. A recent study has revealed a notable surge in the number of Bitcoin and other cryptocurrency millionaires. In 2023, the count of such individuals increased by 111%.

    Increase in Crypto Millionaires

    Henley and Partners’ 2024 Crypto Wealth Report indicates that by July 30, 2023, there were 85,400 individuals holding more than $1 million in Bitcoin. This marks a significant increase from previous years.

    The surge isn't limited to Bitcoin alone. Currently, 172,300 individuals worldwide possess over $1 million in various cryptocurrencies, a 95% increase from last year’s 88,200.

    The number of individuals holding assets over $100 million also rose by 79%, reaching 325. Additionally, six new crypto billionaires emerged in the past year, bringing the total of nine-figure crypto holders to 28.

    Details of the Study

    Henley and Partners reported that millionaire statistics, rounded to the nearest hundred, were measured between July 1, 2023, and June 30, 2024. These findings are based on a combination of in-house wealth tier models and open-source information from leading crypto platforms like CoinMarketCap, Binance, BscScan, and Etherscan.

    Andrew Amoils, head of research at New World Wealth, attributed the majority of this growth to Bitcoin. He emphasized that five out of six new crypto billionaires in the past year were Bitcoin investors, reinforcing the cryptocurrency's dominant position in attracting long-term, high-value investors.

    Reasons for Bitcoin's Price Growth

    According to TradingView data, Bitcoin’s price surged by 142% last year, climbing from $26,100 to $63,100. Dominic Volek, head of private clients at Henley and Partners, pointed to the introduction of spot Bitcoin exchange-traded funds as a significant catalyst driving this rapid growth in the number of new millionaires and the overall expansion of the crypto sector.

    On August 26, spot Bitcoin products saw over $200 million in new inflows, marking the largest single inflow day in the past 35 days.

    Henley and Partners’ study shows a significant increase in the number of crypto millionaires in the past year, driven by the rise in Bitcoin's value and the introduction of new financial products in the crypto market.

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

Binance Introduces 24/7 Foreign Exchange Perpetual Contracts

Binance has launched a new trading model for 24/7 trading of foreign exchange perpetual contracts, starting with a contract linked to the US dollar and Brazilian real.

user avatarLeo van der Veen

Ondo Finance Streamlines Institutional Stock Tokenization

Ondo Finance has introduced a new integration that simplifies the process of institutional stock tokenization by allowing direct contribution of existing equity inventory.

user avatarLi Weicheng

Investigation into Zondacrypto Founder’s Disappearance Intensifies

The investigation into the disappearance of Zondacrypto founder Sylwester Suszek has intensified as Polish police search a fuel depot linked to his last known whereabouts.

user avatarTenzin Dorje

OKX Introduces Shield to Enhance User Security in Europe

OKX has launched a new initiative called OKX Shield aimed at improving exchange security for European users by requiring a hardening checklist for tiered financial protection against account takeovers.

user avatarAisha Farooq

Former Police Officer Charged in Zondacrypto Exchange Collapse

Former police officer Artur K has been charged with multiple offenses related to the collapse of the Zondacrypto exchange, including membership in an organized criminal group and aiding in the misappropriation of funds.

user avatarBayarjavkhlan Ganbaatar

Anchorage Digital Enhances Stablecoin Infrastructure with LayerZero Partnership

Anchorage Digital has partnered with LayerZero to enhance its regulated stablecoin infrastructure, enabling seamless crosschain movement of stablecoins.

user avatarMohamed Farouk

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.