A recent report highlights a significant increase in the number of cryptocurrency asset holders worth over $1 million in 2024. The launch of new ETFs and crypto products has driven this growth.
Rise in Crypto Millionaires
In 2023, the number of users holding cryptocurrencies worth more than $1 million was 88,200. In 2024, this number doubled to 172,300. The number of Bitcoin holders also grew, reaching 85,400 individuals. The number of users holding crypto assets worth $100 million grew to 325 individuals, and there are currently 28 crypto billionaires globally. The report emphasizes that the launch of Bitcoin spot ETF and other newly launched crypto products has particularly driven the increase in the count of millionaires and centi-millionaires.
Founders and Holders
According to River Intelligence, the pseudonymous creator of Bitcoin, Satoshi Nakamoto, is the wealthiest individual in terms of crypto assets, holding approximately 1.1 million BTC. Tim Draper, founder of Draper University, bought 40,000 Bitcoins using Mt Gox Exchange, but soon after the purchase, he lost them in a hack. Later in 2014, he again accumulated 22,656 Bitcoins at an average price of $632 per BTC. Draper’s total holdings are valued at approximately $1.42 billion. MicroStrategy Chairman Michael Saylor revealed in 2020 that he personally holds 17,732 Bitcoins; his company is one of the leading institutions holding BTC. Tyler and Cameron Winklevoss, founders of Gemini, personally hold approximately 70,000 Bitcoins worth over $4.39 billion. Among institutional players, Binance holds 248,597 Bitcoins in thousands of cold wallets. Arkham Intelligence claims that Robinhood controls 118,300 BTC worth over $7 billion.
Crypto Market Updates
The fear and greed index powered by CoinMarketCap is at 54, reflecting neutrality. However, the crypto market cap fell by 1.82%, reaching $2.21 trillion. In March 2024, Bitcoin reached its all-time high. At the time of writing, Bitcoin was trading at $62,376, with a daily decline of 1.54%. Despite the drop, Bitcoin's current prices are trading above 20, 50, 100, and 200-day EMAs. Bitcoin's dominance improved by 11.52% YTD, now dominating 57.53% of the entire market. BTC's market cap grew by 5.65% in a week, reaching $1.24 trillion.
The cryptocurrency market continues to attract both institutional and individual investors. The launch of new products and the growing number of crypto asset holders show positive expectations for the future of digital assets.
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