The number of Bitcoin millionaires has risen by 111% over the past year. At the moment, more than 85,000 users hold over $1 million in BTC. This figure is twice the amount than what was registered last year.
A recent report released by Henley and Partners unveiled that a̧longside Bitcoin, the number of users holding more than $1 million in other crypto assets has also risen by 95% over the past year to 172,300.
The numbers in the report were generated based on an amalgamation of “in-house wealth tier models” and data from open-source data from platforms like CoinMarketCap, Binance, BscScan, and Etherscan.
Andrew Amoils, Head of Research at New World Wealth indicated that the millionaire band performed best over the past year, while the billionaire growth was significantly lower and mainly driven by Bitcoin. He asserted,
“Of the six new crypto billionaires created over the past year, five came from Bitcoin, underscoring its dominant position when it comes to attracting long-term investors who buy large holdings.”
Meanwhile, Dominic Volek, the Group Head of Private Clients at Henley and Partners indicated that the rapid rise has been fueled by the introduction of crypto ETFs in major financial markets, ushering in significant institutional capital. He added,
“The cryptocurrency landscape of 2024 bears little resemblance to its predecessors. These [recent] milestones have seeded a new era of crypto adoption, one where digital assets increasingly cross-pollinate with traditional finance and global mobility.”
On the price front, BTC registered a 48.32% pump in the first six months of this year. Meanwhile, so far in H2 2024, it is down 5.14%.
