The number of crypto millionaires has surged dramatically over the past year, particularly among Bitcoin holders. Recent data shows that the global population of crypto millionaires jumped 95%, now totaling 172,300 individuals with over $1 million in crypto assets. This is up from 88,200 a year ago. The number of Bitcoin millionaires more than doubled, reaching 85,400.
This surge in wealth is largely attributed to the introduction of Bitcoin exchange-traded funds (ETFs), which have drawn in over $50 billion in assets since January 2024. As a result, Bitcoin's price has increased by 45% this year, reaching around $64,000.
As reported by CNBC, the rise in crypto wealth isn't limited to millionaires. There are now 325 centi-millionaires, individuals holding over $100 million in crypto assets, and 28 crypto billionaires. Bitcoin continues to dominate the crypto market, with most of the new billionaires deriving their fortunes from it.
Forbes has reported that Changpeng Zhao, the founder of Binance, remains the wealthiest crypto billionaire with an estimated net worth of $33 billion. Despite legal challenges over the past year, his wealth grew by more than $10.5 billion. Other leading figures in the crypto space include Brian Armstrong, the co-founder of Coinbase, with a net worth of $11 billion, and Giancarlo Devasini, CFO of Tether.
According to Cointelegraph, while the overall crypto market hasn't yet returned to its 2021 highs, major asset managers like BlackRock and Fidelity are expected to drive further growth. Their involvement could continue to fuel wealth creation among large crypto holders.
The surge in crypto wealth is influencing where the rich choose to live. There is a growing trend among the crypto wealthy to move to tax-friendly and crypto-friendly countries. According to Henley & Partners, Singapore tops the list, followed by Hong Kong, the United Arab Emirates, and the United States.
