The cryptocurrency market has seen an unprecedented surge in wealth, with over 84,000 new crypto billionaires emerging in the past year, driven by a rally in Bitcoin and other digital assets. According to a recent report by New World Wealth and Henley & Partners, the number of crypto millionaires worldwide has increased by 95%, reaching a total of 172,300 individuals with over $1 million in crypto assets.
This dramatic rise is largely attributed to the success of Bitcoin exchange-traded funds (ETFs), which have amassed over $50 billion in assets since their debut in January. The price of Bitcoin itself has surged by 45% this year, now trading around $64,000, contributing to a broader increase in the market capitalization of crypto assets, which has risen to $2.3 trillion, up from $1.2 trillion last summer.
The number of Bitcoin millionaires has more than doubled to 85,400, and there are now 325 crypto centimillionaires—those with $100 million or more in crypto holdings—and 28 crypto billionaires. Among the new billionaires, six emerged this year, with five attributing their wealth to Bitcoin’s dominance in the market.
The richest crypto billionaire for the third consecutive year is Changpeng Zhao, founder and former CEO of Binance, whose wealth has surged to an estimated $33 billion despite legal challenges. Following Zhao are Brian Armstrong, co-founder of Coinbase, valued at $11 billion, and Giancarlo Devasini, CFO of Tether, alongside Michael Saylor, co-founder of MicroStrategy.
Despite many crypto assets still being below their 2021 highs, the growing acceptance and institutional involvement in crypto markets are fueling further wealth creation. Major asset managers like BlackRock and Fidelity, along with Morgan Stanley’s extensive brokerage network, are helping to drive this trend.
The increase in crypto wealth is also influencing lifestyle choices, with many of the newly wealthy seeking to relocate to tax-friendly and crypto-friendly jurisdictions. Singapore tops the newly created “Crypto Adoption Index,” followed by Hong Kong, the United Arab Emirates, and the U.S., where 15% of the population now owns cryptocurrencies.
Dominic Volek, head of private clients at Henley & Partners, noted, “We’ve seen a significant uptick in crypto-wealthy clients seeking alternative residence and citizenship options,” highlighting the shift in global financial dynamics driven by the cryptocurrency boom.
hii Aditi Sahu this side..
As an author and writer specializing in investment and finance , I am dedicated to delivering insightful articles and news stories that inform and engage the investment community . My focus is on providing timely and relevant content that covers market trends , innovative strategies , and key financial development . My goal is to equip investors with the knowledge and insights needed to make informed decisions and succeed in a dynamic financial environment.
