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The number of Bitcoin millionaires globally has surged by 111% over the past year, reaching 85,400 individuals who now hold assets exceeding $1 million in Bitcoin. This significant increase is highlighted in the Crypto Wealth Report 2024 by Henley and Partners, which documents the growth up to July 30 of this year.
The report indicates that the total number of people possessing over $1 million in cryptocurrency has also expanded notably, growing by 95% from 88,200 to 172,300. This growth is accompanied by a substantial rise in the number of crypto centi-millionaires—those holding over $100 million in cryptocurrency—who increased by 79% to 325 individuals. Additionally, the count of crypto billionaires has risen to 28, with six new billionaires emerging over the past year, of which five accrued their wealth primarily from {Bitcoin} (BTC).
The data, gathered from July 1, 2023, to June 30, 2024, was compiled using in-house wealth models and information from major crypto platforms including CoinMarketCap, Binance, BscScan, and Etherscan. Andrew Amoils, head of research at New World Wealth, noted that the most substantial growth occurred among Bitcoin millionaires, with Bitcoin remaining the primary driver behind the increase in new billionaires.
Amoils highlighted that Bitcoin’s dominance in the crypto market is evident, as five of the six new crypto billionaires accrued their wealth from Bitcoin, underscoring its appeal to long-term holders of significant amounts.
Over the past year, the price of Bitcoin has risen by 142%, climbing from $26,100 on August 27 of the previous year to approximately $63,100 currently, according to TradingView data. Dominic Volek, head of private clients at Henley and Partners, attributed the rapid rise in Bitcoin millionaires and the overall crypto market rally to the introduction of spot Bitcoin exchange-traded funds (ETFs). On August 26, spot Bitcoin ETFs experienced over $200 million in new inflows, marking the highest single-day influx in the last 35 days.
