Bitcoin has created 85,400 millionaires, highlighting its growing value and investor interest, according to the 2024 Crypto Wealth report by Henley & Partners. This report also shows that, across the world, there are now 173,200 people who became millionaires through cryptocurrencies, with a growth of 95% in the last year. Of these, 85,400 are Bitcoin millionaires, an increase of 111% in the last year.
The report also points out that presently there are 28 crypto billionaires globally, of which 11 are Bitcoin traders. This includes the addition of six billionaires in the previous year, five of which invested in Bitcoin, making Bitcoin the primary driver of large investments. The market capitalization, or the total value of cryptocurrencies has increased by 89% to $2.3 trillion from $1.2 as per the data revealed in the previous year.
Changpeng Zhao Remains Richest Crypto Billionaire, Wealth Surges to $33 Billion
The rankings remain largely unchanged in the current year, and Changpeng Zhao of Binance remains the richest crypto billionaire again in the current year. Despite the cases facing the courts in the United States, his asset base has risen from beyond $10.5 billion to $33 billion. Another big name associated with Bitcoin is Michael Saylor, the Chairman of MicroStrategy, which currently owns 226,500 BTC. Saylor has been a holder of Bitcoin since the year 2020 and has personally owned Bitcoin for more than $1 billion.
Bitcoin wealth has increased with the entry of crypto Exchange-Traded Funds (ETFs) which has attracted institutional investors into the market. Bitcoin hit a high of more than $73,000 in March due to the introduction of spot Bitcoin ETFs. Today it is known that large financial companies, such as Morgan Stanley and Goldman Sachs, actively invest in Bitcoin ETFs.
Additionally, the adoption of Bitcoin is gradually progressing in areas that have advanced policies on cryptocurrency. The usage of Bitcoin and other related services continues to gain popularity in businesses and financial institutions in Singapore and is now shifting towards integration with conventional financial systems.
