A recent report from Henley & Partners reveals that the number of crypto millionaires worldwide has surged to 85,400 in 2024, marking a 111% increase from the previous year. This rise is attributed to the rally in Bitcoin and the approval of US spot Bitcoin ETFs in January, which unleashed significant institutional investment.
Dominic Volek of Henley & Partners highlighted that the introduction of Bitcoin and Ethereum ETFs has ushered in a new era of crypto adoption, blending digital assets with traditional finance. The report also notes the potential for Solana ETFs to further bolster this trend.
In addition to the rise in millionaires, the report shows a 95% increase in individuals holding over $1 million in crypto, totaling 172,300 globally. The number of crypto centi-millionaires, those with assets exceeding $100 million, has also grown, reaching 325 worldwide.
While the overall market value of cryptocurrencies has risen to $2.3 trillion, an 89% increase from last year’s $1.2 trillion, the growth in crypto billionaires has been more modest. Bitcoin remains the dominant force, responsible for creating five of the six new crypto billionaires this year.
Notable figures among the crypto billionaires include ex-Binance CEO Changpeng Zhao (CZ), whose net worth is estimated at $33 billion, despite recent legal challenges. Following CZ, Coinbase co-founder Brian Armstrong is the second wealthiest in the crypto space with an $11 billion fortune, while Tether’s CFO Giancarlo Devasini and MicroStrategy’s co-founder Michael Saylor also feature prominently on the list.
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