Between 2023 and 2024, the number of bitcoin millionaires increased by almost 111%, reaching 85,400 or 49.6% of all cryptocurrency millionaires in 2024. As for cryptocurrency billionaires, five of the six newcomers this year They also attribute their success to bitcoin, Henley & Partners revealed. in your crypto-wealth-report-2024″ target=”_blank” rel=”noopener nofollow”>crypto Wealth Report 2024.
The Emerging Tide of crypto Millionaires and Billionaires
Since 2023, the number of people worldwide holding at least $1 million in crypto assets has increased by 95%, reaching 172,300. bitcoin/” target=”_blank” rel=”noopener nofollow”>bitcoin Millionaires now account for nearly 50% of all cryptocurrency millionaires globally, reflecting an increase of just over 111% from the previous year.
Five of the new billionaires started with Bitcoins. Six more billionaires joined the list in 2024. This brings the total number of bitcoin billionaires to 28, showing how popular bitcoin is in the digital world. As more investors see how profitable this option could be, they are adding it to their portfolios. This makes bitcoin the most popular way to make money.
Source: crypto-wealth-report-2024" target="_blank" rel="noopener nofollow">Henley & Partners
Developments in bitcoin adoption
In the United States, for example, the approval of 11 bitcoin spot ETFs has contributed to this, significantly boosting bitcoin adoption. The rise of bitcoin millionaires can be linked to regulatory changes around the world that have encouraged greater participation and more investment in the cryptocurrency market.
The figures show about $20 million in investments in those ETFs because some investors seemed to prefer regulated funds to traditional exchanges. Other countries, such as Singapore and the United Arab Emirates (UAE), have similarly promoted the use of cryptocurrencies by being very open in their policies. The same goes for the United Arab Emirates, which eliminated capital gains taxes and allowed Dubai residents to trade cryptocurrencies directly using bank accounts.
The Singapore government has taken a very bold step in regulating digital assets and has done some exceptionally good things. It issued new asset custody guidelines and amended the Payment Services Law so that the updated version was specially adapted as an invoice for digital payments.
Global crypto Centers and Their Strong Influence on the Market
In fact, several other international locations have become key centers for cryptocurrency research and investment. Caribbean countries such as Antigua, Barbuda, St. Kitts and Nevis have also introduced progressive legislation to welcome digital asset entrepreneurs, and this has diversified the landscape of cryptocurrency-friendly jurisdictions around the world. This is clearly evidenced by the example of crypto-valley-at-the-heart-of-the-global-blockchain-economy/” target=”_blank” rel=”noopener nofollow”>Zug's “Cryptocurrency Valley” – Switzerland actually features a fairly robust blockchain ecosystem and is actively promoting digital assets.
Featured image from Pexels, chart from TradingView
