The global population of crypto millionaires has surged dramatically, driven by a significant rally in bitcoin and other cryptocurrency assets. According to a recent report by New World Wealth and Henley & Partners, the number of individuals holding over $1 million in crypto assets has soared by 95% over the past year.
As of the latest report, there are now 172,300 crypto millionaires worldwide, up from 88,200 the previous year. The number of pure bitcoin millionaires has more than doubled to 85,400. This increase reflects the broader growth in the cryptocurrency sector, with bitcoin exchange-traded funds (ETFs) and other digital assets seeing substantial gains.
The rise in crypto wealth is not limited to millionaires. The report highlights that there are now 325 crypto centimillionaires—those with $100 million or more in crypto holdings—and 28 crypto billionaires. The growth is attributed to the expansion of bitcoin ETFs, which have amassed over $50 billion in assets since their launch in January, and an influx of institutional investors.
Bitcoin’s price has jumped 45% this year, reaching approximately $64,000. The broader market capitalization of crypto assets has increased to $2.3 trillion, up from $1.2 trillion last summer. Despite this growth, many crypto assets remain below their 2021 highs, and bitcoin’s recent price increase essentially marks a return to levels seen three years ago when the market cap peaked at $3 trillion in November 2021.
Among the new crypto billionaires, five of the six owe their newfound status to bitcoin, underscoring its dominant role in attracting long-term investors with substantial holdings. Andrew Amoils, head of research at New World Wealth, noted that this trend highlights bitcoin’s continued appeal as a leading investment in the crypto space.
Forbes reports that the richest crypto billionaire for the third consecutive year is Changpeng Zhao, the founder and former CEO of Binance, with an estimated net worth of $33 billion. Zhao’s wealth has increased by more than $10.5 billion over the past year, despite his recent guilty plea to U.S. money laundering charges and a $50 million fine. Brian Armstrong, co-founder of Coinbase, follows with an estimated net worth of $11 billion, while Giancarlo Devasini, CFO of Tether, and Michael Saylor, co-founder of MicroStrategy, also rank among the top crypto billionaires.
The rise in crypto wealth is also influencing migration patterns. Many newly wealthy individuals are seeking residence in tax-friendly and crypto-friendly jurisdictions. Henley & Partners reports a growing interest among the crypto elite in alternative residence and citizenship options. Their “Crypto Adoption Index” ranks Singapore at the top, due to its supportive banking system, significant investments, and comprehensive regulations. Hong Kong, the United Arab Emirates, and the U.S. follow in the rankings, with the U.S. noted for its strong crypto infrastructure and widespread adoption.
As the crypto market continues to evolve, the increasing acceptance among major asset managers and the expansion of crypto-friendly services are likely to drive further wealth creation and influence the global landscape of the ultra-wealthy.
