The number of Bitcoin millionaires globally surged by 111% over the past year, with 85,000 people now holding more than $1 million in Bitcoin (BTC), according to a new wealth survey. The Crypto Wealth Report 2024 from Henley and Partners revealed that by July 30, the number of individuals with Bitcoin holdings exceeding $1 million more than doubled to 85,400.
It’s not just Bitcoin investors who have benefited from the crypto market boom. The report shows that 172,300 people worldwide now hold over $1 million in various cryptocurrencies, a significant increase of 95% from 88,200 last year.
The report also highlighted a rise in the wealthiest tier of crypto investors. The number of "crypto centi-millionaires"—those with over $100 million in cryptocurrency—jumped by 79% to 325. Additionally, six new crypto billionaires emerged in the past year, bringing the total to 28 individuals with nine-figure crypto holdings.
Andrew Amoils, head of research at New World Wealth, said,
"The crypto 'millionaire band' has seen the highest growth, but the increase in the number of billionaires has been mainly driven by Bitcoin."
He added in an August 27 statement,
"Of the six new crypto billionaires created over the past year, five came from Bitcoin, underscoring its dominant position when it comes to attracting long-term investors who buy large holdings."
The Crypto Wealth Report 2024 explains that millionaire statistics were rounded to the nearest hundred and calculated based on data from July 1, 2023, to June 30, 2024. The report combined "in-house wealth tier models" with publicly available data from major crypto platforms, including CoinMarketCap, Binance, BscScan, and Etherscan.
Dominic Volek, the head of private clients at Henley and Partners, attributed the rapid growth in new millionaires and the overall rally in the crypto sector to the introduction of spot Bitcoin exchange-traded funds (ETFs). On August 26, spot Bitcoin products saw over $200 million in fresh inflows, the largest single-day inflow in 35 days.
The value of Bitcoin itself has surged 142% over the last year, climbing steadily from $26,100 on August 27, 2023, to $63,100 at the time of publication, according to TradingView data.
