Number of Bitcoin Millionaires Soars 111% in One Year Amid Cryptocurrency Boom

The global population of Bitcoin millionaires has surged by an impressive 111% over the past year, with 85,000 individuals now holding Bitcoin worth over $1 million, according to a recent wealth survey.

The Crypto Wealth Report 2024, published by Henley and Partners, reveals that the number of Bitcoin holders with million-dollar portfolios more than doubled, reaching 85,400 by July 30.

This trend isn’t limited to Bitcoin alone. The total number of people worldwide who possess more than $1 million in cryptocurrency has risen to 172,300, marking a 95% increase from 88,200 just a year ago.

The report also highlights the growth at the higher end of the crypto wealth spectrum. The number of individuals holding over $100 million in cryptocurrency has grown by 79%, reaching 325 people. Additionally, six new crypto billionaires have emerged, bringing the total count of those with nine-figure crypto assets to 28.

The report notes that millionaire statistics were rounded to the nearest hundred and that the growth was measured from July 1, 2023, to June 30, 2024. The data in the 2024 report was derived from a combination of “in-house wealth tier models” and open-source information from major crypto platforms such as CoinMarketCap, Binance, BscScan, and Etherscan.

Andrew Amoils, head of research at New World Wealth, emphasized that while the growth in the number of crypto millionaires was substantial, the increase in billionaires was largely fueled by Bitcoin.

“Of the six new crypto billionaires created in the past year, five were primarily invested in Bitcoin, highlighting its strong appeal to long-term investors with significant holdings,” Amoils stated on August 27.

In an interview in May, several new crypto millionaires discussed the transformative effects of their newfound wealth.

Bitcoin’s price has seen a 142% increase over the past year, rising from $26,100 on August 27, 2023, to $63,100 at the time of writing, according to TradingView data.

Dominic Volek, the firm’s head of private clients, attributed the surge in new millionaires and the broader crypto market rally to the introduction of spot Bitcoin exchange-traded funds (ETFs). On August 26, these spot Bitcoin products saw over $200 million in new investments, marking the largest single-day inflow in the past 35 days.

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