The number of Bitcoin millionaires around the world soared by 111% in the last year, with 85,000 people now holding over $1 million in BTC, according to a new wealth survey.
According to the Crypto Wealth Report 2024 from Henley and Partners, the number of people holding more than $1 million in Bitcoin (BTC) more than doubled to 85,400 by July 30.
It wasn’t just Bitcoiners, either. There are now 172,300 people around the world who hold more than $1 million in cryptocurrency, up 95% from 88,200 this time last year.
The “upper echelons” of the crypto wealthy also saw a significant boost, with the number of crypto centi-millionaires — people holding over $100 million in crypto — growing 79% to 325.
Six new crypto billionaires were also minted in the last year, bringing the total number of nine-figure crypto holders to 28.
The number of crypto millionaires grew by 95% in 2024. Source: Henley and Partners
The report said it rounded millionaire statistics to the nearest hundred and measured the growth between July 1, 2023, and June 30, 2024. The firm said statistics in its 2024 report were based on a mix of “in-house wealth tier models” and open-source information from major crypto platforms such as CoinMarketCap, Binance, BscScan and Etherscan.
Andrew Amoils, the head of research at New World Wealth, said that while the crypto “millionaire band” had witnessed the highest growth, the increase in the number of billionaires was primarily driven by Bitcoin.
“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,” said Amoils in an Aug. 27 statement.
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In May, Cointelegraph spoke with several newly minted crypto millionaires about the many changes they experienced as a result of their crypto wealth.
The price of Bitcoin has grown 142% in the last year, growing steadily from a price of $26,100 on Aug. 27, 2023, to a price of $63,100 at the time of publication, according to TradingView data.
The price of Bitcoin has grown 142% in the last year. Source: TradingView
The firm’s head of private clients, Dominic Volek, pinned the introduction of spot Bitcoin exchange-traded funds as the main driver behind the rapid growth in the number of new millionaires and the broader rally in the crypto sector.
The roster of spot Bitcoin products witnessed over $200 million in fresh inflows on Aug. 26, marking the largest single day of inflows in the last 35 days.
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