From 2023 to 2024, the number of Bitcoin millionaires increased by almost 111%, reaching 85,400 people in 2024, or 49.6% of all crypto millionaires. When it comes to cryptocurrency billionaires, Henry & Partners revealed that five out of six new entrants this year also traced their success to Bitcoin. In the 2024 Crypto Asset Report.
New trends of virtual currency millionaires and billionaires
Since 2023, the number of people worldwide with at least $1 million in crypto assets has increased by 95% to 172,300. Bitcoin millionaires now represent nearly 50% of all cryptocurrency billionaires worldwide, reflecting a year-over-year increase of just over 111%.
Five of the new billionaires started with Bitcoin. In 2024, six more billionaires joined the list. This brings the total number of Bitcoin billionaires to 28 and shows how popular Bitcoin is in the digital world. As more investors realize how profitable this choice is, they will add it to their portfolios. This is why Bitcoin has become the most popular way to make money.
Source: Henley & Partners
Progress of Bitcoin adoption
In the US, for example, the approval of 11 spot Bitcoin ETFs has contributed to this, significantly boosting Bitcoin adoption. The increase in Bitcoin billionaires may be related to regulatory changes around the world that encourage greater participation and investment in the cryptocurrency market.
The numbers show that investments in these ETFs have reached nearly $20 million, as some investors appear to prefer regulated funds over traditional exchanges. Other countries such as Singapore and the United Arab Emirates (UAE) are similarly promoting the use of cryptocurrencies by making their policies very open. The UAE has done the same, abolishing capital gains tax and allowing Dubai residents to trade cryptocurrencies directly using their bank accounts.
The Singapore government has taken a very bold step in regulating digital assets and has done some very good things. We have published new asset custody guidelines and amended the Payment Services Act to create an updated version specifically tailored to digital payment invoices.
Global cryptocurrency hub and its strong influence on the market
In fact, many other international hubs are emerging as major centers for cryptocurrency research and investment. Caribbean countries such as Antigua, Barbuda, and St. Kitts and Nevis have also introduced progressive legislation to welcome digital asset entrepreneurs, adding to the diverse landscape of cryptocurrency-friendly jurisdictions around the world. It is becoming This is well demonstrated by the example of Zug's “Crypto Valley”. Switzerland actually offers a very robust blockchain ecosystem and is actively promoting digital assets.
Featured images from Pexels, charts from TradingView
