According to Henry & Partners' 2024 Crypto Asset Report, the number of Bitcoin millionaires jumped nearly 111% from 2023 to 2024, reaching 85,400. This represents 49.6% of crypto millionaires worldwide. Additionally, 5 out of 6 new crypto millionaires attribute their success to Bitcoin.
Since 2023, the number of individuals worldwide holding at least $1 million in cryptocurrencies has increased by 95% to a total of 172,300. Almost half of these are now Bitcoin holders, reflecting a 111% year-on-year increase.
Bitcoin's growing popularity is further evidenced by the fact that 5 out of 6 new millionaires in 2024 owe their fortunes to Bitcoin investments. There are currently a total of 28 Bitcoin millionaires, showing that Bitcoin continues to dominate among investors looking for big profits.
Bitcoin adoption trends
In the United States, the approval of 11 spot Bitcoin exchange-traded funds (ETFs) is critical to promoting Bitcoin adoption. This regulatory change encouraged participation in the cryptocurrency market and attracted significant investment in Bitcoin.
Investors are increasingly preferring regulated investment options like ETFs over traditional exchanges, with nearly $20 million invested in these funds. Countries such as Singapore and the United Arab Emirates have also accepted cryptocurrencies through favorable regulations.
For example, the UAE has abolished capital gains tax and allowed Dubai residents to trade cryptocurrencies directly through their bank accounts. In Singapore, the government introduced new asset custody guidelines and amended the Payment Services Act to streamline the digital payment process.
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Global Cryptocurrency Hubs and Regulatory Impact
Various regions around the world are becoming important centers for cryptocurrency research and investment. Caribbean countries such as Antigua, Barbuda, and St. Kitts and Nevis have implemented progressive laws to attract digital asset entrepreneurs, helping to diversify crypto-friendly jurisdictions globally.
The “Crypto Valley” in Zug, Switzerland is a notable example of a strong blockchain ecosystem and demonstrates the country’s active support for digital assets. The global trend towards accepting cryptocurrencies suggests that digital currencies, particularly Bitcoin, are becoming more mainstream.
Disclaimer: Please note that this article does not constitute financial or investment advice. The information provided in this article is solely the opinion of the author and does not constitute a trading or investment recommendation. We make no warranties as to the completeness, reliability, or accuracy of this information. The virtual currency market is highly volatile and can sometimes cause arbitrary movements. Investors, traders, or regular cryptocurrency users should research multiple perspectives and familiarize themselves with all local regulations before making an investment.
