Many people have found unexpected wealth thanks to cryptocurrencies. You don't need to be an expert to know that the price of Bitcoin has skyrocketed since its inception. About 12 to 15 years ago, you could buy thousands of Bitcoins for next to nothing.
It is believed that the biggest beneficiaries were those who initially believed in digital currencies. But fast forward to today, and new coins are still emerging, offering new opportunities to make big bucks. Recent reports have shown that the number of crypto millionaires is increasing, proving that people are still cashing in on this digital gold rush. How many crypto millionaires are there?
Understanding Cryptocurrency Billionaires
Crypto millionaires come from different backgrounds and employ different strategies to maintain their wealth. In addition to early investors, there are many others who have made their fortunes by taking advantage of market volatility and making smart trades that buy low and sell high.
Some people have really succeeded in the world of decentralized finance and found ways to earn passive income by lending their assets or providing liquidity to exchanges. Some crypto billionaires are leveraging their expertise to the fullest by launching and attracting significant investment in exciting projects that solve real-world problems or provide new experiences. Some people.
The world of cryptocurrencies is changing rapidly, and these billionaires recognize that staying on top of market trends is the key to continued success.
Estimating the number of crypto millionaires
How many crypto billionaires are there in the world? According to a 2024 report by New World Wealth and Henley&Partners, 172,300 individuals worldwide currently hold crypto assets worth $1 million or more .
The number of billionaires who exclusively own Bitcoin has more than doubled compared to last year, reaching 85,400. The increase in wealth in the cryptocurrency industry is observed at all levels. Currently, there are 325 crypto centimillionaires (individuals with crypto assets exceeding $100 million) and 28 crypto millionaires.
Of the six new crypto billionaires who emerged last year, five attributed their wealth to Bitcoin, highlighting Bitcoin's dominant role among long-term investors. It has become.
World Cryptocurrency Asset Statistics | Source: henry & partners
Factors influencing the number of crypto millionaires
The surge in wealth in the cryptocurrency space can be traced to the growth of Bitcoin ETFs, which have attracted institutional investors and amassed more than $50 billion in assets since their introduction in January 2024.
Moreover, just in March of this year, Bitcoin (BTC) soared to an all-time high of around $73,750, which helped the total market value of crypto assets rise to $2.43 trillion at the time of writing. There is no doubt that this growth has made many crypto holders wealthier. Although some coins have yet to recover to their 2021 peak values, acceptance of cryptocurrencies by major companies such as BlackRock and Fidelity could further increase the wealth of those with large investments. .
Who are the top cryptocurrency whales?
According to Forbes, the list of crypto whales includes prominent exchange founders, blockchain platform developers, and other influential figures closely connected to the crypto scene. Here are the five richest people.
Paolo Ardoino
Paolo Ardoino is a notable player in the world of cryptocurrencies, becoming CEO of Tether in 2023. His career began in 2014 as a senior software developer at Bitfinex and has since expanded its stablecoin offering and contributed to the growth of Tether. and strengthening blockchain infrastructure. Ardoino's net worth is estimated as follows. $3.9 billion.
michael saylor
Michael Saylor is the founder and CEO of MicroStrategy, a business analytics software company. Since 2020, he has passionately championed Bitcoin and led his company to make bold acquisitions in the cryptocurrency. This innovative approach has enabled MicroStrategy to stand out as a leading publicly traded company in the ever-evolving cryptocurrency space. Saylor's net worth is estimated to be $4.4 billion.
Giancarlo Devasini
Giancarlo Devasini co-founded Bitfinex and served as its CEO for a time. Currently, he is the chief financial officer and owns 47% of Tether shares, a position that contributes significantly to his wealth. His net worth is estimated as follows $9.2 billion.
brian armstrong
Brian Armstrong is the founder and CEO of Coinbase, one of the world's largest cryptocurrency exchanges. Easy navigation and strong security have earned Coinbase a loyal following.
In addition to his work on the exchange, Mr. Armstrong actively supports the blockchain community, encourages education, and co-founded the Stand With Crypto movement to advocate for positive regulatory changes. His net worth is estimated as follows $11.2 billion.
Zhao Changpeng
Changpeng Zhao, often referred to as “CZ”, is the founder and former CEO of Binance, the largest cryptocurrency exchange. His wealth stems from his ability to make Binance the premier trading platform and his strategic investments in innovative blockchain projects that are making waves in the industry. Although he stepped down as CEO following an agreement with the U.S. Department of Justice, his influence as the leader of the crypto whale remains strong. Mr. Zhao's net worth is estimated $33 billion.
count the millionaires
In summary, there are approximately 85,000 known billionaires in the world, but the true number is difficult to ascertain due to the built-in features of pseudonymity or anonymity in virtual currency technology.
The wealth of crypto whales reflects not only their personal success but also the growing importance of digital assets in the global economy.
