Key Points
- The number of crypto millionaires rose by 95% in 2024, with 172,300 individuals holding over $1 million in crypto assets.
- Spot Bitcoin ETFs and other cryptocurrencies are largely responsible for this surge in crypto wealth.
In 2024, the number of individuals with over $1 million in crypto assets nearly doubled, reaching 172,300.
This surge in crypto wealth was primarily driven by the rise of spot Bitcoin ETFs and other cryptocurrencies.
Growth in Crypto Wealth
According to a research report by New World Wealth and Henley & Partners, the global population of crypto millionaires increased by 95% over the past year.
The number of Bitcoin (BTC) millionaires more than doubled to 85,400 during the same period.
The report also reveals a significant rise in crypto centimillionaires – individuals holding $100 million or more in crypto.
There are now 325 such individuals and 28 crypto billionaires.
The rapid increase in crypto wealth is attributed to the growth of spot Bitcoin ETFs, which have accumulated over $50 billion in assets since their January launch, sparking a surge in institutional participation.
Shift in Wealth Demographics
Crypto wealth is not only increasing but also reshaping the demographics of where the wealthy live and work.
Many newly wealthy crypto individuals are looking to relocate to tax-friendly and crypto-friendly jurisdictions.
Henley & Partners have observed a significant increase in crypto-wealthy clients seeking alternative residence and citizenship options.
To rank countries based on their tax and regulatory environments, Henley & Partners developed an index.
Singapore ranks first due to its supportive banking system, significant investment, comprehensive regulations such as the Payment Services Act, regulatory sandboxes, and alignment with global standards.
Following Singapore, Hong Kong ranks second, with the United Arab Emirates and the U.S. also among the top destinations.
