February 9, 2025
News

The Number of Crypto Millionaires Has Boomed

A recent report by consultancy Henley & Partners revealed that the number of cryptocurrency millionaires nearly doubled this year, driven by rising prices and increased investments. The study showed that 172,300 people now hold more than $1 million in crypto assets—up 95% from 2023. The number of Bitcoin millionaires also more than doubled to 85,400.

In addition, the report highlighted a 79% increase in the number of crypto centi-millionaires (those with $100 million or more), bringing the total to 325. Meanwhile, the number of crypto billionaires rose by 27% to 28 individuals.

Globally, an estimated 34% of people aged 24 to 35 own cryptocurrencies, making this age group the largest demographic of crypto holders, according to Henry Burrows, founder of UK-based blockchain analytics firm Hoptrail.

The total market value of crypto assets surged by 89% to $2.3 trillion. Dominic Volek, group head of private clients at Henley & Partners, noted that the introduction of crypto exchange-traded funds (ETFs) significantly boosted institutional investments. He emphasized that the approval of spot Bitcoin and Ethereum ETFs in the U.S. has unleashed substantial institutional capital.

Bitcoin’s value more than doubled over the past year, while Ether and Dogecoin saw gains of around 50%. Volek described the cryptocurrency landscape in 2024 as vastly different from previous years, with Bitcoin hitting an all-time high of over $73,000 in March.