Bitcoin Millionaires Surge 100% in 2024

The number of Bitcoin millionaires worldwide has surged by 111% over the past year, with 85,000 individuals now holding over $1 million in BTC, according to a recent wealth survey.

The Crypto Wealth Report 2024 from Henley and Partners revealed that by July 30, the number of people with more than $1 million in Bitcoin had more than doubled to 85,400.

This increase wasn’t limited to Bitcoin holders.

Globally, 172,300 people now have over $1 million in cryptocurrency, a 95% rise from 88,200 at the same time last year.

The report also highlighted significant growth among the wealthiest crypto holders.

The number of crypto centi-millionaires—those with over $100 million in cryptocurrency—grew by 79% to 325.

Additionally, six new crypto billionaires emerged over the past year, bringing the total number of individuals with nine-figure crypto holdings to 28.

The report noted that it rounded the millionaire statistics to the nearest hundred and measured growth from July 1, 2023, to June 30, 2024.

The figures in the 2024 report were derived from a combination of “in-house wealth tier models” and publicly available data from major crypto platforms like CoinMarketCap, Binance, BscScan, and Etherscan.

Andrew Amoils, head of research at New World Wealth, pointed out that while the "millionaire band" in crypto saw the most significant growth, the rise in the number of billionaires was largely driven by Bitcoin.

“Of the six new crypto billionaires created over the past year, five came from Bitcoin, underscoring its dominant position when it comes to attracting long-term investors who buy large holdings,” Amoils stated on August 27.

Bitcoin’s price has increased by 142% over the last year, rising steadily from $26,100 on August 27, 2023, to $63,100 at the time of publication, according to TradingView data.

Dominic Volek, the firm’s head of private clients, attributed the rapid increase in the number of new millionaires and the broader crypto market rally to the introduction of spot Bitcoin exchange-traded funds.

On August 26, spot Bitcoin products saw over $200 million in fresh inflows, marking the largest single day of inflows in the past 35 days.

Sources:

https://cointelegraph.com/news/bitcoin-millionaires-surge-111-in-year-amid-crypto-rally

https://www.henleyglobal.com/publications/crypto-wealth-report-2024

https://www.henleyglobal.com/newsroom/press-releases/crypto-wealth-report-2024

https://www.tradingview.com/symbols/BTCUSD/?exchange=COINBASE