The number of digital asset millionaires has nearly doubled over the past year. According to a recent report by Henley & Partners, using data from New World Wealth, there are now 172,300 people worldwide who hold more than $1 million in cryptocurrencies. That’s a stunning 95% increase from 2023!
Bitcoin millionaires have seen even more dramatic growth. Their numbers have more than doubled, reaching 85,400. This represents an impressive 111% rise, as noted in the report.
This surge in wealth aligns with significant price increases for Bitcoin and other leading cryptocurrencies. Right now, Bitcoin is priced at $61,800. That’s a remarkable 136% increase over the past year. Just a year ago, Bitcoin closed trading at under $43,000 and was priced just above $26,000.
The report highlights the impact of Bitcoin exchange-traded funds (ETFs) and Ethereum equivalents. The approval of these funds has unleashed a wave of institutional investment. As cryptocurrencies gain traction, a new class of high-net-worth individuals is emerging. The number of centi-millionaires has grown by 79%, now totaling 325. Additionally, there are now 28 crypto billionaires, up 27% from last year.
In January, the Securities and Exchange Commission (SEC) made Bitcoin more mainstream by approving Bitcoin ETFs. These funds allow people to buy shares that track the price of Bitcoin and other assets. They simplify investing in cryptocurrencies, which can often be complicated.
Major firms like BlackRock and Fidelity have launched funds that make it easier for investors to get involved. In May, the SEC also approved Ethereum ETFs, which began trading in late July. Both Bitcoin and Ethereum funds have attracted significant interest since their launches.