The number of cryptocurrency millionaires grew by a record 95% during the year

Over the past year, the number of cryptocurrency millionaires in the world has increased by 95%. This is due to the growth in the value of bitcoin and other crypto assets, as well as the emergence of bitcoin ETFs, Forbes writes.

According to a new report by New World Wealth and Henley & Partners, there are currently 172,300 people in the world who own crypto assets worth more than $ 1 million, up from 88,200 last year. The number of millionaires who hold their wealth exclusively in bitcoin BTC $65,724.51 Bitcoin -0.40% Market capitalization $1.3 trillion VOL. 24 hours $0.56 billion has also more than doubled to 85,400.

The ranks of the cryptocurrency rich have grown at all levels. Currently, there are 325 cryptocurrency pentamillionaires (people with assets of more than $ 100 million — ed.) and 28 cryptocurrency billionaires. This growth is underscored by the rapid proliferation of bitcoin ETFs, which have attracted more than $ 50 billion in assets since their launch in January, leading to a significant increase in institutional participation in the cryptocurrency market.

Over the past year, six new cryptocurrency billionaires have emerged, five of whom owe their wealth to bitcoin, which once again confirms its dominant position among long-term investors.

For the third year in a row, Чанпен Чжао" href="https://noworries.news/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao, the founder and former CEO of Binance, has been the richest cryptocurrency billionaire. His fortune is estimated at $ 33 billion. Over the past year, Zhao’s wealth has grown by more than $ 10.5 billion, despite the fact that he pleaded guilty to money laundering charges in the United States and agreed to pay a $ 50 million fine.

Brian Armstrong, co-founder of Coinbase, is second in the ranking of the richest with an estimated net worth of $ 11 billion. He is followed by Giancarlo Devasini, CFO of Tether, and Сейлор" href="https://noworries.news/biography/majkl-dzh-sejlor/" data-bio-id="3672">Michael Saylor, co-founder of MicroStrategy.

Although many cryptocurrency assets have yet to reach their peak values, which were last seen back in 2021, the adoption of crypto assets by large institutional players such as BlackRock and Fidelity could spur further growth in the wealth of large crypto holders. According to Henley & Partners, the new cryptocurrency wealthy are actively looking for tax and crypto-friendly jurisdictions to live and work in.