Henley & Partners, an international wealth and investment firm, said the rise in cryptocurrencies, led by Bitcoin, has led to an increase in the number of millionaires.
It stated – in a report issued today, Tuesday – that the world today includes 172.3 thousand individuals, each of whom owns more than one million dollars worth of crypto assets, an increase of 95% compared to last year.
The report stated that the number of Bitcoin millionaires increased by 111% to 85.4 thousand millionaires, after the price of the unit rose from $42.6 thousand at the end of last year to an average of 62 thousand currently.
The number of millionaires included in the report only includes those who are active in the cryptocurrency market.
The total market cap of crypto assets is now $2.3 trillion, up 89%, compared to $1.2 trillion at the beginning of last year.
The upper echelons of crypto wealth also expanded significantly, with the number of crypto millionaires with crypto holdings of $100 million or more rising by 79% to 325.
The rare group of cryptocurrency billionaires rose 27% to 28 billionaires worldwide.
The report quoted Dominic Volek, head of the private clients group at Henley & Partners, as saying that the rapid growth was driven by the introduction of cryptocurrency exchange-traded funds into major financial markets.
“The cryptocurrency landscape of 2024 is very unlike any of its predecessors,” Volek added, according to the report. “Bitcoin’s rally — to over $73,000 in March — hit an all-time high.”
