The number of crypto millionaires worldwide has skyrocketed by 95% in the past year, according to a new report from New World Wealth and Henley & Partners.
According to the report, crypto wealth has grown substantially, with 325 individuals now recognized as crypto centimillionaires—those holding $100 million or more in digital assets—and 28 crypto billionaires. Over 172,300 people across the globe now possess over $1 million in cryptocurrency, a significant increase from 88,200 in 2023. Also, the number of Bitcoin millionaires more than doubled during this period, reaching 85,400.
The report noted that the surge is largely attributed to the rise of spot Bitcoin exchange-traded funds (ETFs) and the growing adoption of other cryptocurrencies.
Commenting on the data in an interview with CNBC, Andrew Amoils, head of research at New World Wealth, highlighted that five out of the six new crypto billionaires created in 2023 have amassed their fortunes through Bitcoin. He emphasized Bitcoin’s “dominant position” in attracting long-term investors inclined to acquire substantial holdings.
The report also noted how cryptocurrency is transforming global wealth distribution and shifting the demographics of where the affluent reside. A marked increase in crypto millionaires relocating to tax-friendly and crypto-friendly countries was also observed. There has been a “significant rise” in wealthy crypto clients seeking alternative residency and citizenship options as they look for more favourable environments to live and work.
Meanwhile, Henley & Partners introduced an index to rank countries by their tax and regulatory environments, placing Singapore at the top. Singapore earned this position due to its
“supportive banking system, significant investment, comprehensive regulations like the Payment Services Act, regulatory sandboxes, and alignment with global standards.”
Hong Kong follows in second place, with the United Arab Emirates and the U.S. also ranking among the leading destinations for crypto investors.
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