Explosive Growth of Crypto Millionaires in 2024
LONDON, Aug. 27, 2024 (GLOBE NEWSWIRE) -- There are now 172,300 individuals worldwide holding over USD 1 million in crypto assets — a 95% increase compared to last year — with the number of Bitcoin millionaires soaring by 111% to 85,400, according to the Crypto Wealth Report 2024 published by international wealth and investment migration specialists Henley & Partners.
The total market value of crypto assets has now reached a staggering USD 2.3 trillion, an 89% increase when compared to the USD 1.2 trillion reported in the firm’s inaugural report last year. The upper echelons of crypto wealth have also expanded dramatically, with the number of crypto centi-millionaires (those with crypto holdings of USD 100 million or more) rising by 79% to 325, and even the rarefied cohort of crypto billionaires seeing a 27% increase to 28 globally.
Dominic Volek, Group Head of Private Clients at Henley & Partners, says the rapid growth has been fueled by the introduction of crypto ETFs in major financial markets, ushering in significant institutional capital. “The cryptocurrency landscape of 2024 bears little resemblance to its predecessors. Bitcoin’s rise to over USD 73,000 in March set a new all-time high, while the long-awaited approval of spot Bitcoin and Ethereum ETFs in the USA unleashed a torrent of institutional capital. Anticipation now builds for potential Solana ETFs joining the Wall Street party. These milestones have seeded a new era of crypto adoption, one where digital assets increasingly cross-pollinate with traditional finance and global mobility.”
Head of Research at New World Wealth, Andrew Amoils, says the millionaire band performed best over the past year, while billionaire growth was much lower and mainly 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.”
Digital gold rush creates sizeable crypto elite
Commenting in the report, António Henriques, CEO of Bison Bank and Chairman of Bison Digital Assets, points out that “in the rapidly evolving world of finance, cryptocurrencies are challenging the dominance of traditional fiat currencies. As these two financial realms intersect, we are witnessing the dawn of a new era in global finance, where the innovative potential of digital assets meets the stability of traditional money.”
Jean-Marie Mognetti, CEO and Co-founder of CoinShares, points out that “the SEC’s approval of spot Bitcoin ETFs marks 2024 as a transformative year for the digital asset industry, paving the way for broader institutional adoption. Bitcoin’s potential to enhance the performance of traditional investment portfolios underscores its growing significance in the financial world.”
While Bitcoin often dominates headlines, Lark Davis, cryptocurrency investor and founder of Wealth Mastery, highlights the critical role of another major player: “Ethereum is a keystone asset of the market. The majority of what is built in crypto is built on Ethereum, based on Ethereum, or bridges liquidity back to Ethereum.” This insight illustrates the complex ecosystem that has developed around cryptocurrencies, extending far beyond simple currency alternatives.
Borderless assets drive demand for global citizenship
Henley & Partners has seen a significant uptick in crypto-wealthy clients seeking alternative residence and citizenship options in 2024. To make sense of this changing crypto landscape, the firm has unveiled its second annual Henley Crypto Adoption Index. This comprehensive tool evaluates investment migration programs through the lens of the crypto investor, considering factors such as public adoption, infrastructure, innovation and technology, regulatory environment, economic factors, and tax-friendliness.
The index showcases Singapore’s continued dominance as the premier cryptocurrency hub, achieving the top score of 45.7 out of 60. Singapore excels in areas such as technological innovation, regulatory framework, and infrastructure development. Following closely is Hong Kong (SAR China), distinguished by its strong economic fundamentals and investor-friendly tax policies. The UAE secures the 3rd position, offering significant tax advantages and a rapidly expanding digital economy. Notably, none of these three countries levies capital gains tax, which is a significant advantage, especially for crypto investors and high-net-worth individuals.
Read the Full Press Release online
Contact:
Sarah Nicklin
Group Head of PR
sarah.nicklin@henleyglobal.com
+27 72 464 8965
- 点脂成金携手北京新颜兴医疗美容医院,共启战略合作新篇章
- 致敬父亲 公益在行动
- 起重工业白色国标丙纶吊装带双扣环形扁平行拖车绳吊车带
- CORE伊士曼服务平台重磅发布CORE Pattern数字机裁功能,重新定义行业服务标准
- 深圳国际全触与显示展聚焦车载显示,助力企业扬帆出海
- 2024和平精英PEN春季总决赛——唐山见证,荣耀之战一触即发
- 三米粥铺幸福行爱心助学,公益善举传递企业温度
- 中老年出现头痛头晕、失眠或嗜睡、健忘易怒等,要警惕多发梗死性痴呆
- 逆龄护肤新选择,馨漫之舍助你春日焕然一新
- CE Channel:为您量身打造全球市场拓展策略!
- 进口洗衣凝珠品牌排行榜前十名,mikibobo洗衣凝珠洗的干净,持久留香
- Atmos Renewables Expands Contract with Fluence to Optimise 870 MW Renewables Portfolio in Australia
- 衡泰信海外合作球馆又添新成员,泰国曼谷Holin Golf球馆开业
- 原来你是这样的Daugge Kemmi :宠物也需要纯净养护
- 杭州出院转院润兴救护车跨城跨省病人护送服务
- 新加坡伊诺保险集团—全球体育保险的创新领航者
- NIQ启动全球媒体部,为客户和合作伙伴赋能
- ETT | iByond™ 与 Capstone 签署价值 8.88 亿美元的合同,助力保险行业实现全球数字化转型
- 联合企业集团——易腾云云电脑系统延迟突破6毫秒技术新闻发布会成功举行
- 为了您的云安全,山石网科微隔离解决方案申请出战!
推荐
- 看新东方创始人俞敏洪如何回应董宇辉新号分流的? (来源:中国证券报) 东方甄选净利润大幅下滑 资讯
- 王自如被强制执行3383万 据中国执行信息公开网消息,近期,王自如新增一 资讯
- 私域反哺公域一周带火一家店! 三四线城市奶茶品牌茶尖尖两年时间做到GMV 资讯
- 产业数字化 为何需要一朵实体云? 改革开放前,国内供应链主要依靠指标拉动,其逻 资讯
- 国足13次出战亚洲杯首次小组赛0进球 北京时间1月23日消息,2023亚洲杯小组 资讯
- 一个“江浙沪人家的孩子已经不卷学习了”的新闻引发议论纷纷 星标★ 来源:桌子的生活观(ID:zzdshg) 没 资讯
- 中国减排方案比西方更有优势 如今,人为造成的全球变暖是每个人都关注的问 资讯
- 中央气象台连发四则气象灾害预警 暴雪橙色预警+冰冻橙色预警+大雾黄色预警+ 资讯
- 男子“机闹”后航班取消,同机旅客准备集体起诉 1月4日,一男子大闹飞机致航班取消的新闻登上 资讯
- 新增供热能力3200万平方米 新疆最大热电联产项目开工 昨天(26日),新疆最大的热电联产项目—&md 资讯