Over 170,000 People Now Hold Millions in Cryptocurrencies, Doubling from Last Year—Richest Among Them is a Notorious Criminal

According to a recent report by Henley & Partners and New World Wealth, the number of individuals worldwide holding over $1 million in cryptocurrency has surged by 95% in the past year, reaching 172,300. This increase is attributed to the growing value of Bitcoin and other digital assets, alongside the introduction of Bitcoin spot ETFs.

The report highlights that nearly half of these cryptocurrency millionaires, about 85,400, have invested solely in Bitcoin. This figure marks a more than twofold increase compared to the previous year, underscoring Bitcoin’s prominent role in the cryptocurrency wealth accumulation.

Read more: Former Binance CEO Changpeng Zhao to be released from US prison on September 29

Rise in Billionaires and High Net-Worth Individuals

The number of cryptocurrency billionaires—those with assets exceeding $100 million—has risen by 79% to 325. Additionally, the number of billionaires holding over $1 billion in cryptocurrency has grown by 27% to 28 individuals. This growth reflects the significant expansion of Bitcoin spot ETFs, which have amassed over $50 billion in assets since their launch in January. Despite Bitcoin's ongoing volatility, its price has surged by over 40% this year, contributing to the increase in overall cryptocurrency market value, which has risen from $1.2 trillion to $2.3 trillion since last summer.

New Crypto Billionaires

Over the past year, six new cryptocurrency billionaires have emerged, with five attributing their newfound wealth largely to Bitcoin. Andrew Amoils, Research Director at New World Wealth, noted that Bitcoin continues to attract substantial long-term investors.

Top Cryptocurrency Billionaires

As of now, Zhao Changpeng, the founder and former CEO of Binance, tops the list with a net worth of $60.1 billion. His fortune has increased by $27 billion in the past four months alone. Following him is Giancarlo Devasini, CFO of Tether, with a net worth of $9.2 billion, and Coinbase co-founder Brian Armstrong, with $8.9 billion. Michael Saylor, co-founder of MicroStrategy, rounds out the top four with a net worth of $4.4 billion.

Notably, the Bitcoin creator Satoshi Nakamoto, who mined a significant amount of Bitcoin during the network’s early days, holds approximately 1.1 million BTC, valued at around $69.3 billion. This figure far exceeds Zhao’s net worth but is not included in Forbes’ ranking.

Read more: Changpeng Zhao CZ Becomes Richer After Imprisonment! Fortune Magazine Estimates: His Wealth Soared by $4.1 Billion in a Week

Singapore ranks first in "Cryptocurrency Acceptance Index"

The report also highlights shifts in lifestyle and residency among cryptocurrency millionaires. Many are seeking countries that offer favourable tax and regulatory environments for their digital assets. Dominic Volek, Head of Private Clients at Henley & Partners, observed a growing trend towards relocating to "tax-friendly" and "crypto-friendly" jurisdictions. The newly created Cryptocurrency Adoption Index ranks Singapore at the top due to its supportive banking system, comprehensive regulations including the Payment Services Act, and alignment with global standards. Hong Kong follows in second place, with the United Arab Emirates and the United States also featured prominently.