The global cryptocurrency market has experienced a notable surge, leading to a dramatic increase in the number of crypto millionaires. Based on the information from a new report by Henley & Partners and New World Wealth, the ranks of individuals holding over $1 million in digital assets have grown by 40 per cent in a single year, reaching a total of 241,700 worldwide as of June.
This growth is largely attributed to a “watershed year for institutional adoption” and a strong price rally in Bitcoin and the broader crypto market. The total valuation of the crypto market has jumped by 45 per cent to $3.3 trillion. A significant portion of this new wealth is concentrated in Bitcoin, which saw a 70 per cent year-on-year increase in its millionaire count, bringing the total to 145,100.
Rise in millionaires, centimillionaires
The report also reveals a notable rise in ultra-high-net-worth individuals. The number of “centimillionaires,” those with crypto holdings of $100 million or more, has increased by 38 per cent to 450. Similarly, the number of crypto billionaires has climbed to 36, a 29 per cent jump from the previous year.
The study’s authors suggest that this wealth surge is prompting a fundamental shift in how affluent investors manage their assets. They noted that cryptocurrencies are increasingly being viewed as a genuine store of value and are being used as collateral.
This trend, combined with the borderless nature of crypto wealth, poses a unique challenge to traditional financial systems and governments, which have historically relied on a geographical link for tracking and taxation.
US leads crypto adoption, Singapore has best infrastructure
The report also includes a “Cryptocurrency Adoption Index,” which ranks countries based on their crypto-friendliness. The United States leads in public adoption, while Singapore and Hong Kong are recognised for their robust infrastructure and regulatory environments. This data indicates that a supportive and clear regulatory framework is a key driver for attracting high-net-worth individuals and fostering a healthy crypto ecosystem.
