The 2024 cryptocurrency bull market has generated over 88,000 new crypto millionaires and six crypto billionaires, according to a report by New World Wealth and Henley & Partners. The report highlights a significant increase in global crypto wealth, with 172,000 individuals now holding more than $1 million in cryptocurrency—a 95% rise compared to last year.
This surge in wealth follows a market rally that saw Bitcoin (BTC) reach an all-time high of $73,800 in March. Boosted by bullish sentiment and the introduction of several U.S. spot exchange-traded funds (ETFs), Bitcoin has enjoyed its strongest growth since 2020, when it was valued at $42,500.
The report also notes a 79% increase in the number of centi-millionaires—individuals with assets exceeding $100 million—bringing the total to 325. Bitcoin played a pivotal role in the rise of crypto billionaires, with five out of the six new billionaires achieving their status through Bitcoin investments.
In addition to accumulating digital wealth, many crypto investors are seeking residency in crypto and tax-friendly jurisdictions. Singapore has emerged as the leading cryptocurrency hub, praised for its robust regulatory framework and infrastructure. The United Arab Emirates ranks third, offering significant tax advantages.
“The crypto millionaires of 2024 are not content with digital riches alone; they seek the freedom of global mobility to match their borderless assets,” said Dominic Volek, group head of private clients at Henley & Partners.
