A press release report published by Henley & Partners on August 27 2024, shows that Bitcoin millionaires have doubled over 111% in 2024. There are now 85,400 Bitcoin millionaires, 111% higher than the approximately 40,500 millionaires last year, 2023.
On the general crypto assets, there are now over 172,300 individuals worldwide who have over 1 million USD in crypto assets, which is over a 95% increase compared to last year.
The number of centi-millionaires has also almost doubled; there are now 325 individuals with over 100 million USD in crypto assets. Those with nine figures (crypto billionaires) have also increased to 28, which is a 27% increase in the last year.
The table below shows the statistics of individuals with over a million dollar crypto assets and total crypto users globally.
The total number of crypto users has increased by over 32% to 560 million users in 2024 compared to 2023. The total crypto market capitalization is now over $1.9 trillion as of the time of writing this news article, which is more than 92% of last year’s market cap, which was around $1-$1.2 trillion.
The crypto market has soared in 2024 due to multiple reasons. One of the reasons for the market increase is the halving of Bitcoin that occurred in April, which has always been a catalyst for the crypto market.
Another reason for the massive increase in the crypto market is the Spot Bitcoin ETF Approval, which occurred on January 10 2024, and the Spot Ethereum ETF, which occurred on July 23, 2024.
Since the approval of Spot Bitcoin ETF, there has been a total inflow of $14.67 billion to the Bitcoin ETF as of June 2024, and Spot Bitcoin ETF averages a daily inflow of around $140 million.
Likewise, Ethereum has also been experiencing massive inflow through the Spot Ethereum ETF.
