The number of Bitcoin (BTC) millionaires increased by 111% over the last year, reaching 85,000.
The Crypto Wealth Report 2024 by Henley and Partners shows that 85,400 people were holding over $1 million worth of Bitcoin as of July 30. This number more than doubled over the previous year.
This growth did not only involve Bitcoin holders. The report also indicates that there are now 172,300 people who hold over $1 million worth of crypto assets. This data point also saw considerable growth, being up 95% from 88,200 reported on the same day last year.
Furthermore, people holding at least $100 million worth of Bitcoin also saw their ranks grow considerably by 79% in a year reaching 325. The number of crypto billionaires also a saw significant uptick, reaching 28 — 27% more than a year ago.
Henley and Partners explained the period considered for the growth goes from July 1, 2023 until June 30, 2024.
Data used in the report used primary industry sources such as CoinMarketCap, Binance, BscScan and Etherscan. New World Wealth head of research Andrew Amoils wrote that new crypto billionaires are mostly just bitcoin holders:
“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.”
Bitcoin saw considerable appreciation over the past year. CoinMarketCap data shows that its price increased by about 137% from $26,000 to its current price just under $62,000.
Now, analysts see potential catalysts for even more future Bitcoin growth. As ReadWrite recently reported, Bitcoin could see benefits if Republican candidate Donald Trump wins the United States presidential race, according to a recent Bernstein Research report. The report read:
“We believe the Bitcoin price would bottom, only if the crypto market catches a bid on a likely Trump win, given [the] crypto market continuing to interpret only a Republican win as positive for crypto policy.”
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