2024 has been a positive year for the cryptocurrency industry. In the eight months that have passed this year, the number of cryptomillionaires has shot up by nearly 100% thanks to the boost the market has received from Bitcoin and Ethereum ETFs.
According to a recent report by Henley & Partners, about 172,300 people around the world are cryptomillionaires.
ETF Boom Boosts the Number of Bitcoin Millionaires
The report, called Crypto Wealth Report 2024, highlights that the boom generated by the approval of Bitcoin and Ethereum ETFs in the United States skyrocketed the number of cryptocurrency millionaires.
Analysts at Henley & Partners highlight that, over the course of this year, they have noted a 95% increase in the number of people who own more than $1 million in cryptocurrencies.
“There are currently 172,300 people worldwide who own more than $1 million in cryptoassets (a 95% increase compared to last year) and the number of Bitcoin millionaires has shot up 111% to 85,400,” the report reads.
That said, the firm highlights that most of the new cryptocurrency millionaires in 2024 are Bitcoin-related investors.
The price of Bitcoin has grown 142% in the last year, rising steadily from a price of USD 26,100 on August 27, 2023, to USD 63,100 at the time of publication of this article.
“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 stakes,” Henley & Partners analysts note.
The report also details the category of “crypto billionaires.” These are investors who own $100 million or more in cryptocurrencies. Additionally, the number of these holders has increased to 325 worldwide.
What’s Next for Cryptocurrency ETFs? Expectations Are Rising!
Crypto Wealth Report 2024 also speculates about what the next cryptocurrency ETF to be licensed in the United States may be. Dominic Volek of Henley & Partners notes that the authorization of the Bitcoin and Ethereum spot ETFs “unleashed a torrent of institutional capital” and that the next fund may be Solana.
“Now the expectation is rising that potential Solana ETFs will join the Wall Street party. These milestones have seeded a new era of cryptocurrency adoption, with digital assets increasingly intersecting with traditional finance and global mobility,” predicts Dominic Volek of Henley & Partners.
According to TradingView data, Bitcoin has recorded growth of 142% over the last year, rising steadily from a price of USD 26,100 on August 27, 2023, to USD 63,100 at the time of publication of this article.
The price of Bitcoin has grown 142% over the last year, rising steadily from a price of USD 26,100 on August 27, 2023, to USD 63,100 at the time of publication of this article.
