The Number of Crypto Millionaires Soared in 2024

Key Takeaways

• A report from consultancy Henley & Partners found the number of people with more than $1 million in cryptocurrencies nearly doubled this year.
• The study also showed a jump in those who held $100 million and $1 billion in crypto.
• Dominic Volek, of Henley & Partners, said along with higher prices, the introduction of exchange-traded crypto funds boosted institutional investments.

A new study showed the number of cryptocurrency millionaires nearly doubled in the past year as the number of people investing in digital currency increased and prices climbed.

British investment migration consultancy Henley & Partners found 172,300 individuals held more than $1 million in crypto assets this year, 95% more than in 2023. The number of Bitcoin millionaires more than doubled, to 85,400.

The report said there were 325 crypto centi-millionaires — those with $100 million or more, a 79% increase — and 28 crypto billionaires, a rise of 27%.

An estimated 34% of 24–to-35-year-olds globally own crypto. This age group is by far the largest cohort of crypto holders, said Henry Burrows, founder of Hoptrail, a UK-based blockchain analytics firm.

The total market value of crypto assets increased 89% to $2.3 trillion, Henley & Partners said.

Dominic Volek, group head of private clients at the firm, said that along with soaring prices, the introduction of crypto exchange-traded funds (ETFs) was a game-changer.

“The cryptocurrency landscape of 2024 bears little resemblance to its predecessors,” he said. “Bitcoin’s rise to over USD 73,000 in March set a new all-time high, while the long-awaited approval of spot Bitcoin and Ethereum ETFs in the USA unleashed a torrent of institutional capital.”

Over the past year, Bitcoin’s value more than doubled. The values of Ether and Dogecoin were up about 50%.

According to the report by Henley & Partners, the number of cryptocurrency millionaires has seen a significant surge in 2024. The study revealed that the number of individuals holding more than $1 million in crypto assets reached 172,300, marking a 95% increase compared to the previous year. Notably, the number of Bitcoin millionaires more than doubled, reaching 85,400.

Furthermore, the report highlighted that there were 325 crypto centi-millionaires, individuals with $100 million or more in crypto assets, representing a 79% increase. Additionally, there were 28 crypto billionaires, marking a 27% rise. These findings indicate the growing wealth accumulation within the cryptocurrency market.

One notable trend identified in the study is the significant ownership of crypto assets among the 24–to-35-year-old age group. It is estimated that 34% of individuals within this age range globally own cryptocurrencies. This demographic represents the largest cohort of crypto holders, according to Henry Burrows, founder of Hoptrail, a UK-based blockchain analytics firm.

The total market value of crypto assets also experienced substantial growth, increasing by 89% to reach $2.3 trillion, as reported by Henley & Partners. This surge in market value can be attributed to the rising prices of various cryptocurrencies.

Dominic Volek, group head of private clients at Henley & Partners, emphasized the impact of the introduction of crypto exchange-traded funds (ETFs) on institutional investments. Volek stated that the approval of spot Bitcoin and Ethereum ETFs in the USA played a significant role in attracting institutional capital to the cryptocurrency market. This development, coupled with the soaring prices of cryptocurrencies, has transformed the cryptocurrency landscape in 2024.

Over the past year, Bitcoin’s value has more than doubled, reaching over $73,000 in March. Additionally, the values of Ether and Dogecoin have increased by approximately 50%. These substantial price increases have contributed to the growing number of crypto millionaires and billionaires.

The surge in the number of cryptocurrency millionaires and the overall market value of crypto assets in 2024 indicate the growing popularity and adoption of digital currencies. As more individuals and institutions recognize the potential of cryptocurrencies, the market is expected to continue its upward trajectory.

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