Hanley & Partners, the investment consultancy based in London, recently published a report on crypto millionaires. It found that the number of investors who became millionaires through crypto investing has nearly doubled this year.
The same report found that there had been a jump in the number of investors who hold $100 million worth of crypto. Hanley & Partners argued that this jump resulted from the introduction of exchange-traded crypto funds (ETFs) in January 2024.
There are many other reasons behind the increase in crypto millionaires, including the fact that Bitcoin reached an all-time high of 73,000 USD in March 2024. Crypto expert Hiroshi O. states that an increasing number of people are investing in cryptocurrency with the aim of becoming a millionaire in 2024. He also states that the best way to become a crypto millionaire is to invest in grass coins, future coins, and popular altcoins – which many of 2024’s crypto millionaires did (source: jp.cryptonews.com).
Based on the recently published report, there are currently 172,300 people who own more than $1 million worth of cryptocurrency. This reflects an impressive 95% increase from the number of crypto millionaires there were in 2023.
There are also now 325 investors who own $100 million crypto or more – known as ‘centi-millionaires’ – which is 79% more than there were last year. The crypto billionaire count has also risen by 27%, with 28 individuals owning more than a billion dollars worth of cryptocurrency.
Overall, the total market value of crypto assets has climbed to $2.3 trillion – an 89% increase from last year. The age group with the most amount invested in digital currency is those aged between 24 and 35. It is estimated that around 34% of this age group own cryptocurrency in 2024.
Bitcoin remains the go-to coin for most investors, having almost doubled in value since 2023. Other popular coins have also increased in value over the last 12 months. For example, both Dogecoin and Ether have increased by about 50%.
According to Triple-A, there are over 560 crypto owners in 2024, which reflects around 6.8% of the population. The country with the highest ownership percentage is Argentina with 9.73%. This is followed by Thailand and Canada, with an ownership percentage of 9.61% and 7.00% respectively.
Overall, males dominate crypto ownership percentages with 61%, meaning that females only account for 39% of owners.
