The world of digital assets has entered a new era of mainstream adoption and unprecedented wealth creation. In 2024, the number of cryptocurrency millionaires has skyrocketed, marking a pivotal moment in the evolution of decentralized finance. According to the 2024 Cryptocurrency Wealth Report by Henley & Partners, there are now 172,300 individuals globally holding over $1 million in crypto assets—a staggering 95% increase from the previous year. Among them, Bitcoin millionaires have surged by 111%, reaching 85,400 in total.
This explosive growth reflects a broader transformation in how wealth is generated, stored, and managed. The total market capitalization of cryptocurrencies has reached $2.3 trillion**, up **89%** from $1.2 trillion in the prior year. Even at the highest echelons of wealth, the numbers tell a compelling story: 325 crypto billionaires (those holding over $100 million in digital assets) now exist—a **79% rise**—while ultra-elite holders with over **$1 billion in crypto have grown by 27% to 28 individuals worldwide.
Institutional Adoption Fuels the Boom
A major catalyst behind this surge is the increasing involvement of institutional investors. The approval of spot Bitcoin and Ethereum ETFs in the U.S. has opened the floodgates for traditional financial capital to flow into the crypto ecosystem. Dominic Volek, Head of Private Clients at Henley & Partners, emphasized that “2024’s crypto landscape bears little resemblance to previous years.” He noted that Bitcoin’s price突破 of $73,000 in March—a new all-time high—coincided with regulatory milestones that legitimized digital assets in mainstream finance.
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These ETF approvals have not only boosted investor confidence but also laid the foundation for further innovation. Market expectations are building around potential Solana ETFs, signaling that Wall Street’s embrace of crypto is far from over. As Volek put it, “We are witnessing a new era where digital assets are increasingly intertwined with traditional finance and global liquidity.”
Bitcoin Dominates Long-Term Wealth Creation
While multiple cryptocurrencies contribute to wealth generation, Bitcoin remains the primary driver. Andrew Amoils, Head of Research at New World Wealth, highlighted that five out of the six new crypto billionaires added in the past year were Bitcoin-focused. This underscores Bitcoin’s role as a store of value and its appeal to long-term investors seeking substantial holdings.
Bitcoin’s scarcity model, decentralized nature, and growing acceptance as a macro hedge against inflation have solidified its position as the cornerstone of crypto portfolios. Its performance continues to outpace other asset classes, attracting both retail and institutional capital.
The Rise of a Digital Asset Ecosystem
Though Bitcoin leads in wealth concentration, the broader crypto ecosystem thrives on innovation—much of it built on Ethereum. Lark Davis, cryptocurrency investor and founder of Wealth Mastery, stressed that “Ethereum is the centerpiece of the market.” From decentralized finance (DeFi) to non-fungible tokens (NFTs) and smart contracts, most blockchain applications rely on Ethereum’s infrastructure.
This interconnected ecosystem allows liquidity to flow across platforms, creating compounding value. Developers continue to build on Ethereum’s foundation, reinforcing its status as more than just a currency—it's a platform for financial transformation.
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Global Mobility and Citizenship Demand Soar
With wealth increasingly held in borderless digital assets, high-net-worth crypto holders are rethinking their physical and legal affiliations. Henley & Partners observed a significant rise in demand for alternative residency and citizenship options among crypto millionaires.
To better understand this trend, the firm launched the second edition of the Henley Crypto Adoption Index, which evaluates investment migration programs through the lens of crypto investors. The index assesses key factors such as public adoption, regulatory environment, infrastructure, innovation, economic stability, and tax policies.
Top Jurisdictions for Crypto-Friendly Migration
- Singapore leads the index with a score of 45.7 out of 60, thanks to its robust technological infrastructure, forward-thinking regulations, and strong support for fintech innovation.
- Hong Kong (SAR China) ranks second, known for its dynamic economy and investor-friendly tax system.
- The United Arab Emirates (UAE) secures third place, driven by zero capital gains tax and rapid development of its digital economy.
A critical advantage shared by all three: no capital gains tax on crypto transactions. This makes them especially attractive destinations for digital asset holders looking to optimize their financial strategies while gaining global mobility.
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Frequently Asked Questions
Q: What caused the surge in cryptocurrency millionaires in 2024?
A: The primary drivers include the approval of spot Bitcoin and Ethereum ETFs, increased institutional investment, rising asset prices (especially Bitcoin), and broader global acceptance of digital assets as legitimate financial instruments.
Q: How many people are now crypto billionaires?
A: As of 2024, there are 325 individuals holding over $100 million in cryptocurrency—a 79% increase from the previous year.
Q: Why are crypto investors seeking new citizenship or residency?
A: Because cryptocurrency is a borderless asset, holders often seek jurisdictions with favorable tax policies (like no capital gains tax), strong digital infrastructure, and political stability—factors assessed in the Henley Crypto Adoption Index.
Q: Which country is most crypto-friendly for investors?
A: Singapore ranks highest due to its advanced tech ecosystem, clear regulatory framework, and pro-innovation policies. Hong Kong and the UAE also rank highly for their tax advantages and growing digital economies.
Q: Is Bitcoin still the dominant force in crypto wealth?
A: Yes. Of the six new crypto billionaires added last year, five were primarily Bitcoin holders. Its role as a long-term store of value continues to attract major investors.
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Conclusion
The rise of over 172,000 cryptocurrency millionaires in 2024 signals a fundamental shift in wealth dynamics. Enabled by technological innovation, regulatory progress, and institutional adoption, digital assets are no longer niche investments—they are central to modern wealth creation.
From Bitcoin’s dominance to Ethereum’s ecosystem strength, and from ETF breakthroughs to global migration trends, the crypto economy is maturing rapidly. As more individuals accumulate life-changing wealth through blockchain technology, the demand for smart financial planning, secure custody solutions, and strategic residency options will only grow.
The gold rush may be digital now—but the rewards are very real.