Global Crypto Wealth Study Reveals 6 Bitcoin Billionaires and 88,000 Crypto Millionaires

Despite the current crypto bear market, certain individuals seem to be navigating the waters expertly.

A recent report by Henley & Partners reveals that the world currently plays host to six Bitcoin billionaires and 22 billionaires whose holdings are spread across multiple cryptocurrencies.

While the study doesn’t divulge any information about the identity of these individuals, some of the most famous crypto billionaires include Binance CEO Changpeng ‘CZ’ Zhao, Coinbase CEO Brian Armstrong, and Ripple co-founder Chris Larsen.

The study also reveals that there are 88,200 individuals worldwide who hold over $1 million in cryptocurrencies. Of these, almost half—40,500—have Bitcoin holdings exceeding $1 million.

If those figures seem high, they have to be put in perspective. “Considering the over 20 million global millionaires, based on net investable wealth (comprising listed equities, cash, and property holdings), crypto millionaires make up only a tiny portion,” a spokesperson for Henley & Partners told Decrypt.

In addition, 78 individuals are Bitcoin centi-millionaires, holding over $100 million in the cryptocurrency, while 182 hold $100 million or more across multiple cryptocurrencies.

“Bitcoin millionaires constitute approximately 46% of all crypto millionaires but only 27% of crypto billionaires,” a Henley & Partners spokesperson told Decrypt. “This disproportion arises chiefly from the substantial holdings of original investors and founders in alternate cryptocurrencies.”

The U.S. leads the pack with the most crypto millionaires, trailed by India, China, Brazil, and Russia.

The report drew on public information shared by large crypto holdings from major platforms such as Binance, CoinMarketCap, and Etherscan. It also took into account Henley & Partners' in-house wealth tier models, which benchmark billionaires, centi-millionaires, and other high-net-worth individuals using a progressive Lorenz curve distribution.

Crypto's Soaring Adoption

The report also takes a look at the wider crypto market, with Henley & Partners analysts arguing that crypto represents the “pinnacle of trade and technology over the past three decades,” and highlighting the technology's endurance, as well as the savings it offers for businesses.

Their analysis likens the current scenario facing crypto to the dotcom bubble of the late 1990s and early 2000s, recalling Amazon's 93% value drop during the crisis.

The report also identifies countries that are becoming crypto hotspots, including Portugal and Montenegro, and concludes with a Crypto Adoption Index detailing nations with the highest adoption rates.

Elaborating on the index, Henley & Partners described it as a reflection of “the prime investment migration program choices for crypto investors.”

Singapore emerged as the frontrunner, with Switzerland and the UAE trailing closely. The U.S. and U.K. secured fifth and seventh positions, while the top ten also included Australia, Canada, Malta, and Malaysia.

Notably, Singapore and the UAE garnered praise for their tax-friendly policies for crypto enthusiasts.

While public interest in crypto is high in the U.S. and UK, both nations lagged in tax-friendliness, according to the report. Nevertheless, they outperformed in specific areas: the U.S. dominated in infrastructure adoption, examining the prevalence of crypto ATMs and integration by local banks. Meanwhile, the UK clinched the lead in innovation and tech.