The total market value of crypto assets has surged to approximately $2.3 trillion, marking a significant increase of 89% from $1.2 trillion at the start of last year. This surge is primarily attributed to the rising popularity and prices of cryptocurrencies, particularly Bitcoin, which has seen its price soar from $42,600 at the end of the previous year to an average of $62,000 currently.
According to a recent report by Henley & Partners, the number of individuals holding more than a million dollars in cryptocurrency has skyrocketed by 95% in the past year, bringing the total to 172,300 millionaires worldwide. Notably, the ranks of Bitcoin millionaires alone have grown by 111%, reaching 85,400 individuals.
The report also highlights a notable expansion in the upper echelons of cryptocurrency wealth. The number of millionaires with crypto holdings exceeding $100 million has increased by 79%, totaling 325 individuals. Furthermore, the count of cryptocurrency billionaires has risen by 27%, now standing at 28 globally.
Dominic Volek, head of the private client group at Henley & Co., emphasized that the introduction of cryptocurrency exchange-traded funds in major financial markets has played a pivotal role in this rapid growth. He also noted that Bitcoin's remarkable ascent, reaching over $73,000 in March, marks a new high in its trajectory.
