We’ve all heard stories about people who bought bitcoin or another cryptocurrency and became millionaires, seemingly overnight. But how many crypto millionaires does the world currently have?
Henley & Partners decided to find out. The global firm — which specializes in residence and citizenship through investing — used data from global wealth intelligence firm New World Wealth as well as academics and industry experts to arrive at a number: 88,200 crypto millionaires worldwide as of the end of June 2023.
Underwhelmed by that number? Indeed, it represents just a teeny tiny share of the total number of millionaires in the world: 59.4 million as of the end of 2022, according to recent data from Credit Suisse and UBS.
Of the world’s 88,200 crypto millionaires, nearly half — 40,500 — made the bulk of their cryptocurrency gains through investing in bitcoin.
Worldwide, 425 million people own cryptocurrency, and the total market for the digital money is $1.18 billion.
Looking at the richest owners of cryptocurrency, 182 are crypto centi-millionaires, meaning their crypto holdings are worth $100 million or more per person. Of that group, 78 made their fortune primarily on bitcoin.
There are also 22 cryptocurrency billionaires, with six of those folks amassing their wealth via bitcoin.
Before you rush to try to join the ranks of the world’s cryptocurrency millionaires, it’s important to remember that investing in the digital money can be a risky business.
For example, the value of bitcoin has surged around 55% this year but remains about 62% lower than its all-time high of $68,990, which it reached in November 2021.
To get Money Talks News founder Stacy Johnson’s take, check out “Everything You Want to Know About Crypto But Were Afraid to Ask.”