Bitcoin Millionaires Surge 111% to 85400 as ETFs and Friendly Regulations Fuel Adoption

According to Henley & Partners Crypto Wealth Report, Bitcoin millionaires have increased by over 111% from 2023 to 85400, accounting for 49.6% of crypto millionaires in 2024.

The number of Bitcoin (BTC) millionaires has surged by over 111%, rising from 40500 in 2023 to 85400 in 2024, according to the latest Henley & Partners Crypto Wealth Report. This group now comprises 49.6% of crypto millionaires in 2024. Notably, five out of the six new crypto billionaires this year also derived their fortunes from Bitcoin.

Key Takeaways:

Crypto millionaires surged by 95% compared to last year’s figures.

ETFs and favorable regulations contribute to the increase in Bitcoin millionaires.

In the United States, the approval of 11 spot Bitcoin ETFs has played a role in boosting Bitcoin adoption and the number of millionaires. This preference is driven by the ease of investing in funds rather than trading directly on centralized exchanges. To date, nearly $20 million has been invested in these ETFs, highlighting the strong interest in their spot products and services.

Countries such as Singapore and the United Arab Emirates (UAE) are fostering crypto adoption through progressive regulations. In the UAE, for example, zero capital gains taxes have been introduced, and residents of Dubai can now trade cryptocurrencies directly with their bank accounts.

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