The cryptocurrency market has experienced explosive growth in 2024, creating a substantial number of new millionaires. According to the Crypto Wealth Report 2024 by Henley & Partners, there are now 172,300 individuals worldwide holding over $1 million in crypto assets, representing a 95% increase compared to the previous year[1][2].

Bitcoin Millionaires

The number of Bitcoin millionaires has seen an even more dramatic rise, soaring by 111% to reach 85,400[1][4]. This surge can be attributed to Bitcoin’s impressive performance, with its price reaching an all-time high of $73,157 in March 2024[3].

Factors Driving Growth

Several factors have contributed to this remarkable increase in crypto millionaires:

1. Introduction of crypto ETFs in major financial markets
2. Bitcoin’s price surge to over $73,000 in March 2024
3. Approval of spot Bitcoin and Ethereum ETFs in the USA
4. Increased institutional capital flowing into the crypto market

Higher Echelons of Crypto Wealth

The growth in crypto wealth has not been limited to millionaires:

• Crypto centi-millionaires (those with holdings of $100 million or more) increased by 79% to 325[1][4]
• The number of crypto billionaires rose by 27% to 28 globally[1][4]

Impact on Global Mobility

This surge in crypto wealth has led to an increased demand for investment migration programs, with many crypto millionaires seeking alternative residence and citizenship options[4].

The cryptocurrency landscape of 2024 has ushered in a new era of crypto adoption, where digital assets are increasingly intertwined with traditional finance and global mobility[1].

Citations:
[1] https://www.henleyglobal.com/newsroom/press-releases/crypto-wealth-report-2024
[2] https://finance.yahoo.com/news/crypto-bull-market-created-88k-122737259.html
[3] https://money.com/bitcoin-millionaires-increase-best-year-crypto/
[4] https://www.bdtonline.com/news/nation_world/explosive-growth-of-crypto-millionaires-in-2024/article_e1f755fd-45a2-5ff4-a314-42f941ef577e.html
[5] https://nairametrics.com/2024/08/27/crypto-millionaires-population-surged-by-95-in-2024-report/
[6] https://www.henleyglobal.com/publications/crypto-wealth-report-2024
[7] https://www.youtube.com/watch?v=8a8wOEBCyeA

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