Global Crypto Wealth Report: Crypto Has Already Produced Over 88k Millionaires, More than Half "Outside" Bitcoin

Only a small fraction of crypto investors make it to a million. Most of them got rich off investing outside of the Bitcoin market.

Crypto billionaires

The number of crypto millionaires has exceeded 88,200, according to the world's first Crypto Wealth Report released by Henley & Partners, a wealth and investment migration consultancy. Seems like a lot? In fact, it's a small fraction of all crypto investors. The agency estimates the total number of cryptocurrency holders at 425 million, placing seven-figure wallet owners in a 0.02% elite.

It's far below the proportion of millionaires among the world's adult population, which stands at 1.1%. Still, it's not bad for a relatively young market. And it doesn't end at low millions. The industry has produced 182 centi-millionaires – those with at least $100 million in crypto – and 22 billionaires.

There's a relatively high proportion of non-Bitcoiners among crypto fat cats. As many as 47,700 low-figure millionaires made their riches from altcoins. The same goes for 104 centi-millionaires and 16 billionaires. In each case, over half of crypto investors looked for profit opportunities outside of the Bitcoin market.

It's always a good time to invest, but the best time may be running out. – Crypto is the most inevitable trade and technology of the last 30 years, and now is a fantastic opportunity to buy as we're unlikely to ever see these prices again – Jeff D. Opdyke, a global investment expert, points out in the report.

The report estimates the total cryptocurrency market value at USD 1,180 billion in 2022. According to other sources, the global crypto market is expected to grow at a compound annual growth rate (CAGR) of 12.5% from 2023 to 2030. Such a pace will provide plenty of opportunities to join the league of the rich but is far from the explosive dynamics of the early crypto days.

Making money is one thing, keeping it is another. Those who have already amassed fortunes are anxious about the shaky legal environment, unpredictable policies, and the lack of regulatory consensus around crypto.

– We have seen a significant spike in inquiries from crypto millionaires over the past six months looking to protect themselves against any potential future bans on the trading or use of cryptocurrencies in their own countries and mitigate the risks of aggressive fiscal policies that tax digital assets at source – Dr. Juerg Steffen, CEO of Henley & Partners, notes in a press release.