Crypto Millionaires: How Many Are There in the World?
The digital community is always curious about the number of uber-rich crypto whales. Delving into others’ financials is inherent to human nature. However, the issue with crypto millionaires is even more intriguing: they’re often accused of having the power to manipulate the market, which can affect the portfolios of average investors.
On this page
The question seems to have been addressed in a report by the consultancy and analytics firm, Henley & Partners. This study was originally intended for governments, venture funds, and major tech enterprises.
For those too engrossed in trading to dive into charts and diagrams, here’s a concise summary of the findings:
- The global crypto market boasts 425 million active participants. Yet, the investment frenzy seems to have subsided for now: digital assets are trading far from their all-time highs, even though there were signs of renewed interest in 2023.
- A total of 88,200 individuals possess crypto assets worth $1 million or more. This means that less than 1% of investors have achieved “whale” status.
- Most of those who became wealthy from digital assets have invested in BTC. 46% of crypto millionaires (40,500 individuals) hold bitcoins. Over half of them are early investors from the years 2009-2012.
- Merely 182 investors own digital assets exceeding $100 million in value. Among them, around 43% are Bitcoin owners. The portfolios of the rest mainly comprise a mix of ETH, LTC, BCH, and various stablecoins.
- Only 22 individuals can proudly claim that they've earned a billion US dollars from crypto investments. Surprisingly, only six of them achieved this through Bitcoin investments. This means that only 27% of crypto billionaires focused on investing in the oldest and largest cryptocurrency by market capitalization.
Global Distribution of Crypto Wealth. Source: HenleyGlobal
The data reveals a stark contrast: while there are many crypto billionaires or millionaires with assets over $100 million, the number of ultra-rich Bitcoin investors is notably lower.
An interesting observation from the Henley & Partners analysis is that they focused exclusively on active addresses. The fate of digital wealth that might have been lost due to the deaths of crypto millionaires is still unknown.
Additionally, there seems to be a trend among prominent figures in the digital realm who claim their fortunes are entirely from cryptocurrencies. Their assertions might be overly optimistic, to say the least. It's plausible that their portfolios extend beyond crypto to include more traditional assets. Furthermore, there's a possibility some of them declare their earnings as cryptocurrencies to mask dubious origins. Such individuals, while dubbed as crypto millionaires, might not fit the true definition.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
