According to the report, six billionaire crypto traders have made their fortunes from bitcoin

A report published by London-based investment migration advisory firm Henley & Partners suggests that there were more than 40,000 crypto millionaires worldwide who owned bitcoin.

According to the Crypto Wealth Report published Sept. 5, Henley & Partners stated that there are approximately 88,200 millionaires with crypto assets globally, with 40,500 holding Bitcoin (BTC). The report estimates that 182 people were worth more than $100 million. Of the crypto traders, 78 were bitcoiners. Additionally, six out of 22 crypto traders who held more than $1 billion “made their wealth trading Bitcoin.”

Crypto Wealth Stats. Source: Henley & Partners

Fortunly reported that there were approximately 56.1 million millionaires on Earth as of July 2023, suggesting less than 0.2% held significant crypto holdings. Henley & Partners CEO Juerg Steffen said the company has received a spike in the number of crypto-related inquiries from millionaires over the past six months as part of an effort to “protect itself from potential future trading or usage bans.” of cryptocurrencies in their countries” and “mitigate the risks of aggressive fiscal policies that tax digital assets at source”.

“The leadership of an increasing number of jurisdictions is aware of the legitimacy [crypto-based] “We have developed assets and developed mechanisms to keep them safe, with a soft infrastructure that ensures that they are treated the same as almost any other tangible or intangible asset class,” said cybersecurity specialist Ali Khan. “But there are still a number of jurisdictions that are yet to have an impact.”

Related: Millionaires are flocking to crypto: 82% sought investment advice in 2022

The report did not specifically mention the names of the crypto millionaires and billionaires. Notable people in this space include Digital Currency Group Founder and CEO Barry Silbert, Gemini co-founders Cameron and Tyler Winklevoss, Binance CEO Changpeng Zhao, Coinbase CEO Brian Armstrong, Ripple co-founder Chris Larsen, and CEO of MicroStrategy, Michael Saylor.

During the crypto market crash of 2022, the number of crypto wallet addresses valued at more than $1 million dropped by about 80,000. Forbes reported in December 2022 that many of the industry’s major players lost more than $116 billion to stock market failures and the bear market.

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