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Cryptocurrency News Articles
Bitcoin Millionaires Have Increased by 95% in the Past Year, Now Account for Nearly Half of All Crypto Millionaires
Oct 20, 2024 at 07:00 am
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.
Henley & Partners Crypto Wealth Report reveals a surge in Bitcoin millionaires.
According to the latest Henley & Partners Crypto Wealth Report, Bitcoin (BTC) millionaires have seen a remarkable increase, surging by over 111% between 2023 and 2024. This surge has brought the total number of BTC millionaires to 85,400, which now accounts for approximately 49.6% of the total crypto millionaires worldwide in 2024.
notably, five out of the six new crypto billionaires also attribute their fortunes primarily to Bitcoin. In terms of crypto users, Bitcoin holders now stand at 275 million, out of the total 560 million crypto users, which translates to roughly 49%.
Surging crypto adoption, 95% increase in crypto millionaires
The report also highlights a surge in crypto millionaires, with the number of individuals holding 1 million crypto assets increasing by an impressive 95% since last year, reaching 172,300.
This surge is largely attributed to the rising popularity of decentralized finance (DeFi) and non-fungible tokens (NFTs), which has attracted a wider pool of investors to the crypto space.
Among crypto billionaires, five out of the six new entrants owe their fortunes to Bitcoin
This year, there are six new entrants to the crypto billionaires' club, and five of them have the majority of their assets in Bitcoin.
In total, there are now 28 crypto billionaires, and six new billionaires have joined the ranks in 2024.
When it comes to users, Bitcoin holders stand at 275 million, out of the total 560 million crypto users (49%).
ETFs, friendly regulations drive Bitcoin millionaires
In the US, the approval of 11 spot Bitcoin ETFs has played a significant role in driving up Bitcoin adoption and, consequently, the number of BTC millionaires.
This is because some investors prefer these funds to trading on centralized exchanges, and several new ETF launches have helped channel more資金 into the crypto market.
So far, close to $20 billion has been poured into these ETFs, indicating the growing interest in their spot products and services.
Countries like Singapore and the UAE are also encouraging crypto adoption with their progressive regulations.
The UAE, for instance, has introduced zero capital gains taxes and is allowing Dubai’s residents to trade cryptocurrencies directly with their bank accounts.
Singapore, on the other hand, provided detailed guidelines on digital asset custody in April 2024 and introduced cryptocurrency-related amendments to the Payment Services Act, which focus on digital payment token (DPT) service providers and user protection standards.
Switzerland is another standout destination, with its renowned “Crypto Valley” in Zug nurturing a vibrant blockchain ecosystem and offering favorable conditions for digital assets.
Furthermore, Caribbean nations, such as Antigua, Barbuda, St. Kitts, and Nevis, have also implemented forward-thinking legislation to attract digital asset entrepreneurs.
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- WallitIQ (WLTQ): The Next-Generation Cryptocurrency Wallet Attracting Dogecoin (DOGE) and XRP Whales
- Oct 20, 2024 at 12:55 pm
- As the cryptocurrency market continues to evolve, major players like Dogecoin and XRP whales are seeing significant movements from whales—large investors who can sway market dynamics with their buying power. Recently, these whales have turned their attention to WallitIQ (WLTQ), a next-generation decentralized cryptocurrency wallet that leverages cutting-edge artificial intelligence and machine learning.
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- Bitcoin (BTC) Price Prediction: Expert Predicts a Surge to $70,000-$75,000 by October's End
- Oct 20, 2024 at 12:55 pm
- Leading Russian cryptocurrency expert Alexey Mokrov has made waves in the crypto community by predicting that Bitcoin (BTC) could soar to between $70,000 and $75,000 by the end of October.
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- Bitcoin (BTC) Price Prediction: Will BTC See a Major Bull Run Before the End of October?
- Oct 20, 2024 at 12:40 pm
- Bitcoin (BTC) has been on a remarkable upward trajectory, gaining over 10 percent in the last two weeks. As of now, Bitcoin's price hovers around $67,000, just shy of the key resistance level at $68k.
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- Bitcoin (BTC) Continues to Shine in the Cryptocurrency Market, Showcasing Impressive Gains of 58% This Year
- Oct 20, 2024 at 12:15 pm
- Bitcoin (BTC) continues to shine in the cryptocurrency market, showcasing impressive gains of 58% this year. Currently priced around $67000, it is approaching its previous record of $73750