In keeping with a press launch report launched by Henley & Companions on August 27, 2024, the variety of Bitcoin millionaires has doubled by greater than 111% in 2024. There are at the moment 85,400 Bitcoin millionaires, up 111% from about 40,500 final yr in 2023.

When it comes to crypto generally, there at the moment are over 172,300 people worldwide who maintain over $1 million in crypto property, a rise of over 95% in comparison with final yr.

The variety of folks with over $1 million has additionally almost doubled, with 325 folks now proudly owning over $100 million in crypto property. The variety of folks with nine-figure fortunes (crypto millionaires) has additionally elevated to twenty-eight, a 27% enhance from final yr.

The desk under reveals statistics on people holding over $1 million in crypto property, in addition to total crypto customers world wide.

The full variety of cryptocurrency customers is anticipated to succeed in 560 million in 2024, up greater than 32% in comparison with 2023. On the time of penning this information article, the overall cryptocurrency market capitalization is over $1.9 trillion, which is 92% greater than final yr's market capitalization of round $1 trillion to $1.2 trillion.

There are a number of explanation why the cryptocurrency market has skyrocketed in 2024. One of many causes for the market rise is the Bitcoin halving that occurred in April, which has at all times been a catalyst for the cryptocurrency market.

One more reason for the huge rise within the cryptocurrency market is the approval of a spot Bitcoin ETF on January 10, 2024, and a spot Ethereum ETF on July 23, 2024.

Because the Spot Bitcoin ETF's approval, whole inflows into the Bitcoin ETF have reached $14.67 billion as of June 2024, with common day by day inflows into the Spot Bitcoin ETF being roughly $140 million.

Equally, Ethereum has additionally seen large inflows through the Spot Ethereum ETF.