Report suggests 6 billionaire crypto traders earned their fortunes from Bitcoin

0

A report launched by London-based funding migration consultancy agency Henley & Partners suggests there have been greater than 40,000 crypto millionaires on the planet holding Bitcoin. 

According to the “Crypto Wealth Report” printed on Sept. 5, Henley & Partners said there have been roughly 88,200 millionaires worldwide with crypto holdings, with 40,500 holding Bitcoin (BTC). The report prompt that of 182 people who held greater than $100 million value of crypto, 78 had been Bitcoiners. In addition, six out of twenty-two crypto traders who held greater than $1 billion “amassed their fortunes from trading Bitcoin.”

Crypto wealth statistics. Source: Henley & Partners

Fortunly reported there have been roughly 56.1 million millionaires on Earth as of July 2023, suggesting lower than 0.2% had vital crypto holdings. The CEO of Henley & Partners, Juerg Steffen, mentioned the agency had acquired a spike within the variety of crypto-related inquiries by millionaires within the final six months as a part of efforts “to protect themselves against any potential future bans on the trading or use of cryptocurrencies in their countries” in addition to “allay the risks of aggressive fiscal policies that tax digital assets at source.”

“The leadership of an increasing number of jurisdictions understand the legitimate nature of [crypto-based] wealth and have produced mechanisms for it to be stored securely, with soft infrastructure that renders it treated in the same manner as almost any other tangible or intangible asset class,” mentioned cybersecurity specialist Ali Khan. “But there are still a number of jurisdictions that are yet to bite.”

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

The report didn’t explicitly point out the names of the crypto millionaires and billionaires. Among these well-known within the area embody 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 MicroStrategy govt chair Michael Saylor.

Amid the crypto market crash of 2022, the variety of crypto pockets addresses holding the equivalent of greater than $1 million dropped by roughly 80,000. Forbes reported in December 2022 that many main gamers within the trade (*6*) following bankruptcies of exchanges and the bear market.

Magazine: Manzi the magnificent: From millionaire at 16 to incredible IoT inventor