{"id":58050,"date":"2023-09-07T09:45:29","date_gmt":"2023-09-07T13:45:29","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/cryptos-rich-list-boasts-22-billionaires-and-88000-of-millionaires\/"},"modified":"2023-09-07T09:45:31","modified_gmt":"2023-09-07T13:45:31","slug":"cryptos-rich-list-boasts-22-billionaires-and-88000-of-millionaires","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=58050","title":{"rendered":"Crypto’s Rich List Boasts 22 Billionaires and 88,000 of Millionaires"},"content":{"rendered":"
\n

The world of cryptocurrency, with a total market value exceeding $1 trillion, has produced 22 billionaires and 88,000 millionaires.<\/p>\n

According to a recently\u00a0released crypto wealth report\u00a0by residence by investment firm\u00a0Henley & Partners<\/strong>, which was created in collaboration with global wealth intelligence company\u00a0New World Wealth<\/strong>, six of the billionaires owe their wealth solely to Bitcoin.\u00a0<\/p>\n

Additionally, nearly half of the 88,200 millionaires can attribute their wealth to the leading cryptocurrency, while 182 individuals are classified as centimillionaires, holding $100 million or more in crypto assets.<\/p>\n

It is important to note, however, that the 88,200 crypto millionaires account for just 0.15% of the estimated 60 million global millionaires, as reported by the latest UBS global wealth report.<\/p>\n

The figures presented were gathered by tracking the movements and spending habits of over 150,000 high-net-worth individuals by New World Wealth, combined with onchain data and public information from crypto exchanges for wealth modeling.\u00a0<\/p>\n

The report does not disclose specific names of individuals in its database.<\/p>\n

425 Million Individuals Worldwide Own Crypto<\/h2>\n

The study also estimates that there are currently 425 million individuals worldwide who own cryptocurrencies, representing approximately 5.3% of the global population. Out of these, 210 million hold Bitcoin.<\/p>\n

In addition to the wealth statistics, the report introduces the “Crypto Adoption Index,” which ranks countries based on factors such as public and infrastructure adoption, innovation, tax, and regulatory conditions.<\/p>\n

Singapore, Switzerland, and the United Arab Emirates top the list, indicating that these nations have created favorable environments for crypto growth.<\/p>\n

While the United States ranks fifth overall, it leads in terms of public and infrastructure adoption combined, followed by Canada and Australia.\u00a0<\/p>\n

The United Kingdom ranks highest for innovation and technology.<\/p>\n

Singapore, Switzerland, and the UAE also rank at the top of Henley & Partners’ list for the best investment migration programs, which allow digital asset investors to obtain alternative residence permits and citizenship in these countries.<\/p>\n

Crypto Billionaires Lose Big Amid Market Downturn<\/h2>\n

Crypto billionaires have been hit hard amid the recent market downturn that saw around $2 trillion wiped out of the crypto markets.\u00a0<\/p>\n

As\u00a0reported,\u00a0Binance<\/strong>\u00a0CEO\u00a0Changpeng Zhao<\/strong>, known as CZ, has seen his net worth shrink by $1.4 billion to $26 billion, while\u00a0Coinbase<\/strong>\u00a0CEO\u00a0Brian Armstrong<\/strong>\u00a0has seen his net worth drop by $361 million to $2.2 billion.<\/p>\n

The reversal in fortune for crypto\u2019s wealthiest founders, who saw their combined net worth increase by $15.4 billion in 2023 from the comeback in the price of Bitcoin and other digital assets, came after the Securities and Exchange Commission’s crackdown on Binance and Coinbase.<\/p>\n

Prior to the legal enforcement against those exchanges, Zhao’s fortune was up by a staggering 117%, while Armstrong\u2019s was up by 61%.\u00a0<\/p>\n

Back in June, the SEC\u00a0sued both Binance, the world’s largest cryptocurrency exchange, and\u00a0Coinbase, the largest US-based cryptocurrency\u00a0exchange, for operating as unregistered exchanges and offering unregistered securities, among others.\u00a0<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The world of cryptocurrency, with a total market value exceeding $1 trillion, has produced 22 billionaires and 88,000 millionaires. According to a recently\u00a0released crypto wealth report\u00a0by residence by investment firm\u00a0Henley & Partners, which was created in collaboration with global wealth intelligence company\u00a0New World Wealth, six of the billionaires owe their wealth solely to Bitcoin.\u00a0 Additionally, […]<\/p>\n","protected":false},"author":1,"featured_media":58051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-58050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nCrypto's Rich List Boasts 22 Billionaires and 88,000 of Millionaires | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The world of cryptocurrency, with a total market value exceeding $1 trillion, has produced 22 billionaires and 88,000 millionaires.According to a\" \/>\n<meta name=\"robots\" content=\"index, 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