A recent report reveals a 111% surge in Bitcoin millionaires, now totaling 85,000, highlighting the cryptocurrency’s growing appeal among high-net-worth individuals.

Bitcoin Millionaires Increase 111% Globally

A new wealth survey found that 85,000 individuals currently possess more than $1 million in BTC, marking a 111% increase in the number of Bitcoin millionaires globally in the past year.

The amount of individuals with Bitcoin holdings over $1 million increased to 85,400 on July 30, as per the Crypto Wealth Report 2024 by Henley & Partners.

Additionally, it wasn't limited to Bitcoiners. Worldwide, the number of individuals with Bitcoin holdings above $1 million has increased by 95% from 88,200 at the same time last year to 172,300.

Crypto Centi-Millionaires Rise by 79%

There was a notable increase in the number of crypto centi-millionaires, or those with crypto holdings exceeding $100 million, which increased by 79% to 325. This group represents the "upper echelons" of the crypto affluent.

Per Cointelegraph, there are now a total of 28 crypto holders with fortunes in the nine figures, thanks to the six new crypto billionaires that were created in the past year.

According to the research, it tracked the increase from July 1, 2023, to June 30, 2024, and rounded the millionaire data to the closest hundred. A combination of "in-house wealth tier models" and open-source data from prominent crypto platforms including CoinMarketCap, Binance, BscScan, and Etherscan were used to compile the numbers in the company's 2024 report.

Bitcoin Fuels Billionaire Growth

Although the crypto "millionaire band" has seen the most growth, according to Andrew Amoils, head of research at New World Wealth, Bitcoin was the main driver of the increase in the number of billionaires.

"Of the six new crypto billionaires created over the past year, five came from Bitcoin, underscoring its dominant position when it comes to attracting long-term investors who buy large holdings," Amoils stated on August 27.

Cointelegraph interviewed multiple crypto billionaires in May to discuss the life-altering events brought on by their newfound money.

As of this writing, the price of Bitcoin is $63,100, up 142% from its low point of $26,100 on August 27, 2023, as recorded by TradingView.

Spot Bitcoin ETFs Drive Billionaire Surge

Dominic Volek, head of private clients at the firm, blamed the introduction of spot Bitcoin exchange-traded funds for the surge in the crypto sector and the fast increase in the number of new billionaires.

The biggest single day of inflows in the recent 35 days was on August 26th, when the lineup of spot Bitcoin products saw almost $200 million in fresh inflows.