The Population of Crypto Millionaires Soared 95% Over the Past Year, New Report Says

There are now 172,300 individuals worldwide holding more than $1 million in crypto assets, up from 88,200 last year.

The number of crypto millionaires in the world has surged by 95% over the past year, driven by the launch of bitcoin exchange-traded funds (ETFs) and a broader rally in crypto assets, according to a new report.

There are now 172,300 individuals globally holding more than $1 million in crypto assets, up from 88,200 last year, according to the report by New World Wealth and Henley & Partners. The number of pure bitcoin millionaires more than doubled, to 85,400.

The ranks of the crypto rich have also grown all the way up the wealth ladder. There are now 325 crypto centimillionaires — those with $100 million or more in crypto holdings — and 28 crypto billionaires, according to the report.

The surge in crypto millionaires comes as bitcoin ETFs, which now have more than $50 billion in assets since their launch in January, have touched off a wave of institutional participation.

The price of bitcoin has jumped 45% this year to about $64,000. As other coins have also increased in value, the market cap of crypto assets has increased to $2.3 trillion, according to Henley & Partners, up from $1.2 trillion last summer.

Of the six new crypto billionaires created over the past year, five can attribute their newfound wealth to bitcoin, "underscoring its dominant position when it comes to attracting long-term investors who buy large holdings," according to Andrew Amoils, head of research for New World Wealth.

According to Forbes, the richest crypto billionaire — for the third year in a row — is Changpeng Zhao, the founder and former CEO of crypto exchange Binance, who is worth an estimated $33 billion. Zhao pleaded guilty to U.S. money laundering charges in November and agreed to pay a $50 million fine. His wealth has soared by more than $10.5 billion over the past year.