As of 2023, there are six Bitcoin billionaires and 22 billionaires whose assets are spread across different cryptocurrencies. This is evidenced by a report Henley & Partners.
Analysts also identified 88,200 individuals who hold digital assets worth more than $1 million.
According to the study, total market capitalisation stands at $1.18 trillion, with more than 425 million users holding crypto assets.
“Bitcoin millionaires make up about 46% of all crypto millionaires and only 27% of crypto billionaires. This disparity arises mainly from substantial investments by early investors and founders in alternative coins,” said a representative of Henley & Partners.
The United States leads in the number of crypto millionaires, followed by India, China, Brazil and Russia.
Experts say that cryptocurrency represents the “pinnacle of trade and technology over the last three decades”. They also highlighted its durability and the cost savings it offers for business.
In addition, Henley & Partners compiled their own Digital Asset Adoption Index. According to the calculations, the top five were Singapore, Switzerland, the UAE, Hong Kong and the United States.
Analysts noted that public interest in cryptocurrency in the United States and the United Kingdom is high, but both countries lag in regulation and taxation.
Earlier, Bitfinex reported a drop in trading volume of the leading cryptocurrency to its lowest since October 2020 — the gauge stood at $423 billion. According to experts, this signals a loss of confidence in Bitcoin and the broader crypto-asset sector.
Fairlead Strategies highlighted the risks to digital gold due to a decline in the stochastic oscillator. The indicator has left the overbought zone, which may presage disappointment for Bitcoin bulls.
Earlier, Michaël van de Poppe to $50,000 forecast a rise in the price of digital gold in anticipation of the halving of miners’ rewards.