Bitcoin Trading Made 6 Billionaires – Crypto Wealth Report

Bitcoin trading has been credited for making six crypto billionaires and many more centi-millionaires. Read the report’s findings.

Billionaire man in his gold city of Bitcoin.
Created by Kornelija Poderskytė from DailyCoin
  • An inaugural crypto wealth report has been published.
  • 6 billionaires made fortunes from BTC trading.
  • Crypto millionaires want to migrate their investments.

Bitcoin might already be fulfilling what investment experts forecasted at its inception in 2009 – that it would become an inevitable trade within 30 years. More than a decade later, numbers indicate an increasing acceptance of the nascent digital asset class.

London-based investment migration consultancy firm Henley & Partners published the world’s first crypto wealth report on September 5, noting that six out of 22 individuals holding over $1 billion in crypto assets amassed their stupendous fortune from Bitcoin trading.

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While Bitcoin market cap has shed 32.9% in the last year, bringing it to a current level of $503.05 billion, on May 23, Glassnode announced a new “wholecoiner” milestone achievement, noting that the number of wallet addresses holding at least one whole BTC had surpassed a million.

Seeking Avenues to Safeguard Interest

Per the inaugural report, players in the global super-rich league in the crypto industry, otherwise known as high-net-worth individuals (HNWIs), including traders, miners, and investors, are actively exploring investment migration strategies that can safeguard their interests.

“We have seen a significant spike in inquiries from crypto millionaires over the past six months, who are all looking to build a viable ‘Plan B’ to protect themselves against any potential future bans on the trading or use of cryptocurrencies in their countries,” the report read.

According to the report, there are currently 88,200 crypto millionaires worldwide, with nearly half of them holding their fortunes in BTC. Of this number, 182 are centi-millionaires with crypto holdings of $100 million or more, 78 of whom have a huge interest in Bitcoin.

Eyes on the Regulators

One strategy that most HNWIs are looking at is migrating their digital asset investments to countries that provide a relatively friendly, clear crypto regime. UAE and Singapore emerged as the top preferred destinations, with Canada, Malta, and Malaysia tailing at the 8th, 9th, and 10th positions, respectively.

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Read how Bitcoin ATMs are driving crypto adoption:

From Accessibility to Adoption: How Bitcoin ATMs Simplify Access to Crypto

Is it the right time to accumulate BTC? Read this article to find out:

Does BTC’s Dip Below $26K Present a Buying Opportunity? Analysts Weigh In

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.