- 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.
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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