There are just six bitcoin billionaires in the world, new crypto super-rich report says
A new report reveals that there are 88,200 crypto millionaires and billionaires worldwide, with 40,500 of them holding their investments in bitcoin.
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Posted 9/6/2023, 5:09:39 AM
cnbc.com
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Bitcoin is projected to reach levels of $200,000 or even $1 million in the future, with growing institutional interest and limited supply driving its bullish trajectory, according to industry experts.
Bitcoin's recent surge in value may be attributed to a $10 billion investment by whales, Robinhood's involvement in a $3 billion Bitcoin purchase, and JPMorgan analysts predicting an end to the crypto bear market.
The number of millionaires worldwide has increased significantly over the last decade, with total millionaire wealth reaching $208.3 trillion in 2022, driven by factors such as tech revolutions and market booms; North America is home to the largest percentage of millionaires (42%), followed by Europe (27%); however, wealth inequality remains a significant issue, and the number of millionaires is projected to grow to 86 million by 2027.
The number of Bitcoin wallet addresses reached a new all-time high of 48.24 million, signaling increasing global adoption and reflecting the growing popularity of Bitcoin as a decentralized digital asset.
Deep-pocketed Bitcoin holders have accumulated over $1 billion worth of BTC in the last two weeks, while the number of investors holding at least 10 BTC has reached a three-year high; the growth in market caps of the top six stablecoins suggests a potential reversal in the crypto market.
Bitcoin is expected to become a larger portion of global wealth as individuals allocate a higher percentage of their net worth to the digital asset, according to macro expert Lyn Alden.
Only 22 out of the nearly half a billion people invested in cryptocurrency have become billionaires through their investments, with Bitcoin being the most common asset held by crypto billionaires, according to a report by Henley & Partners. The report also revealed that the US ranked third in terms of public adoption of cryptocurrencies, behind the UAE and Singapore.
Mexican billionaire Ricardo Salinas Pliego shared insights into his investment journey with Bitcoin, including his strategic allocation of resources across various sectors and his well-timed sale of his BTC holdings for around $17,000 in 2017.
Crypto investors are discussing their favorite altcoins that have the potential to make them "incredibly rich," with coins like DeFiChain, Solana, Shiba Inu, and Ethereum being mentioned among others.
Crypto funds have experienced outflows of $455 million over the past nine weeks, with bitcoin accounting for 85% of the outflows, as investors continue to withdraw funds despite recent legal victories for the industry.
Deep-pocketed crypto investors have moved over $660 million worth of Bitcoin, Ethereum, and Chainlink as Bitcoin's price drops below $27,000.