Bitcoin Millionaires Soar 111% as Price Climbs 142% to $63K
Th cryptocurrncy mrkt is currntly xprincing significnt growth, with Bitcoin t th forfront. A rcnt rport by Hnly nd Prtnrs rvls rmrkbl 111% ris in th numbr of Bitcoin millionirs ovr th pst yr. As of Jun 30, 2024, pproximtly 85,400 individuls hold mor thn $1 million in BTC, mor thn doubling lst yrs figur.
This incrs is not limitd to millionirs. Th numbr of Bitcoin cnti-millionirsthos with holdings xcding $100 millionhs surgd by 100%, rching 156. Th most xclusiv group, Bitcoin billionirs, hs witnssd n 83% ris, bringing th totl to 11.
Whil BTC rmins ky drivr, th brodr cryptocurrncy mrkt is lso xprincing surg. Th Crypto Wlth Rport 2024 highlights 95% incrs in th numbr of popl holding ovr $1 million in totl cryptocurrncy ssts. This ris in crypto wlth is not confind to millionirs lon, s th numbr of crypto cnti-millionirs hs grown by 79%, rching 325. Th lit crypto billionirs club hs xpndd by 27%, now totling 28 mmbrs.
This wlth growth prllls ris in usr doption, with th globl crypto community xpnding by 32%, rching 560 million usrs worldwid.
Bitcoin ETFs Drive Crypto Wealth
On of th criticl fctors fuling th surg in crypto wlth, spcilly for BTC, is th introduction of spot Bitcoin xchng-trdd funds (ETFs). Ths invstmnt tools nbl trditionl invstors to ccss BTC without th complxitis of dirct ownrship.
Industry xprts ttribut th rcnt rlly to ths ETFs. Th influx of institutionl cpitl through spot Bitcoin ETFs hs bn notbl, with August 26 witnssing ovr $200 million in nw invstmntsmrking th lrgst singl-dy inflow in ovr month.
Bitcoins dominnc in gnrting nw crypto wlth is vidnt. Andrw Amoils, hd of rsrch t Nw World Wlth, rcntly pointd out tht fiv out of th six nw crypto billionirs ovr th pst yr ow thir wlth primrily to Bitcoin holdings. This undrscors its lsting ppl to long-trm invstors sking substntil rturns through lrg-scl invstmnts.
With BTCs pric soring by 142% ovr th pst yr, from $26,100 on August 27, 2023, to its currnt pric of $63,100, th futur pprs promising for cryptocurrncis nd invstors who hv plcd thir trust in thm.
Related Readings | Stablecoin Market Cap Hits Record High, Exceeds $168 Billion with Rising Institutional Interest
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Text source: TronWeekly
