The number of crypto millionaires in the world has increased to 172,300, an increase of 95% until June 2024.
What happened
According to Bloomberg Línea, the report Henley & Partners reveals that digital asset adoption has grown, driven by a more favorable regulatory environment. Despite fiscal measures, countries without capital gains taxes, such as United Arab Emirates and Singaporethey benefit.
The research director of New World Wealth, Andrew Amoilsexplained to Bloomberg Línea that it is difficult to identify investors due to the anonymous nature of Cryptocurrency transactions.
The report also highlights that centimillionaires, those with cryptocurrencies valued at $100 million or more, have increased to 325, a 79% increase. Crypto billionaires, with assets of $1 billion or more, now number 28, an increase of 27%.
In Henley & Partners’ Cryptocurrency Adoption Index, Singapore, Hong Kong and the United Arab Emirates lead. In Latin America, Panama It is the only country in the top 20, thanks to its favorable tax policies and its position as an international financial center.
You can also read: Why is the correlation between Bitcoin and gold growing, while Ethereum goes its own way?
Why is it important
The rise of crypto millionaires reflects a significant change in the cryptocurrency market. During the first half of 2024, cryptocurrencies saw notable growth, driven in part by memecoins and the approval of ETFs. Bitcoin (CRYPTO:BTC) for the US Securities and Exchange Commission (SEC).
Furthermore, countries like Brazil, Argentina and Mexico have shown a high adoption of cryptocurrencies, ranking among the main ones in Latin America.
This growth in popular adoption and favorable regulation in certain countries is attracting a greater amount of crypto wealth.
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You can also read: Banco Sabadell announces dividend and plan to remunerate shareholders with €2.9 billion
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