The wealth of Bitcoin ($BTC) millionaires increased unexpectedly, as the number of Bitcoin millionaires surged 111% over the past year. In Henley & Partners’ most recent survey, it was established that 85,400 crypto enthusiasts now have access to more than $1 million in tokens for the digital currency. This notable growth is a testament to that Bitcoin is still the most relevant digital asset.
Crypto Wealth on Rise Alongside the Growing Demand for Bitcoin
As Bitcoin ($BTC) millionaires are increasing, the rest of the cryptocurrency market has also grown considerably. The total number of waiting global crypto millionaires reached 172,300, an increase of 95% year on year.
This trend applies to billionaire Bitcoin ($BTC) accounts and many cryptocurrencies and suggests the growing acceptance of digital currency worldwide. The number of centi-millionaires increased by 79%, while that of crypto billionaires increased by 27%.
Expanding Market Value
Despite the dips experienced in the industry, the total market value of all cryptocurrencies has shown an increase of 89 % and currently stands at $2.3 trillion. This value jump reflects the acceptance of digital assets as a reasonable investment.
Bitcoin ($BTC) explains most of this value growth; it accounts for a market worth $1.2 trillion, selling at a 103 % increase. Such expansion shows the increasing appetite for the products from the sophisticated market participants and the general populace, further reinforcing cryptocurrency’s place within the context of the global economy.
Rewards such as an increase in the number of Bitcoin ($BTC) millionaires and an increase in the levels of capital in the cryptocurrency environment mean a healthy and well-developed industry. Because of cryptocurrencies’ rising popularity, their relevance in the economy will continue increasing.
