How many crypto millionaires are there? Meet the whales.

Many people have gained unexpected wealth thanks to cryptocurrencies. You don’t have to be an expert to see that Bitcoin’s price is much higher than when it first started. About 12-15 years ago you could buy thousands of Bitcoins for almost free.

It is believed that the biggest gains were made by those who initially believed in digital currencies. But fast forward to today, new coins are still emerging and offering new opportunities to make a fortune. Latest reports show that the number of crypto millionaires is increasing, proving that people are still making money from this digital gold rush. How many cryptocurrency millionaires are there?

Understanding crypto millionaires

Crypto millionaires come from different backgrounds and use various strategies to protect their wealth. Beyond the early investors, many made their fortunes through savvy trading, taking advantage of market volatility to buy low and sell high.

Others have truly thrived in the world of decentralized finance, finding ways to generate passive income by lending their assets or providing liquidity to exchanges. Some crypto millionaires are actually making the most of their expertise by launching exciting projects that solve real problems or offer new experiences and attracting significant investment.

The crypto world is changing rapidly, and these millionaires understand that adapting to market trends is key to their continued success.

Estimating the number of crypto millionaires

How many crypto millionaires are there in the world? According to a 2024 report by New World Wealth and Henley&Partners, there are currently 172,300 people worldwide with over $1 million in crypto assets.

The number of millionaires owning Bitcoin alone has more than doubled compared to last year, reaching 85,400. Wealth growth in the crypto industry is observed at all levels. There are currently 325 crypto centimillionaires (individuals with crypto assets exceeding $100 million) and 28 crypto billionaires.

Five of the six new crypto billionaires to emerge in the past year attribute their wealth to Bitcoin, highlighting Bitcoin’s dominant role among long-term investors.

Worldwide crypto wealth statistics | Source: Henley&Partners

Factors affecting the number of crypto millionaires

The rise in the number of wealthy individuals in the crypto space can be traced to the growth of Bitcoin ETFs, which have attracted over $50 billion in assets and attracted institutional investors since their launch in January 2024.

Additionally, just this March, Bitcoin (BTC) rose to an all-time high of approximately $73,750, contributing to the total market value of crypto assets rising to $2.43 trillion at the time of this writing. This growth has undoubtedly made many crypto holders even richer. While some cryptocurrencies still haven’t returned to their 2021 peak values, the adoption of cryptocurrencies by big names like BlackRock and Fidelity could create even more wealth for heavy investors.

Who are some of the top crypto whales?

According to Forbes, the list of crypto whales includes founders of leading exchanges, developers behind blockchain platforms, and other influential figures closely connected to the crypto scene. Here are the five richest among them.

Paolo Ardoino Paolo Ardoino | Source: CoinDesk

Paolo Ardoino is a major player in the crypto world and stepped into the CEO role at Tether in 2023. His journey began in 2014 as a senior software developer at Bitfinex and has since been instrumental in the growth of Tether by expanding its stablecoin offerings. and developing blockchain infrastructure. Ardoino’s net worth is estimated at $3.9 billion.

Michael Saylor Michael Saylor | Source: michael.com

Michael Saylor is the founder and CEO of MicroStrategy, a company specializing in business analytics software. He has passionately supported Bitcoin since 2020, leading his firm to make bold acquisitions in the cryptocurrency. This innovative approach has enabled MicroStrategy to stand out as a pioneer among publicly traded companies in the ever-evolving crypto arena. Saylor’s net worth is estimated at $4.4 billion.

Giancarlo Devasini Giancarlo Devasini | Source: Bloomberg

Giancarlo Devasini co-founded Bitfinex and served as CEO for a time. He currently serves as Chief Financial Officer and owns 47% of Tether; this position contributes greatly to his wealth. His net worth is estimated at $9.2 billion.

Brian Armstrong Brian Armstrong | Source: CNN

Brian Armstrong is the founder and CEO of Coinbase, one of the world’s largest cryptocurrency exchanges. With easy navigation and solid security features, Coinbase has gained a loyal following.

Beyond his work at the exchange, Armstrong actively supports the blockchain community by founding the Stand With Crypto movement to promote education and advocate for positive regulatory changes. His net worth is estimated at $11.2 billion.

Changpeng Zhao Changpeng Zhao | Source: CNN

Changpeng Zhao, often referred to as ‘CZ’, is the founder and former CEO of Binance, the largest cryptocurrency exchange on the market. His wealth stems from his ability to build Binance into a world-class trading platform and his strategic investments in innovative blockchain projects that are making waves in the industry. Although he resigned as CEO following a settlement with the US Department of Justice, his influence as the leading crypto whale remains strong. Zhao’s net worth is estimated at $33 billion.

Counting Millionaires

In summary, there are approximately 85,000 known millionaires in the world, but the actual number is difficult to ascertain due to the pseudonymous and even anonymous features inherent in cryptocurrency technology.

The wealth of crypto whales reflects not only their personal success but also the growing importance of digital assets in the global economy.