The recent post from New World Wealth and Henley & Partners has garnered a lot of attention, as the number of crypto millionaires has doubled this year. Additionally, ETF expert and president of The ETF Shop, Nate Geraci, posted on X (formerly Twitter) on August 31, 2024, indicating that the number of crypto millionaires had nearly doubled to 172,300 in the 12 months ending June 2024.
Crypto and Bitcoin millionaires on the rise
The number of centi-millionaires has increased by 80% to 325, and the number of billionaires has increased by 27%, currently standing at 28. However, over the same period, the number of Bitcoin millionaires who own only BTC has increased by 111%, with the total rising to 85,400 at the time of writing. Meanwhile, the number of Bitcoin centi-millionaires and billionaires has increased by 100% and 83% respectively over the same period.
This data points to the potential for wealth generation in this rapidly evolving cryptocurrency landscape. Since the beginning of 2024, we have seen significant developments, increased adoption, political support, and many other advances in this growing sector.
Current market opportunities
However, since June 2024, the overall cryptocurrency market has seen a notable downturn. At this point, there seem to be many opportunities to make money in this emerging industry in the recent market downturn.
Currently, major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) have seen notable price drops. According to Coinmarketcap data, BTC, ETH, SOL, and DOGE have respectively experienced a price drop of more than 10%, 22%, 19%, and 12% over the past month.
