Henley & Partners announced its crypto asset report... 425 million people use crypto money but there are only six Bitcoin billionaires...
We have heard a lot about the stories of those who got rich through crypto currencies… We also heard the stories of those who were defrauded… Although it is seen as a risky investment for some, there are also those who managed to become dollar billionaires with Bitcoin. There are only six Bitcoin billionaires in the world, according to the new crypto superrich report.
Millions of people around the world own some form of cryptocurrency, whether it is bitcoin or one of many other digital currencies. According to Henley & Partners' Crypto Asset Report, recently released by investment transition consultancy, 425 million people use cryptocurrencies.
Crypto may no longer be growing as fast as it did at the peak of its popularity, but it remains a fairly common investment tool.
HALF OF GENERATION Z BUYS CRYPTO CURRENCIES
For example, a report by the CFA Institute and the Financial Industry Regulatory Authority Investor Education Foundation earlier this year showed that more than half of Gen Z (ages 18 to 25) have invested in cryptocurrency.
But seventy-five percent of Americans are not confident it is currently safe to invest in, trade in, or use cryptocurrency, according to a Pew Research survey conducted in April. Forty-five percent of survey respondents said their investments did not work out as well as they thought, while only 15% said they exceeded their expectations.
But some appear to have had more success with crypto and now have assets worth millions, even billions of dollars, according to Henley & Partners.
The firm's report says 88,200 people have crypto assets worth at least $1 million; That's less than 1% of overall crypto users. About 40,500 of them invest in Bitcoin; that's just under 46% of the total.
There are only 182 investors with over $100 million in crypto assets, and 78 of them are focused on Bitcoin.
And 22 people have at least $1 billion worth of crypto assets. Six of them keep their investments in Bitcoin and have made their fortune through it alone.
BEST COUNTRIES FOR CRYPTO INVESTMENT
Henley & Partners also included the "most attractive countries for crypto investors" index in its report. Singapore was at the top of the general index, followed by Switzerland in second place, the United Arab Emirates in third place, while the USA and the UK ranked fifth and seventh, respectively.
Other countries in the top 10 include Australia in sixth place, as well as Canada, Malta and Malaysia in eighth, ninth and tenth places.
The index takes into account metrics such as infrastructure adoption, which considers how widespread crypto ATMs are, whether digital asset exchanges exist, and how local banks are integrating cryptocurrencies.
Investing in cryptocurrencies has become very popular in recent years, especially during the Covid-19 pandemic, when retail trading practices increased. However, economists and investment advisors have urged caution as cryptocurrency is viewed as a highly volatile asset that can lose value quickly, and many countries do not yet regulate crypto investment and trading or companies in the crypto space.
