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How Many Crypto Millionaires are There?
Going to the moon is one of the most cliche terms in the cryptocurrency sector, referring of course to an asset rocketing up in value. Despite the cliche, it’s certainly true that there have been many millionaires made because of the digital asset sector.
How Many Crypto Millionaires are There in the World?
Crypto assets like Bitcoin, Ethereum, and even Shiba Inu have made millionaires out of early investors, or those who were willing to take risks in investing in this still budding asset class.
But just how many crypto millionaires are there? Let’s find out.
It’s a bit difficult to determine how many crypto millionaires there are in the world. This is because there are so many wallet addresses that belong to groups rather than individuals.
Cryptocurrency exchanges like Binance, Coinbase, Bitfinex, and many more all have various wallet addresses with massive amounts of different cryptos. Likewise, there are many institutions and decentralized finance platforms with large wallet holdings that don’t belong to one individual.
The total number millionaires from crypto can also fluctuate on a day to day basis because of the inherent volatility associated with their prices. Because it’s so hard to identify the overall number of crypto millionaires there are in the world, it’s often easier to look at the number of Bitcoin millionaires to give a general picture, because it is the largest cryptocurrency by market cap and makes up over half of the entire crypto sector’s market cap.
How Many Bitcoin Millionaires are There?
There are over 100,000 Bitcoin millionaires based upon looking at individual wallet addresses. This doesn’t take into account any person or group with multiple wallet addresses that total over $1 million in BTC, meaning the true number is likely higher than what is seen in the image below.
How many Bitcoin millionaires there are will also fluctuate over time. This could be downwards if Bitcoin’s price drops significantly, or upwards if Bitcoin’s price goes up enough.
For example, you would have had to own 40 or more Bitcoin 1 year ago to be a Bitcoin millionaire, but at current prices, you’d only need about 15 Bitcoin to be a Bitcoin millionaire. If Bitcoin goes up to $100k then you’d only need 10 BTC to be a millionaire, but if it dropped back down to $50k, you’d need 20.
Assuming Bitcoin’s price stays on an upward trajectory over time, there will be more and more Bitcoin millionaires over time.
How Many Crypto Billionaires are There?
The number of crypto billion billionaires there are is actually easier to determine than how many crypto millionaires there are. This is because a billion is a lot more than a million, meaning it’s a lot harder to be in this category. Though we’re not going to discuss an exact number of crypto billionaires, we’ll give some examples of crypto billionaires who are generally founders or early contributors to various blockchain projects.
Vitalik Buterin
Vitalik Buterin is well known as the creator of Ethereum, and he has over 270,000 ETH to his name. At current prices this is just about $1 billion, and it doesn’t take into account the other assets he owns in his Ethereum wallets.
Chris Larsen
One of the original founders of Ripple (XRP), has over 2.8 billion XRP across various wallet addresses, which at current prices is almost $2 billion.
Michael Saylor
The CEO of MicroStrategy, a company which owns the second most Bitcoin in the world next to BlackRock, previously tweeted about his personal Bitcoin holdings, which were over 17.5k BTC. At current prices this is over $1.2 billion.
Changpeng Zhao
The now infamous former CEO and founder of Binance Exchange, Zhao has over $30 billion to his name in various cryptocurrencies. This includes Bitcoin and Binance Coin (BNB).
Brian Armstrong
The co-founder and CEO of Coinbase (COIN), Armstrong is a crypto billionaire because of his shares of COIN, not because of crypto asset holdings.
How to Become a Crypto Millionaire
There is no surefire way to become a crypto millionaire. You have to do your due diligence before investing in anything, crypto or otherwise. Those who have become millionaires from crypto are generally those that invested early or founded a project, but there are those who just made the right trade at the right time.
The key is to only invest what you can afford to lose, and if you end up becoming a millionaire because of that investment, great! But, be realistic with your investment goals.
