Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Cryptocurrency, once the darling of tech-savvy investors, has now entered the mainstream financial portfolio. According to a recent report by Henley & Partners, a staggering 425 million people globally have dipped their toes into the crypto pool. While the crypto fever may have cooled off a bit since its heyday, it is far from being a passing fad. In fact, a significant chunk of Gen Z — those between 18 and 25 — has invested in digital currencies.
However, not everyone is sailing in smooth crypto waters. A Pew Research survey revealed that 75% of Americans remain skeptical about the safety of crypto investments. Nearly half of the respondents admitted that their crypto ventures have not panned out as they had hoped. But let's flip the coin. There are those who have struck digital gold, amassing fortunes in the millions and billions, primarily in Bitcoin.
Arman ShirinyanHenley & Partners' report uncovers some eye-popping numbers. Out of 425 million crypto users, 88,200 have assets exceeding $1 million. A substantial 40,500 of these millionaires prefer Bitcoin as their go-to investment.
But who are the apex predators in this digital jungle? A minuscule but mighty group of 22 individuals have crypto holdings surpassing the $1 billion mark. Interestingly, only six of them have parked their billions in Bitcoin. This elite club of Bitcoin billionaires represents a sliver of the crypto-wealthy, but their influence is undeniably massive.
Unfortunately, naming each and every Bitcoin billionaire based solely on open blockchain data is an extremely tough challenge. While one can easily throw in some names like Chris Larsen, Cameron and Tyler Winklevoss, Michael Novogratz, Brian Armstrong and Barry Silbert, there is no accurate way to break down their actual portfolios and accurately evaluate the percentage of the digital gold in it.
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov