Six new crypto billionaires were also created, five of which held bitcoin.The recent cryptocurrency bull market has created more than 88,000 new crypto millionaires and six crypto billionaires in 2024, according to aGlobally there are now 172,000 people that holding more than $1 million worth of cryptocurrency, a 95% increase on last year following a market surge that saw bitcoinBuoyed by bullish sentiment and the release of several U.S.
The report adds that the amount of centi-millionaires, individuals with assets of over $100 million, has increased 79% to 325. Bitcoin was the largest contributor to the rise in billionaires, with five of the six billionaires becoming so through bitcoin investment. Crypto-wealthy investors have also demonstrated a trend of securing residency in crypto and tax-friendly jurisdictions. Singapore remains the the"premier cryptocurrency hub" due to excelling in regulatory framework and infrastructure development, whilst the UAE ranks third with its significant tax advantages.
“The crypto millionaires of 2024 are not content with digital riches alone; they seek the freedom of global mobility to match their borderless assets," said Dominic Volek, group head of private clients at Henley & Partners.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CoinDesk - 🏆 291. / 63 Read more »
Source: CoinDesk - 🏆 291. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: CNBC - 🏆 12. / 72 Read more »