Business - Brazil Market Reports

The Rapid Ascent of Crypto-Millionaires: Decoding a Financial Revolution

By Richard Mann · August 28, 2024 · 2 min read

In the span of a year, individuals with crypto holdings above $1 million nearly doubled, soaring from 88,200 to 172,300.

This 95% increase reflects a dramatic shift in wealth through digital assets. The group exclusively holding Bitcoin has seen even greater growth, now tallying 85,400 millionaires.

A report from New World Wealth and Henley & Partners sheds light on this wealth explosion. It credits the surge to rising cryptocurrency values and the quick adoption of Bitcoin ETFs.

This year, Bitcoin’s price jumped by 45%, reaching about $64,000. This increase was mainly driven by the burgeoning Bitcoin ETFs launched in the U.S. early this year. These funds alone now encompass assets totaling $50 billion.

The Rapid Ascent of Crypto-Millionaires: Decoding a Financial Revolution. (Photo Internet reproduction)

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Moreover, Bitcoin’s rise has buoyed other cryptocurrencies, pushing the total crypto market value to $2.3 trillion. This is a significant jump from $1.2 trillion in August of the previous year.

As values soared, the ranks of crypto-millionaires worldwide expanded rapidly. Even the more exclusive hundred-million and billion-dollar clubs have grown. Presently, there are 325 crypto-centimillionaires and 28 crypto-billionaires.

Over the past 12 months, six new crypto-billionaires have emerged. Among them is Changpeng Zhao, founder and former CEO of Binance.

The Rapid Ascent of Crypto-Millionaires: Decoding a Financial Revolution

Forbes reports his net worth at approximately $33 billion, with an increase of over $10.5 billion last year.

Other notable figures include Brian Armstrong, co-founder of Coinbase; Giancarlo Devasini, CFO of Tether; and Michael Saylor, co-founder of MicroStrategy. These entrepreneurs have capitalized significantly on the crypto boom.

This shift in wealth is not just financial growth. It represents a pivotal change in the global financial landscape, emphasizing the growing influence of digital assets on traditional systems and wealth distribution.

The Rapid Ascent of Crypto-Millionaires: Decoding a Financial Revolution

Live Market IntelligenceCrypto — Live Market BoardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.

Rio Times · Live Market Intelligence

Crypto — Live Market Board

Digital assets
Jul 21, 2026 · 10:23

Bitcoin · benchmark

66,520
+1.98%

L 65,139day rangeH 66,582

-43.36% over 12 months

Market breadth · 17 names

100% advancing

17 ▲ advancing0 declining ▼

Currencies, rates & key inputs

Ethereum

1,938

+1.80%

Solana

78.40

+0.78%

Gold

4,062

+1.28%

USD / BRL

5.07

-0.34%

Full instrument board

Instrument	Last	Change	YoY	Prev.	High	Low	Volume
BTC	66,520	+1.98%	-43.36%	65,230	66,582	65,139	29,669,249,024
ETH	1,938	+1.80%	-48.51%	1,904	1,945	1,901	13,481,609,216
SOL	78.40	+0.78%	-59.99%	77.79	78.68	77.69	1,938,123,008
XRP	1.14	+2.63%	-67.89%	1.11	1.14	1.11	1,361,704,576
BNB	576.47	+1.01%	-24.82%	570.73	579.09	570.66	1,133,157,632
ADA	0.18	+3.31%	-80.30%	0.17	0.18	0.17	507,556,768
DOGE	0.07	+1.66%	-73.01%	0.07	0.07	0.07	742,696,832
AVAX	6.65	+1.12%	-73.87%	6.58	6.68	6.57	265,633,664
LINK	8.71	+1.52%	-55.39%	8.58	8.74	8.57	279,599,072
DOT	0.86	+3.86%	-80.95%	0.83	0.87	0.83	104,540,448
LTC	47.65	+0.66%	-58.87%	47.34	47.73	47.15	247,891,776
BCH	225.28	+2.44%	-56.97%	219.90	225.35	219.72	113,761,032
TRX	0.33	+0.52%	+4.44%	0.33	0.33	0.33	401,549,088
XLM	0.19	+3.48%	-58.73%	0.19	0.20	0.19	158,832,128
HBAR	0.07	+2.78%	-74.75%	0.07	0.07	0.07	55,482,920
NEAR	1.99	+0.58%	-34.30%	1.98	2.06	1.97	215,171,152
ATOM	1.50	+0.33%	-71.13%	1.49	1.51	1.49	24,850,978
AAVE	94.40	+5.15%	-70.73%	89.77	95.27	89.73	234,625,200

Largest moves today

AAVE
94.40
+5.15%

DOT
0.86
+3.86%

XLM
0.19
+3.48%

ADA
0.18
+3.31%

HBAR
0.07
+2.78%

XRP
1.14
+2.63%

BCH
225.28
+2.44%

BTC
66,520
+1.98%

The session read

The Bitcoin rose 1.98%, with breadth positive — 17 of 17 names higher. AAVE led, while ATOM lagged.

From The Rio Times

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