- A study on digital asset investors published by Henley & Partners dubbed Crypto Wealth Report found only 6 Bitcoin billionaires out of 210 million users.
- With Bitcoin price exchanging around $25.8k on Friday, it takes an investor about 39k BTC to be classified as a billionaire.
Prior to the creation of Bitcoin and other digital assets, dollar billionaires were concentrated in small geographical locations. However, the rise of Bitcoin as the best-performing asset around the world has inspired a new class of investors. A new report published by Henley & Partners found out that there are only six Bitcoin billionaires out of the total 425 crypto users and 8 billion people throughout the world. The Bitcoin elite class is highly coveted as there are only 78 centi-millionaires with more than $100 million.
Faces of the Bitcoin Elite Class
According to onchain data provided by the blockchain, there are only about 16 Bitcoin addresses, including those of crypto exchanges, that hold more than 39k BTC, which is the minimum amount needed to make one a billionaire at the current price of about $25.8k. However, it is very likely that an investor has more than one Bitcoin wallet and holds over 40k wallets in order to be classified as a billionaire.
Notably, the crypto wealth report did not pinpoint the exact Bitcoin billionaires, but on-chain and off-chain data analysis can hint at the faces behind the whale wallets. On the top list is Binance CEO, Changpeng Zhao (CZ), CEO and co-founder of Binance. Another possible contender is former Twitter boss Jack Dorsey, who currently runs Block Inc., among other digital asset firms. Moreover, Dorsey in partnership with music icon Jay-Z backed ₿trust, a non-profit organization committed to decentralizing the development of open-source Bitcoin software, with about 500 Bitcoins.
Another possible Bitcoin billion on the list is MicroStrategy boss Michael Saylor. According to the latest company update, Saylor has facilitated a purchase of over 152k Bitcoins in less than three years.
Other possible contenders in the Bitcoin billionaire’s six list include Gemini co-founders the Winklevoss twins, Coinbase CEO Brian Armstrong, and Ripple co-founder Chris Larsen.
Takeaway Points
The crypto billionaire list goes on when the altcoins are also included, led by Ethereum holders. Furthermore, top crypto veterans like Vitalik Buterin, and Roger Ver, could also be among the silent Bitcoin billionaires. According to Crypto Wealth Report, the top crypto-friendly countries around the world include Singapore, Switzerland, and the United Arab Emirates.
However, it is prudent to include El Salvador and the Central African Republic as top Bitcoin-friendly countries after they adopted the top coin as legal tender. The crypto wealth report highlighted that most investors are enquiring in countries that have friendly digital asset tax frameworks in a bid to protect their wealth.
“We have seen a significant spike in enquiries from crypto millionaires over the past six months looking to protect themselves against any potential future bans on the trading or use of cryptocurrencies in their own countries and mitigate the risks of aggressive fiscal policies that tax digital assets at source,”
Juerg Steffen, CEO at Henley & Partners noted.
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