A new report on Cryptocurrency Wealth says: six bitcoin (btc) billionaires in the world

Hundreds of millions of people around the world own some form of cryptocurrency holdings, whether it be bitcoin or one of the many other digital currencies.

To be exact, 425 million people use cryptocurrencies, according to Henley & Partners’ Crypto Wealth Report, released by the investment advisory firm Migration on Tuesday.

Cryptocurrencies may no longer be thriving in the same way they were at the height of their popularity, but they remain a very popular investment. For example, more than half of Generation Z (18-25-year-olds) have invested in them, a report by the CFA Institute and the Financial Industry Regulatory Authority’s Investor Education Foundation showed earlier this year.

However, 75% of Americans are not sure that investing in, trading in, or using cryptocurrencies is currently safe or that they can rely on the tools currently available to do so, a Pew Research survey found in April. Forty-five percent of those surveyed also said that their investments weren’t as successful as they thought they were – and only 15 percent said they exceeded expectations.

But some seem to have had more success in the cryptocurrency space, and now have holdings worth millions or even billions of US dollars, according to Henley & Partners.

The company’s report on Tuesday says that 88,200 people have crypto assets worth at least $1 million — less than 1% of all cryptocurrency users. About 40,500 of them hold their investments in Bitcoin, just under 46% of the total.

Far fewer people are called “millionaires” who have cryptocurrency holdings valued at more than $100 million. There are only 182 of these investors, of which 78 are reported to be focused on bitcoin.

And 22 people own cryptocurrency holdings worth at least $1 billion. Six of them hold their investments in bitcoin – a much lower percentage than among cryptocurrency millionaires and millionaires.

For comparison, the total value of the cryptocurrency market, at the time of writing, is $1.18 trillion.

As part of its report, Henley & Partners also developed the Cryptocurrency Adoption Index which takes into account a wide range of factors including general adoption of cryptocurrencies, the regulatory environment, and how cryptocurrencies are taxed.

Cryptocurrency infrastructure adoption, innovation, and economic factors related to the use of cryptocurrencies were also taken into account.

In a statement published alongside the report, Henley & Partners explained that the index is designed to show “the most attractive investment migration program options for crypto investors.”

Singapore topped the general index, followed by Switzerland in second place and the United Arab Emirates in third place, while the United States and the United Kingdom ranked fifth and seventh, respectively.

Other countries in the top 10 included Australia, which ranked sixth, as well as Canada, Malta and Malaysia, which ranked eighth, ninth and tenth.

Singapore and the United Arab Emirates both get top marks for being tax-friendly to cryptocurrency investors. In this category, the United States and the United Kingdom fell far behind and dropped out of the top 10. However, adoption and public interest are high in the two countries, with the US in third place and the UK in fourth place in this category. The UAE and Singapore occupy the top two spots again, coming in first and second, respectively.

The United States and the United Kingdom also managed to claim first place in some categories. The United States leads the infrastructure adoption table, which takes into account how common cryptocurrency ATMs are, whether there are exchanges for digital assets and how local banks integrate cryptocurrencies, while the United Kingdom leads in the innovation and technology category.

Investing in cryptocurrencies has become very popular in recent years, especially during the COVID-19 pandemic when retail trading apps have skyrocketed. However, economists and investment advisors have urged caution as cryptocurrencies are seen as highly volatile assets that can quickly lose value, and many countries have not yet regulated cryptocurrency investment and trading, or companies in the cryptocurrency space. Thus, users and their funds are less protected and may be vulnerable to crises such as the collapse of the cryptocurrency exchange FTX last year.