The number of global encryption millionaires has surged by 40%, exceeding 240,000! 17 individuals have entered the billionaire club.

On September 24, 2025, news from Henley & Partners' “Crypto Wealth Report 2025” shows that the number of crypto millionaires worldwide surged by 40% to 241,700 people, with a total market capitalization exceeding $3.3 trillion. The number of Bitcoin millionaires increased by 70% to 145,100, and the number of billionaires rose to 17. This growth is attributed to institutional investment and ETF fund inflows, with the U.S. spot Bitcoin ETF inflow increasing from $37.3 billion to $60.6 billion in 2025, and Ethereum ETF inflows quadrupling to $13.4 billion. Despite user adoption only rising by 5% to 590 million, the explosive growth of crypto wealth highlights Bitcoin's role as a “base currency.” The U.S., Singapore, and Hong Kong have become top migration centers, and Galaxy Digital CEO Mike Novogratz warned that Bitcoin reaching $1 million could signal a U.S. economic crisis.

The number of encryption millionaires surged by 40%, with Bitcoin leading the wealth rise.

The “Crypto Wealth Report 2025” published by Henley & Partners in collaboration with New World Wealth reveals that the number of crypto millionaires worldwide surged by 40% in the past year, reaching 241,700. This figure reflects the total market capitalization of the crypto market surpassing $3.3 trillion by mid-2025. Bitcoin continues to dominate the rise, with its millionaire count soaring by 70% year-on-year to 145,100. From July 2024 to June 2025, Bitcoin outperformed the broader market, driving this wealth explosion.

The report is based on proprietary wealth tier models, data from CoinMarketCap, mainstream CEXs, and Etherscan, emphasizing that institutional adoption is the main driving force. Z22 Technologies founder Phillipp Baumann pointed out that Bitcoin is becoming the “base currency” for accumulating wealth, with its fixed supply and global demand reinforcing this position. Although overall user adoption has only risen by 5% to 590 million people, the number of ultra-high-net-worth crypto holders has significantly increased, highlighting the trend of wealth concentration.

Bitcoin Ultra-Rich Class Surge: Millionaires Increase by 63%, Billionaires Reach 17

The surge of ultra-wealthy individuals in Bitcoin is particularly noteworthy, with the number of millionaires holding over 100 million USD in BTC rising by 63% to 254 people, and the number of Bitcoin billionaires increasing to 17, a rise of 55%. Henley & Partners stated that this growth coincides with a “watershed year” for institutional involvement in the encryption space, with US spot Bitcoin ETF inflows jumping from 37.3 billion USD to 60.6 billion USD by 2025, and spot Ether ETF inflows quadrupling to 13.4 billion USD.

Consulting firms and hedge funds are particularly active, with their spot ETH ETF holdings reaching 1.35 billion USD and 688 million USD, respectively, while private equity firms and brokers also increased their exposure. The report emphasizes that this leap in encryption wealth is not only due to the market rebound but also benefits from regulatory clarity and the maturity of ETF products, driving Bitcoin's transformation from a speculative asset to a strategic reserve.

Institutional Investment and ETF Inflows Ignite Encryption Wealth Rise

Institutional participation is the core engine behind the surge of crypto millionaires. The Henley report indicates that by 2025, institutional adoption will reach a milestone, including the first cryptocurrencies launched by the U.S. presidential couple, further boosting market confidence. The inflow of funds into Bitcoin ETFs has reached record levels, reflecting the migration of traditional finance towards digital assets, while the quadrupling of Ethereum ETFs highlights the rise of multi-asset strategies.

This trend resonates with global economic uncertainty, enhancing the appeal of crypto assets as an inflation hedge. According to the report data, the total number of crypto billionaires has reached 36, a rise of 29%, with significant contributions from Bitcoin. The Henley Crypto Adoption Index shows that the United States, Singapore, and Hong Kong are the top migration centers for crypto investors, while Switzerland and the UAE rank in the top five. Small countries like El Salvador, Panama, and Uruguay attract digital asset holders through favorable regulations and tax policies.

Novogratz Warns: Bitcoin at 1 Million Dollars May Signal Economic Crisis in the U.S.

Despite the booming crypto wealth, Galaxy Digital CEO Mike Novogratz warned in the August 2025 Coin Stories podcast that if Bitcoin reaches $1 million in 2026, it would signal not a victory but rather a collapse of the U.S. economy. He stated, “For those cheering for Bitcoin to hit a million next year, I must say, that can only happen if the domestic situation is so dire. I would prefer a lower Bitcoin price but a more stable America.” Novogratz explained that extreme currency devaluation often stimulates demand for alternative safe-haven assets, with Bitcoin acting as a “digital gold” hedge, but this comes at the expense of civil society.

He criticized Treasury Secretary Scott Bessent for failing to curb the surge in debt, with the debt/GDP ratio continuing to worsen and the government deficit set to widen further. This view echoes the concerns of Glassnode's chief analyst James Check, who believes that the 'easy gains' from corporate Bitcoin treasury strategies have vanished, and new entrants face challenges in a mature market; Matthew Sigel, head of digital asset research at VanEck, also expressed concerns about publicly traded companies' Bitcoin treasury strategies, warning that they could evolve into a bubble.

Conclusion

The report by Henley & Partners highlights the explosive rise of crypto wealth, with the number of millionaires reaching 241,700 globally, complemented by institutional adoption led by Bitcoin. However, Novogratz's warning serves as a reminder that underlying macro risks lurk behind this prosperity, such as U.S. economic turmoil potentially accelerating Bitcoin's safe-haven demand while undermining overall stability. The rise of migration centers and policy innovations in small countries further reshape the global crypto landscape, with Q4 2025 ETF inflows and regulatory dynamics set to determine the continuation of wealth trends, requiring investors to balance opportunities with systemic challenges.

Disclaimer: This article is for news information only and does not constitute any investment advice. The encryption market is highly volatile, and investors should make cautious decisions.