A new report has found that nearly half a billion people worldwide have some form of %Cryptocurrency investment.
Henley & Partners’ latest “Crypto Wealth Report” says that 425 million people globally are invested in some type of cryptocurrency, with holdings of %Bitcoin ($BTC) the most common.
Breaking it down by generations, more than half of Generation Z (people between the ages of 18 and 25) are currently invested in crypto.
The report also found that there are 88,200 people worldwide who have cryptocurrency assets worth at least $1 million U.S., which is less than 1% of all crypto investors.
Only 182 investors currently have cryptocurrency holdings worth more than $100 million U.S. and there are only six people worldwide who can claim to be crypto billionaires.
The total value of the cryptocurrency market is currently estimated at $1.18 trillion U.S., according to Henley & Partners, down from a 2021 peak of $3 trillion U.S. when Bitcoin’s price was at an all-time high of $68,000 U.S.
Among countries, Singapore has the most cryptocurrency investors, followed by Switzerland and the United Arab Emirates. The U.S. and United Kingdom ranked fifth and seventh respectively.
Other countries in the top 10 among cryptocurrency investors include Australia, Canada, Malta, and Malaysia.
While investing in cryptocurrencies remains popular, particularly among younger generations, some analysts and regulators continue to urge caution, noting the $8 billion U.S. collapse last year of cryptocurrency exchange FTX that wiped out many people’s savings.
Bitcoin is currently trading at $25,700 U.S., up 55% so far in 2023.