22 people worldwide have reached billionaire status by trading cryptocurrencies

• About 200m people globally who trade bitcoin, just six are billionaires, Henley & Partners found.
• Meanwhile, 22 people worldwide have reached billionaire status by trading cryptocurrencies. 
• Bitcoin rallied in the first half of the year but has since dipped. 

Hundreds of millions of people trade crypto and bitcoin – but only six have reached billionaire status

According to Henley & Partners’ Crypto Wealth Report, some 425 million people use crypto globally, with bitcoin accounting for just under half that number.

There are 88,200 crypto millionaires, 182 centi-millionaires (worth $100 million or more), while 22 individuals have crypto assets worth $1 billion, the report found. 

Investing in bitcoin has also proved a lucrative investment for some – there’s about 40,500 people who have crypto holdings worth $1 million, while six own bitcoin assets valued at $1 billion, per the report.

The findings come as bitcoin, the world’s largest cryptocurrency, dropped 11% in August. That was the second consecutive monthly decline amid a broader sell-off in stocks and bonds. 

Bitcoin was trading at about $25,758 on Thursday. 

The token soared about 80% in the first six months of 2023 and is still up more than 55% year-to-date despite August’s losses.

That’s come as the Federal Reserve hiked interest rates at a historically fast pace to combat inflation. Higher borrowing costs usually weigh on high-risk assets such as crypto. 

Some market experts remain bullish on bitcoin despite the recent signs of stress – and some even claim the token could hit $100,000 by 2025.