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- There are 22 crypto billionaires in the world, of which only six invest in Bitcoin.
- The report shows that Singapore, Switzerland and the UAE are the most crypto-friendly countries.
Only 22 people in the world have crypto investments worth at least $1 billion. Of them, only six have their investments in Bitcoin [BTC].
The findings were part of the “Crypto Wealth Report” published from London-based consultancy Henley & Partners on September 5.
According to the report, there are 88,200 millionaires with crypto holdings worldwide. Of them, 40,500 investors keep their virtual investments in Bitcoin.
The report also revealed that 182 individuals own more than $100 million in crypto. And 78 of these centimillionaires keep their virtual investments in Bitcoin.
Source: Henley & Partners
While the report does not name any crypto billionaires, we are aware of the high-profile crypto holdings of certain individuals.
Founder and CEO of the Digital Currency Group Barry Silbert, co-founders of Gemini Cameron and Tyler Winklevoss, Binance [BNB] CEO Changpeng Zhao, Coinbase [COIN] CEO Brian Armstrong, Ripple [XRP] co-founder Chris Larsen and Michael Saylor, Executive Chairman of MicroStrategy, are among the wealthiest crypto investors.
In total, as many as 425 million individuals around the world own some form of crypto asset.
Singapore, Switzerland and the UAE most crypto-friendly countries
The report also included a Crypto Adoption Index. A wide range of factors including public adoption, infrastructure adoption, the regulatory environment, tax rules, etc. were taken into account to list the best crypto-friendly countries.
Source: Henley & Partners
Singapore, Switzerland and the United Arab Emirates (UAE) have become the top three countries to top the Index.
Hong Kong, Australia, UK, Canada, Malta and Malaysia also made it to the list of the top 10 crypto-friendly locations.
Singapore and the UAE top the list in terms of both tax friendliness and public adoption. However, when it comes to the regulatory environment, Singapore and Switzerland top the list, while the UAE lags far behind.
Henley & Partners CEO Juerg Steffen underlined a significant increase in inquiries from crypto millionaires about crypto-friendly countries in recent months. He said,
“We have seen a significant spike in inquiries from crypto millionaires over the past six months who want to protect themselves against potential future bans on the trading or use of cryptocurrencies in their home countries and mitigate the risks of aggressive tax policies that digital asset tax source.”
A large number of crypto stakeholders, including entrepreneurs, traders, and miners, are interested in investment migration strategies to optimize their crypto assets.
Combative regulation through enforcement and looming crypto bans are forcing crypto enthusiasts to seek safer havens.