Crypto Millionaires Double in 2024, Opportunities Amid Market Dip

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The recent post by New World Wealth and Henley & Partners has gained massive attention, as the number of Crypto millionaires has doubled this year. Additionally, on August 31, 2024, Nate Geraci the ETF expert and president at the ETF store made a post on X (previously Twitter) stating that the number of crypto millionaires nearly doubled to 172,300 in the 12 months ending June 2024. 

Crypto and Bitcoin Millionaires on the Rise

The number of centi-millionaires has increased by 80% to 325, and the number of billionaires has risen by 27%, currently standing at 28.  However, during the same period, the number of Bitcoin millionaire who holds only BTC increased by 111%, with their total rising to 85,400 as of this writing. Meanwhile, the number of Bitcoin centi-millionaires and Billionaires have increased by 100% and 83% respectively during the same period. 

Source: Henley global

This data indicates the potential of generating wealth in this rapidly evolving cryptocurrency landscape. Since the beginning of 2024, we have seen significant developments, increased adoption, political support, and many other advancements in this growing sector.

Current Market Opportunities

However, since June 2024, the overall cryptocurrency market has experienced a notable downturn. At present, it appears that there are many opportunities to make money in this rising industry in the recent market fall. 

Currently, major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) have seen notable price drops. According to Coinmarketcap data, BTC, ETH, SOL, and DOGE have experienced a price drop of over 10%, 22%, 19%, and 12%, respectively in the past month.