CitizenX Crypto Whale Index

The cryptocurrency landscape has seen remarkable growth from 2023 to 2024, with significant increases in both users and high-net-worth individuals.

This report analyzes the latest data on crypto millionaires, centi-millionaires, and billionaires, offering insights into the evolving digital asset space and its potential impact on global citizenship.

Key Findings

1. Explosive Growth in Crypto Millionaires

• Total crypto millionaires: 172,300 (+95% year-over-year)
• Bitcoin millionaires: 85,400 (+111% year-over-year)

The number of individuals holding $1 million or more in cryptocurrency has nearly doubled, with Bitcoin millionaires growing at an even faster rate. This surge indicates a rapidly expanding class of high-net-worth individuals in the crypto space.

2. Rise of Centi-Millionaires and Billionaires

• Crypto centi-millionaires (>$100M): 325 (+79%)
• Bitcoin centi-millionaires: 156 (+100%)
• Crypto billionaires: 28 (+27%)
• Bitcoin billionaires: 11 (+83%)

The upper echelons of crypto wealth have seen substantial growth, particularly in the Bitcoin sector. This trend suggests an increasing concentration of wealth among top crypto holders.

3. Widening User Base

• Total crypto users: 560 million (+32%)
• Total Bitcoin users: 275 million (+31%)

The crypto ecosystem continues to expand its reach, with over half a billion users globally. This growth indicates increasing mainstream adoption and acceptance of digital assets.

4. Market Valuation Surge

• Total crypto market value: $2.3 trillion (+89%)
• Total Bitcoin market value: $1.2 trillion (+103%)

The overall cryptocurrency market has nearly doubled in value, with Bitcoin's market cap growing even faster, surpassing the $1 trillion mark.

What are Bitcoin whales?

Bitcoin whales are individuals or entities that hold large amounts of Bitcoin. While there's no official threshold, typically, anyone holding 1,000 BTC or more is considered a whale.

These major players can significantly influence the Bitcoin market due to their ability to move large volumes of cryptocurrency.

Key characteristics of Bitcoin whales:

• Market Influence: Their large-scale transactions can cause price volatility.
• Diverse Backgrounds: They range from early Bitcoin adopters to institutional investors.
• Strategic Importance: Whales often play a crucial role in providing market liquidity.

How many Bitcoin whales are there?

According to our 2024 data:

• Bitcoin Millionaires (>$1M in BTC): 85,400
• Bitcoin Centi-Millionaires (>$100M in BTC): 156
• Bitcoin Billionaires (>$1B in BTC): 11

While these figures don't directly correspond to the number of addresses holding 1,000+ BTC, they provide insight into the upper echelons of Bitcoin wealth concentration.

The significant year-over-year growth (111% for millionaires, 100% for centi-millionaires, and 83% for billionaires) suggests an expanding whale population.

How many crypto whales are there?

Looking at the broader cryptocurrency ecosystem:

• Crypto Millionaires (>$1M in crypto): 172,300
• Crypto Centi-Millionaires (>$100M in crypto): 325
• Crypto Billionaires (>$1B in crypto): 28

These numbers indicate a larger and more diverse whale population across the entire crypto space compared to Bitcoin alone.

The growth rates (95% for millionaires, 79% for centi-millionaires, and 27% for billionaires) show robust expansion, albeit slightly slower than Bitcoin-specific growth in some categories.

It's worth noting that these figures likely include overlap, as many large crypto holders diversify across multiple cryptocurrencies, including Bitcoin.

Implications for Global Citizens

Wealth Diversification: The rapid growth in crypto wealth presents new opportunities for global citizens to diversify their assets across borders and traditional financial systems.

Increased Mobility: As more high-net-worth individuals emerge from the crypto space, there may be growing demand for citizenship and residency options that cater to digital asset holders.

Regulatory Landscape: The surge in crypto wealth may prompt changes in global financial regulations, a affecting how digital asset holders manage their wealth across jurisdictions.

New Economic Hubs: Countries and jurisdictions that embrace crypto-friendly policies may see an influx of these new millionaires and billionaires, potentially reshaping global economic centers.

Investment in Citizenship: With the rise in crypto wealth, we may see increased interest in citizenship by investment programs, especially those that are crypto-friendly.

The CitizenX Advantage for Crypto Whales

As the number of crypto whales continues to grow, so does the need for sophisticated citizenship solutions tailored to their unique needs. CitizenX offers several key advantages:

• Crypto-Friendly Jurisdictions: We specialize in connecting crypto whales with citizenship opportunities in countries with favorable digital asset regulations.
• Asset Protection Strategies: Our platform helps high-net-worth individuals diversify their citizenship portfolio, mitigating risks associated with regulatory changes in any single jurisdiction.
• Privacy-Focused Solutions: We understand the importance of discretion for large crypto holders and offer secure, private pathways to alternative citizenships.
• Global Mobility: As crypto markets operate 24/7, we provide citizenship options that offer maximum travel flexibility, allowing whales to manage their assets from anywhere in the world.
• Tax Optimization: Our citizenship solutions can help crypto whales navigate complex international tax landscapes, potentially reducing their overall tax burden.

By leveraging CitizenX's expertise, crypto whales can transform their digital wealth into a passport portfolio that provides true global freedom and optionality.

The explosive growth in the cryptocurrency sector, particularly among high-net-worth individuals, signals a shift in the global financial landscape. For global citizens, this presents both opportunities and challenges. As the digital asset space continues to evolve, staying informed and adaptable will be key to navigating this new terrain.

CitizenX remains at the forefront of these developments, offering innovative solutions for global citizens looking to leverage their crypto wealth in pursuit of greater freedom and opportunity. Our platform is uniquely positioned to help this new class of digital asset holders explore citizenship options that align with their values and financial strategies.