Private wealth held in cryptocurrencies exceeded $1 trillion by June this year as the digital currency gains popularity worldwide.

The inaugural Crypto Wealth Report published by international wealth and investment migration specialists Henley & Partners indicates that individual wealth held in crypto attained a total of $1.8 trillion globally.

The report, which was released on Tuesday, shows that of the 425 million crypto users, there were 88,200 millionaires, 182 centi-millionaires and 22 billionaires.

A graphic indicating the number of individuals holding crypto wealth. (BDA)
A graphic indicating the number of individuals holding crypto wealth. (BDA)

Bitcoin had 210 million users, including 40,500 millionaires, 78 centi-millinaires and six billionaires.

six parameters on embracing of crypto were employed during the study, these included public adoption, infrastructure adoption, innovation and technology, regulatory environment, economic factors and tax-friendliness.

Singapore ranked top in adoption, scoring 50.2 out of 60, followed by Switzerland (46.9), UAE (45.7), Hong Kong (45.6) and the US (44.3).

The report states that the exclusive statistics on the number of crypto and Bitcoin millionaires, centi-millionaires, and billionaires was provided by global wealth intelligence firm New World Wealth, as well as insights from leading academics, industry experts, and crypto players.

The report also features Henley & Partners’ Crypto Adoption Index, which compares the best residence and citizenship by investment options for crypto investors.