The number of individuals globally, who hold $1 million or more in cryptocurrency assets has increased by 95% since 2023, with more than half of them invested in Bitcoin, according to a newly released report.

Crypto Wealth Report 2024, compiled by the London-based “international wealth and investment migration specialists” Henley & Partners, also showed an 89% increase in total market value of crypto assets, from last year’s $1.2 trillion to $2.3 trillion.

“The cryptocurrency landscape of 2024 bears little resemblance to its predecessors,” Dominic Volek of Henley & Partners said in a statement, noting that the “long-awaited approval of spot Bitcoin and Ethereum ETFs [exchange-traded funds] unleashed a torrent of institutional capital.”

“rarefied cohort” of crypto billionaires has expanded by 27% to 28 people across the globe.

“Of the six new crypto billionaires created over the past year, five came from Bitcoin, underscoring its dominant position when it comes to attracting long-term investors who buy large holdings,” said Andrew Amoils, head of research at South Africa-based New World Wealth.

“a keystone asset” of the market.

“join the Wall Street party, which will help start a new era of crypto adoption “where digital assets increasingly cross-pollinate with traditional finance and global mobility.”

“residence and citizenship by investment” and says it has seen a “significant uptick” in wealthy crypto investors seeking to emigrate this year.

Crypto Adoption Index, a bench-marking tool that ranks countries by their friendliness to the cryptocurrency technology. The top three spots in the 2024 index are occupied by Singapore, Hong Kong and the United Arab Emirates, with the US and the UK rounding out the top five.