Bitcoin’s meteoric rise to $100K in 2024 sent shockwaves through the financial world, significantly boosting the net worth of crypto billionaires. The surge added a staggering $50.8 billion to their combined wealth, with Binance founder Changpeng Zhao emerging as the biggest winner, gaining $34.8 billion.
According to a study by NFT Evening, the number of crypto billionaires increased by 27% in 2024, reaching 28 individuals. The surge in Bitcoin’s price played a key role in wealth distribution, with Bitcoin billionaires growing by 83% to a total of 11. Additionally, crypto millionaires saw a 95% increase, showcasing how Bitcoin’s valuation continues to drive massive financial growth.
Changpeng Zhao (CZ), founder of Binance, saw his net worth skyrocket by 105.45%, reaching $67.8 billion. This makes him the wealthiest crypto billionaire, with a fortune 3.5 times greater than that of the second-richest crypto mogul, Brian Armstrong, CEO of Coinbase. CZ is now the second-youngest billionaire worldwide with a net worth exceeding $60 billion, only behind Mark Zuckerberg.
Who Else Profited from Bitcoin’s Surge?
Several other crypto billionaires saw their fortunes multiply due to Bitcoin’s rally:
| Name | Source of Wealth | Net Worth Increase |
|---|---|---|
| Changpeng Zhao | Binance | $34.8B (+105.45%) |
| Michael Saylor | MicroStrategy, Bitcoin | $6.3B (+143.18%) |
| Chris Larsen | Ripple, XRP | $5.1B (+159.38%) |
| Brian Armstrong | Coinbase | $3.7B (+33.04%) |
| Fred Ehrsam | Coinbase | $0.9B (+29.03%) |
| Total | - | $50.8B (+79.25%) |
Ripple co-founder Chris Larsen recorded the highest percentage growth at 159.38%, with his net worth soaring from $3.2 billion to $8.3 billion. Meanwhile, Michael Saylor, a major Bitcoin investor through Strategy, increased his wealth by 143.18%, gaining $6.3 billion.
The United States remains the leading hub for crypto wealth, hosting two-thirds of all crypto billionaires, including Brian Armstrong, Michael Saylor, and the Winklevoss twins. Canada follows closely, with Binance’s CZ and Tether’s Stuart Hoegner making significant contributions to the country’s billionaire list. Italy and the Netherlands also have prominent figures in the crypto space.
With Bitcoin at $93K right now, crypto wealth might enter a new era of expansion. As adoption grows and institutional investors continue pouring funds into digital assets, the number of crypto billionaires is expected to rise further. While the market remains volatile, those who positioned themselves early in the space are reaping unprecedented financial rewards.
Dayo Paul
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