The crypto market has been on fire in 2025. A new Crypto Wealth Report by Henley & Partners shows just how far things have come. In only one year, the number of people holding over $1 million in crypto wealth jumped 40%, reaching 241,700 individuals worldwide. That’s not a small jump—it reflects how strongly digital assets are moving into the mainstream.
The surge was fueled by overall market strength. The value of the cryptocurrency market rose by 45% from the year before, reaching $3.3 trillion by June 2025. That landmark figure moved many investors past simple curiosity, encouraging them to treat digital assets as a serious part of their portfolios
The answer to the question of who is spearheading the movement is obvious: Bitcoin.
The Wave of Wealth Creation Is Led by Bitcoin
The heavyweight champion of the cryptocurrency world is still Bitcoin. There are currently 145,100 Bitcoin millionaires, a 70% increase in only the last year. Institutional interest in Bitcoin and Ethereum is likely to keep growing, with pension funds, sovereign wealth funds, and major global banks steadily getting on board. At the same time, governments are beginning to recognize investors’ push for friendlier regulations, which means countries are expected to compete even harder to attract crypto wealth.
It’s interesting to note that Bitcoin is no longer only seen as a speculative investment. A lot of investors are beginning to view it as collateral, a virtual basis for accumulating wealth.
As Philipp A. Baumann, founder of Z22 Technologies, explained in the report:
“Bitcoin is becoming the basis for a second financial system… not just a way to make money, but the main currency for building wealth.
Institutional Adoption Driving Momentum
Another big factor behind the rise in crypto millionaires is the role of institutions. This year, inflows into Bitcoin ETFs in the United States increased from $37.3 billion to $60.6 billion, while spot Ether ETFs increased fourfold to $13.4 billion.
Advisory firms and hedge funds are also flooding in. Advisory firms now hold around $1.35 billion worth of ETH ETFs, while hedge funds control another $688 million. This kind of participation has added both liquidity and legitimacy to the market.
When the big money comes in, wealth creation accelerates—and that’s exactly what we’re seeing reflected in the rising millionaire numbers
Concentration of Wealth in the Crypto Market
Now, here’s where things get interesting. While crypto millionaires are growing rapidly, overall crypto adoption is moving much slower. Global users only increased by 5% this year, bringing the total to 590 million.
This shows a clear imbalance: while everyday adoption crawls forward, the real gains are concentrated at the very top. In other words, crypto wealth is becoming just as unequal as traditional finance. A small group of investors is grabbing the biggest slice of the pie.
Borderless Wealth and New Migration Patterns
Institutional interest in Bitcoin and Ethereum is likely to keep growing, with pension funds, sovereign wealth funds, and major global banks steadily getting on board. At the same time, governments are beginning to recognize investors’ push for friendlier regulations, which means countries are expected to compete even harder to attract crypto wealth.
Singapore, Hong Kong, the United States, Switzerland, and the United Arab Emirates are the top five crypto-friendly cities, according to Henley’s Crypto Adoption Index. Meanwhile, countries like El Salvador, Panama, and Uruguay are quickly positioning themselves as attractive alternatives by building favorable regulatory frameworks.
Dominic Volek, Group Head of Private Clients at Henley & Partners, summed it up well:
“Today, cryptocurrency has made geography optional. With nothing more than 12 memorized words, an individual can secure a billion dollars in Bitcoin, instantly accessible from Zurich or Zhengzhou alike.”
Bitcoin as the Foundation of a Parallel Financial System
What this really means is that Bitcoin is moving into a new role. No longer just a tool for speculation, it’s becoming the base layer of a parallel financial structure. With $14 trillion in wealth moving across borders last year, crypto’s portability has changed the game.
The idea that a person can carry enormous wealth in their head—through a simple recovery phrase—is a complete break from centuries of traditional banking systems.
Future Outlook for Crypto Wealth
So, where do we go from here? If things keep going the way they are now, the number of crypto millionaires could go up considerably more in the next few years. As big international banks, pension funds, and sovereign wealth funds slowly get involved, it is likely that more and more institutions will become interested in Bitcoin and Ethereum. As governments start to listen to investors’ calls for less strict restrictions, countries are likely to compete even more to attract bitcoin wealth.
Yet, challenges remain. Broader adoption is still moving slowly, which shows that crypto hasn’t fully opened its doors to everyone. Still, it’s a real concern that such a large share of wealth is controlled by only a small group of individuals. Even so, one thing is undeniable—digital assets are no longer on the sidelines. They’re actively shaping how wealth is built, moved, and preserved around the world.
The message for investors is clear: cryptocurrency isn’t only surviving. It is changing the future of money.
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