A new report reveals that the number of crypto millionaires worldwide has surged by 111% over the past year, now totaling 85,400, cryptonews.com reveals.

The Crypto Wealth Report 2024, compiled by international wealth and investment migration specialists at Henley & Partners, underscores how the recent Bitcoin rally has significantly increased the number of crypto millionaires.

Dominic Volek from Henley & Partners credits this dramatic rise to the approval of US spot Bitcoin ETFs in January, which he says "unleashed a torrent of institutional capital" following the long-anticipated approval of spot Bitcoin and Ethereum ETFs.