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A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. The price surge in bitcoin helped created another 70,000 new crypto millionaires over the past year, adding hundreds of billions of dollars in potential spending to the economy, according to new studies. There are now an estimated 241,700 individuals with crypto holdings worth $1 million or more, up 40% from last year, according to Henley & Partners and New World Wealth. There are 450 crypto centimillionaires, or those with crypto holdings of $100 million or more, and 36 crypto billionaires, according to the report. Bitcoin’s price has more than doubled over the past year, as the dollar falls and concerns grow over deficits and fiscal spending. More friendly regulation in the U.S. and wider adoption by investors and traditional financial services companies has also increased demand. On Monday, bitcoin topped $125,000 for the first time before settling back down to around $122,000.  The total market cap of the world’s cryptocurrencies has soared to over $4.3 trillion, adding $2 trillion in paper wealth over the past three years. While still small relative to the recent stock market gains – with Nvidia itself worth over $4 trillion – the crypto boom has created substantial wealth for millennials and the younger investors who were early investors in crypto. “Bitcoin is becoming the foundation of a parallel financial system, where it is not merely an investment for speculation on fiat price appreciation, but the base currency for accumulating wealth,” said Philipp Baumann, founder of Z22 Technologies, a crypto trading firm. The new class of crypto wealthy is so recent that reliable research on their spending and investing habits remains scarce. But a new paper…

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Filed under: News - @ October 10, 2025 1:22 pm