Bitcoin is up about 55% this year.
Getty Images
Of about 200 people globally who trade bitcoin, just six are billionaires, Henley & Partners found.
Meanwhile, 22 people worldwide have reached billionaire status by trading cryptocurrencies.
Bitcoin rallied in the first half of the year but has since dipped.
Hundreds of millions of people trade crypto and bitcoin – but only six have reached billionaire status.
According to Henley & Partners’ Crypto Wealth Report, some 425 million people use crypto globally, with bitcoin accounting for just under half that number.
There are 88,200 crypto millionaires, 182 centi-millionaires (worth $100 million or more), while 22 individuals have crypto assets worth $1 billion, the report found.
Investing in bitcoin has also proved a lucrative investment for some – there’s about 40,500 people who have crypto holdings worth $1 million, while six own bitcoin assets valued at $1 billion, per the report.
The findings come as bitcoin, the world’s largest cryptocurrency, dropped 11% in August. That was the second consecutive monthly decline amid a broader sell-off in stocks and bonds.
Bitcoin was trading at about $25,758 on Thursday.
The token soared about 80% in the first six months of 2023 and is still up more than 55% year-to-date despite August’s losses.
That’s come as the Federal Reserve hiked interest rates at a historically fast pace to combat inflation. Higher borrowing costs usually weigh on high-risk assets such as crypto.
Some market experts remain bullish on bitcoin despite the recent signs of stress – and some even claim the token could hit $100,000 by 2025.