Bitcoin the most popular crypto for wealth creation, new report reveals

Crypto has made more than 88,000 people millionaires but crypto billionaires are a far more elite group.

Just 22 people worldwide can lay claim to the title of cryptocurrency billionaire by owning crypto worth in excess of US$1 billion, the first ever Crypto Wealth Report has found.

Among them are Changpeng Zhao, founder and CEO of crypto exchange Binance, Jed McCaleb and Chris Larsen, co-founders of digital payment network Ripple, Nikil Viswanathan and Joseph Lau, co-founders of lockchain developer platform Alchemy, Brian Armstrong, CEO and co-founder of US crypto exchange Coinbase, and twins Cameron and Tyler Winklevoss, of The Social Network fame, who founded the Gemini exchange, Forbes reports.

Crypto billionaires Cameron and Tyler Winklevoss. Picture: Dia Dipasupil/Getty Images/Entertainment Weekly

Binance Co-founder and CEO Changpeng Zhao tops the list of crypto billionaires. Picture: Instagram.

Crypto centi-millionaires (who own more than $US100 million in crypto) are slightly more common, with 182 people falling into this category, while there are 88,200 cryptocurrency millionaires worldwide, the report from wealth and investment migration specialists Henley & Partners found.

Bitcoin remains the most popular crypto owned by both the mega rich and ordinary investor, the report said, with 46 per cent of crypto millionaires, 43 per cent of crypto centi-millionaires and 27 per cent of crypto billionaires holding their fortune in Bitcoin.

Globally, cryptocurrencies are owned by 425 million people, and 49 per cent of that wealth is held in Bitcoin.

Bitcoin remains highly volatile and is currently trading at around US$26,000 after trading at a high in excess of US$68,000 in 2021.

The report reveals that as at June 30, the total market value of crypto was US$1.18 billion (A$1.85 billion).

Finder co-founder Fred Schebesta is among Australia’s crypto millionaires. Picture: Jane Dempster/The Australian.

In Australia, Crypto News Australia recently published a list of 10 local crypto millionaires, with Finder co-founder Fred Schebesta, who The Australian Financial Review estimates is worth $210 million, among them.

Others in the colourful bunch include Bitcoin bad boy Sam Karagiozis, who founded the failed Auscoin cryptocurrency and was subsequently arrested on drug importation charges for allegedly importing more than 100 packages of drugs through the mail, and London-based Aussie Craig Wright, who claims to be Bitcoin creator Satoshi Nakamoto.

Colourful Aussie crypto entrepreneur Sam Karagiozis. Picture: Twitter.

Australia was also found to be the sixth best place for crypto investors to have citizenship, according to another Henley & Partners report, the Crypto Adoption Index.

The Index assesses countries out of 100 based on factors including public adoption and infrastructure adoption of crypto, innovation and technology, regulatory environment, economic factors and tax-friendliness.

Overall Singapore was the top-ranked country with a score of 84 per cent, with Switzerland second place on 78 per cent.

They were followed by the UAE and Hong Kong at 76 per cent, the US on 74 per cent and Australia at 72 per cent.

Australia joined Singapore and Switzerland as frontrunners when it comes to providing a supportive regulatory environment that balances innovation with consumer protection.

Australia also made the top ten when ranking the percentage of crypto users relative to the total population and Google searches related to cryptocurrency.