Cryptocurrency

United

Bitcoin

Trillion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>There are currently 88,200 crypto-millionaires globally.</a> </li> 
 <li> <span>2</span> <a>Cryptosphere had a market cap of $1.04 Trillion at the publication time.</a> </li> 
</ul> 
<p>London-based investment advisory firm Henley &amp; Partners released their first crypto wealth report today. Numbers show cryptocurrency adoption is still in its infancy given the current global population. However, it appears the market provided many users an opportunity to become crypto moguls.</p> 
<h2 class="wp-block-heading" id="strong-crypto-was-going-to-become-inevitable-trade-strong"><strong>Crypto Was Going To Become Inevitable Trade</strong></h2> 
<p>According to the report dubbed Crypto Wealth Report, there are currently 88,200 crypto-millionaires globally. Half of them own Bitcoin (BTC), the largest cryptocurrency. However, only a minor portion of this number are centi-millionaires. Nearly 40 percent of them are Bitcoiners.</p> 
<p>The report also mentions expert opinions regarding the sector. Jeff D. Opdyke, an investment expert, highlights that “from the moment Bitcoin was born in 2009, crypto was always going to become the most inevitable trade in 30 years.” In 2021, the sector registered a $3 Trillion market capitalization, the highest to date.</p> 
<p>However, the regulatory landscape is still typical with lawmakers still assessing risks and regulations associated with the digital asset market. A blockchain law specialist,&nbsp; Assoc. Prof. Dr. Mete Tevetoğlu, explains in another report that lack of regulations is misinterpreted as ‘no regulations’. It may result in severe legal consequences.</p> 
<p>Henley &amp; Partners’ Crypto Adoption Index lists Singapore as the most crypto-friendly nation. Government cooperation in the development of the national digital asset sector and taxation is beneficial to both investors and individuals. Switzerland and the United Arab Emirates (UAE) grabbed second and third positions respectively. The report mentions the former for robust infrastructure and security, while the latter is a tax-friendly option.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/3qdsT5709YBsEqgtMGw2SIy6D3Ct5DXPVxtb7RDsFhA9an8wmp8_vytACen8oo1BTRuPbseHjPBWfUlMihCm5T1XCuNOy5MWpPWVFDUB0xKTOmTMmXsc3M8DKf_7wIstBxEREeY4BUBjxj2DiPR2ovY" alt="Crypto Adoption Index by Henley and Partners"> 
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    Source: Henley and Partners 
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<p>Other countries that made it to the index include Hong Kong, Monaco, Antigua and Barbuda, and more. Only a couple of nations, El Salvador and the Central African Republic (CAR) have adopted crypto as a legal tender. American investor Tim Draper <a href="https://www.thecoinrepublic.com/2022/12/10/tim-draper-predicts-a-bright-future-for-el-salvador/" rel="noopener noreferrer nofollow">believes</a> the Bitcoin holds potential to render the South American country an affluent economy.</p> 
<h2 class="wp-block-heading" id="strong-the-us-contains-the-best-cryptocurrency-infrastructure-strong"><strong>The US Contains The Best Cryptocurrency Infrastructure</strong></h2> 
<p>The United States, Australia, the United Kingdom, and more made it to the top 10. Furthermore, the report considers factors including the percentage of digital asset users and Google searches. However, data from search query analyzer, Google Trends, shows interest in the term ‘cryptocurrency’ is at its five-year low now.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/v2Yyto84w8YFncSchhaIxlZlFjJ9pxpDrUftxT6r7jbt2vF0JiK9jO-hmY4B64icr2CUky8kE9r5XVygfmVAKdo466jj7pwn-8gg8f3EnN6UA_ZV50Hjfu1t6H-I1cUo_wR8HSpZgmEXOYPwicTj2TM" alt="Search trend for term 'cryptocurrency' on Google Trends"> 
  <figcaption class="wp-element-caption">
    Source: Google Trends 
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 </figure> 
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<p>The US has the best crypto-related infrastructure. UAE and Singapore aren’t the top contenders in this list. Meanwhile, New Zealand, Thailand, Greece, and more are included. The report assesses the list taking into account the aspects including a number of exchanges, crypto ATMs, bank integrations, and more.</p> 
<p>A better part of the report highlights the brighter side of the market. However, many deem it an extremely volatile market. BTC traded nearly $70K in 2021, the flagship asset is changing hands at $26K at the publication time. Most of the altcoins have historically mirrored their price momentum. Volatility in Bitcoin price may translate into a volatile market.</p>

Half of The Crypto Moguls Hold Bitcoin In Their Portfolio

Table of Contents

Thecoinrepublic.com

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