Cryptocurrency is the biggest scam? Why are so many people flocking to it? Because it is the last chance for ordinary people to turn things around!

Even if you don’t speculate in cryptocurrencies, there are many people who know stories of people who lost everything by speculating in cryptocurrencies.

Bitcoin has even been called the "biggest scam of the century" by some.

But one fact that cannot be ignored is that cryptocurrencies, including Bitcoin, have become one of the fastest ways for ordinary people to acquire huge wealth.

How many people in the world have crypto assets worth more than one million US dollars? The answer is 172,300 people!

Among them, the number of millionaires holding Bitcoin reached 85,400.

In August this year, an international investment immigration agency released a report called "2024 Crypto Wealth Report".

Here are some eye-catching statistics:

1. The total market value of crypto assets has now reached a staggering $2.3 trillion, compared to $1.2 trillion last year, an increase of 89%;

2. Currently, there are 172,300 people in the world who hold more than $1 million in crypto assets, including Bitcoin, Ethereum, NFT, initial coin offerings, mining and staking.

Among them, the number of millionaires holding Bitcoin soared 111% to a staggering 85,400.

3. The number of cryptocurrency multimillionaires (those holding $100 million or more in crypto assets) increased by 79% to 325.

4. Cryptocurrencies have also led to a 27% increase in the number of cryptocurrency billionaires, with 28 people worldwide currently holding crypto assets worth more than $1 billion.

5. In the past year, a total of 6 new cryptocurrency billionaires were born. Among them, 5 came from Bitcoin, which dominates the portfolios of long-term investors.

From this report, we can see that Bitcoin is definitely the king among cryptocurrencies.

If you invested $81,000 in Bitcoin in 2012 and held it until now, congratulations, you would become a billionaire.

Is it still worth buying Bitcoin at such a high price?

In May this year, the price of Bitcoin soared to more than $71,000. In the following months, the price of Bitcoin fluctuated repeatedly, rebounding to around $63,000 due to the Federal Reserve's interest rate cut.

Many onlookers can’t help but wonder, is Bitcoin still worth buying now?

A foreign Bitcoin analyst pointed out that holding Bitcoin for at least one period (about four years) has never produced negative returns. During this period, the average annualized return of Bitcoin was 30%.

Is this really the case? Let's look back at past data.

Before 2012, Bitcoin was still a new thing and its price was less than $10.

At the beginning of 2013, one bitcoin was worth $13, but by the end of the year it had soared to $754, an increase of more than 5,600%.

Four years later, in 2017, Bitcoin had another highlight moment, with its price soaring by more than 1,200% and reaching $10,000 for the first time in November of that year.

In 2021, the price of Bitcoin began to soar from less than 10,000 US dollars in the previous year, rising to 64,000 US dollars in November of that year.

If we follow the above analysts’ views, 2025 will be a new cycle. Can Bitcoin rise sharply again?

There is also extremely important news about Bitcoin.

That is, the U.S. SEC (Securities Commission) approved the spot Bitcoin ETF, marking 2024 as a transformative year for the digital asset industry.

Bitcoin’s enormous potential to boost the performance of traditional investment portfolios highlights its growing importance in the world’s financial system.

Cryptocurrency has not only created more wealthy people, but also changed where the wealthy live and work.

Many of the newly minted crypto tycoons are looking to relocate to jurisdictions with better tax policies and a more crypto-friendly environment.

The report publisher created a "Crypto Adoption Index" to rank countries and regions around the world based on how they tax and regulate cryptocurrencies.

Singapore ranked first in the index due to its "supportive banking system, significant investment, comprehensive regulations such as the Payment Services Act, regulatory sandbox and alignment with global standards."

Hong Kong, China ranks second, followed by the UAE and the United States. Relevant statistics show that 15% of the U.S. population owns cryptocurrencies.

Predictably, as countries compete to attract this new wave of digital wealth, the most successful jurisdictions in this digital gold rush will be those that are able to offer a holistic ecosystem for cryptocurrency investors – combining favorable regulations, strong infrastructure, and pathways to alternative citizenship or residency.

This year is a hellish bull market, and it is difficult for individuals to grasp the trend. If you want to dig deeper into the cryptocurrency circle, you might as well follow Conan - Trend is King! Get the latest information and accurate daily analysis of mainstream currencies!