Bitcoin’s run has helped create more than 84,000 new crypto millionaires over the past year.
Transcript:
I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Stocks took a step back as tech worries offset mostly good news from the retail sector. A turnaround at Nordstrom is taking hold. The upscale retailer beat profit forecasts and sales narrowly topped expectations. Meanwhile, quarterly results from Chewy blew past estimates and the company gave an upbeat outlook for the rest of the year.
In other news: There are now 172,300 crypto millionaires, up 84,000 from last year, according to findings by New World Wealth and Henley & Partners.
The number of millionaires strictly from bitcoin more than doubled to roughly 85,000 during the same period.
And the growing crypto wealth doesn’t stop there. There are now 325 crypto investors with $100 million or more in crypto assets. And there are 28 crypto billionaires.
Changpeng Zhao holds the top spot for the third year in the row, according to Forbes. The founder and CEO of Binance, the world’s top crypto exchange, is worth about $33 billion. And this comes after Zhao agreed to pay $50 million after pleading guilty to money laundering charges back in November.
A greater adoption of crypto by Wall Street’s old guard is fueling this new crypto wealth. The total market cap of crypto assets has grown to $2.3 trillion year to date, that’s up from $1.2 trillion, the same time a year ago.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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