Bitcoin boom drives surge in crypto millionaires

Bitcoin's run has helped create more than 84,000 new crypto millionaires over the past year.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange.

00:02Here's what we're watching on the street today.

00:05Stocks took a step back as tech worries offset mostly good news from the retail sector.

00:10A turnaround at Nordstrom is taking hold.

00:12The upscale retailer beat profit forecasts and sales narrowly topped expectations.

00:17Meanwhile, quarterly results from Chewy blew past estimates and the company gave an upbeat

00:22outlook for the rest of the year.

00:24In other news, there are now 172,300 crypto millionaires, up 84,000 from last year, according

00:32to findings by New World Wealth and Henley & Partners.

00:36The number of millionaires strictly from Bitcoin more than doubled to roughly 85,000 during

00:41the same period.

00:43And the growing crypto wealth does not stop there.

00:46There are now 325 crypto investors with $100 million or more in crypto assets, and there

00:52are 28 crypto billionaires.

00:55Changpeng Zhao holds the top spot for the third year in a row, according to Forbes.

01:00The founder and CEO of Binance, the world's top crypto exchange, is worth about $33 billion.

01:05This comes after Zhao agreed to pay $50 million after pleading guilty to money laundering

01:10charges back in November.

01:12A greater adoption of crypto by Wall Street's old guard is fueling the new crypto wealth.

01:17The total market cap of crypto assets has grown to $2.3 trillion year-to-date.

01:23That's up from $1.2 trillion the same time a year ago.

01:28That'll do it for your daily briefing from the New York Stock Exchange.

01:31I'm Conway Gittens with The Street.