A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.

The price surge in bitcoin helped create another 70,000 new crypto millionaires over the past year, adding hundreds of billions of dollars in potential spending to the economy, according to new studies.

There are now an estimated 241,700 individuals with crypto holdings worth $1 million or more, up 40% from last year, according to Henley & Partners and New World Wealth. There are 450 crypto centimillionaires, or those with crypto holdings of $100 million or more, and 36 crypto billionaires, according to the report.

Bitcoin's price has more than doubled over the past y

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