UK Tax Data Indicates Bitcoin And Crypto Millionaires Have Made Substantial Capital Gains

The UK’s tax authority has published its first standalone snapshot of declared cryptoasset profits, and the picture is highly concentrated. In the 2024–25 tax year, 240 people told HM Revenue and Customs they had made more than £1 million each in capital gains from digital assets.

Together, that small group accounted for £717 million — more than half of all crypto gains reported that year.

The figures sit inside HMRC’s annual Capital Gains Tax statistics and exist because Self Assessment returns now include a dedicated section for crypto disposals.

Previously those profits were mixed in with other assets, so officials could not isolate them. In 2024–25, 17,600 individuals reported Capital Gains Tax-liable disposals of assets such as Bitcoin, Ethereum and Dogecoin.

They recorded £13.8 billion in disposal proceeds and £1.38 billion in taxable gains, an average of about £78,000 per person. Around 87 percent of those filers were men and 13 percent were women.

The headline “millionaire” cohort is tiny relative to the whole group — roughly 1.4 percent of filers — yet it dominates the totals. That skew is typical of volatile markets in which a minority of early or high-conviction holders capture most of the upside when prices rise.