More than 200 individuals in the United Kingdom have become millionaires through cryptocurrency investments, according to newly released figures from HM Revenue & Customs (HMRC). In the tax year ending April 2025, a total of 240 investors declared capital gains of over £1 million from cryptoassets.
These significant gains accounted for £717 million of the total taxable capital gains from cryptoassets, which reached £1.38 billion across 17,600 individuals during the same period. This represents an average reported gain of approximately £78,000 per person.
This data marks the first time HMRC has published figures on cryptoasset capital gains, following the introduction of a dedicated section on self-assessment tax returns for the 2024/2025 tax year. The move aims to ensure that individuals profiting from cryptocurrencies are aware of their tax obligations.
James Murray MP, Financial Secretary to the Treasury and Paymaster General, stated that taxes are due on cryptoasset gains just as they are on other forms of capital gains. He emphasized that this initiative supports the government's efforts to reduce the tax gap and ensure that everyone contributes their fair share to public services.
The surge in Bitcoin prices, reaching a peak of $126,198 in October 2025, has been attributed in part to a reduction in regulation following President Trump's re-election. This market activity likely contributed to the substantial capital gains reported by UK investors.