More than 200 British crypto investors have become millionaires after reporting major capital gains, according to new figures from HM Revenue & Customs.
Data released by the tax authority shows that 240 investors booked capital gains of more than £1 million in the last tax year. Together, these top earners accounted for £717 million of gains.
Across the entire country, total taxable capital gains from cryptoassets reached £1.38 billion in the year to April 2025. Those gains were split across 17,600 individuals, representing an average reported gain of £78,000 per person.
This is the first time such figures have been published. The collection of the data follows the introduction of a dedicated section for cryptoasset capital gains on self-assessment tax returns for the 2024/2025 tax year.
HM Revenue & Customs is the government department responsible for collecting UK taxes and administering tax regulations. Under British tax law, profits realized from selling or exchanging digital assets are subject to capital gains tax above the annual tax-free threshold.
Treasury tax gap efforts
James Murray MP, Financial Secretary to the Treasury and Paymaster General, stated that digital asset earnings carry the same tax obligations as traditional investments.
"Taxes are due on cryptoasset gains just like any other gains, and we want to make sure people making gains from crypto know about what taxes they owe," Murray said.
"This important work is supporting the Government’s efforts to close the tax gap, so that everyone pays their fair share towards our vital public services," he added.
HM Treasury is the government department tasked with executing public finance policy and managing the national economy. The tax gap refers to the calculated difference between the total tax legally due and the amount collected by authorities.
Market drivers and regulation
The record figures follow a Bitcoin boom that took off after President Trump slashed regulation following his re-election. Cryptocurrency prices subsequently surged, with Bitcoin hitting a peak of $126,198 in October 2025.
Bitcoin is the world's largest digital currency by market capitalization. Cryptoassets are digital representations of value that operate on distributed ledger technology and trade on online exchanges worldwide.
