Bitrabo Editorial
As the market rebounds in 2024, the emergence of new Bitcoin millionaires is becoming increasingly notable. With Bitcoin’s price reaching new heights this year, the number of wallets containing at least $1 million in Bitcoin has surged. In this analysis, we examine the number of new BTC millionaires created and compare these figures to last year’s results.
Total Bitcoin Millionaires Surpasses 110,000
Recent data indicates that over 20,000 individuals have joined the ranks of Bitcoin millionaires in 2024. According to BitInfoCharts, there are currently 110,388 Bitcoin millionaires, a significant rise from 89,322 recorded at the start of last year.
This signifies that 21,066 new Bitcoin millionaires have emerged this year, representing an 18% increase from January to September. This growth reflects the rising wealth among Bitcoin investors, which aligns with the BTC price that has appreciated nearly 50% over the same period.
The increase in high-value Bitcoin wallets isn’t limited to millionaires; wallets across various brackets have also risen. For instance, the number of wallets holding at least $100 grew from 19.8 million to 21.6 million.
Moreover, wallets containing at least $1,000 jumped from 8.9 million to 10.37 million. The category with the most remarkable growth is addresses holding at least $10,000, which increased from 2.722 million at the beginning of the year to over 3.43 million now.
Additionally, wallets holding at least $100,000 rose from 451,129 in January to 621,934 today. Lastly, the total for wallets with at least $10 million increased from 7,414 to 10,407 since January.
Positive Trends for BTC
The growth in Bitcoin wallets with a substantial amount can be attributed to the cryptocurrency’s strong performance over the last year. Bitcoin started the year at approximately $44,000, and despite a drop from its peak of $73,000 to $63,000, it still shows an almost 50% increase in value.
There are also positive signs in its trading activity, notably in daily trading volume. Data from CoinMarketCap indicates a greater than 6% increase just in the last day, pushing daily trading volume over $27.75 billion. This uptick suggests rising interest in Bitcoin, possibly leading to further price increases.
If Bitcoin’s price continues to ascend, it’s likely that even more wallets will transition into higher value brackets. Should the price hit a new all-time high this year, we could see thousands more Bitcoin millionaires emerge.