Bitcoin has seen a notable increase in millionaire holders throughout 2024, even though the cryptocurrency is still trading below its previous peak of over $73,000.
According to data from BitInfoCharts, there are currently 110,655 Bitcoin addresses with holdings valued at $1 million or more, while 10,434 of these addresses exceed $10 million, as of September 23.
This growth marks a 25% rise in Bitcoin millionaire addresses since the start of the year. On January 4, the number of such addresses stood at 96,736, with 89,322 accounts holding at least $1 million. As a result, 24,353 new millionaire addresses have emerged so far in 2024. However, it is difficult to pinpoint the exact number of individual Bitcoin holders with assets exceeding $1 million, as the decentralized nature of the blockchain keeps ownership details private, with multiple addresses potentially belonging to a single person.
Bitcoin’s price has also experienced significant growth, starting the year at $42,280 and climbing approximately 49% year-to-date. Despite this, many holders likely possess the same amount of Bitcoin, benefiting from the asset’s value increase of around $20,000.
The rise in the number of Bitcoin millionaires reflects the cryptocurrency’s resilience, with its price remaining above $60,000 for much of 2024, even after a correction from earlier highs. Market sentiment suggests a potential rally targeting a new all-time high above $70,000.
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