Bitcoin’s New All-Time High Created Thousands of New Millionaires

BItcoin's price recently surged to $75,000, following a rapid surge in the last 24 hours, which led to a drastic increase in the number of Bitcoin millionaires.

This uptick could be attributed to Donald Trump winning the presidential race in the U.S.

OOne month ago only 121,061 Bitcoin addresses held over $1 million, but by today, this figure had jumped to 132,842—an increase of 11,487 millionaire addresses.

Per the data, 121,126 addresses currently hold between $1 million and $9.99 million, and 11,716 surpass the $10 million mark. This is a notable jump from the 10,434 addresses with over $10 million recorded a month ago. This growth was primarily driven by Bitcoin’s strong price momentum during this past month, where the cryptocurrency bottomed out at around $63,500 and climbed to a new ATH.

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While some of this increase in millionaire addresses could suggest that crypto whales are cashing out, the 30-day increase in millionaire counts, at 9.73%, shows growing investor confidence.

It’s important to note that a single Bitcoin address doesn’t necessarily represent an individual; an address can belong to one person or multiple investors pooling funds.

Bitcoin’s surge may be partially fueled by Trump’s return, as he’s perceived as more supportive of cryptocurrencies, in contrast to Kamala Harris. This shift could boost optimism among crypto investors, especially with pro-Bitcoin figures like Robert F. Kennedy Jr. and Elon Musk also in the picture.