As a seasoned crypto investor who has weathered numerous market cycles and witnessed the rise and fall of various digital assets, I must admit that 2024 has been an exceptional year for Bitcoin millionaires. With my first Bitcoin purchase back in 2013 at a mere $65, it’s hard to believe that today, over 110,000 individuals have amassed a fortune of at least $1 million in BTC.
2024 saw a market recovery, leading to an increase in newly created Bitcoin millionaires. Since the price of Bitcoin reached a record high this year, the number of Bitcoin wallets containing at least $1 million has significantly increased. In this analysis, we’ll examine how many new millionaires have been minted and compare that figure to last year’s data.
Bitcoin Millionaires Cross 110,000
Approximately 20,000 individuals have become millionaires through Bitcoin in the year 2024 so far, as indicated by BitInfoCharts. As I write this, there are approximately 110,388 Bitcoin millionaires, a significant increase from the 89,322 reported at the beginning of last year.
2024 saw approximately 21,066 new Bitcoin millionaires emerge, marking a significant 18% increase in wealth among BTC investors from January to September. This growth mirrors the rising trend of Bitcoin’s price, which experienced nearly a 50% uptick over the course of one year as well.
The increase in the number of wallets holding coins of a certain value was not only recorded among millionaires. Other wallets across different cohorts have all seen a notable rise. This ranges from BTC wallets holding at least $100 going from 19.8 million to 21.6 million.
In simpler terms, the number of Bitcoin wallets containing at least $1,000 grew from 8.9 million to 10.37 million. However, it’s the increase in the number of wallets containing at least $10,000 that stands out during this period. At the beginning of the year, there were approximately 2.722 million such wallets. But as I write this, the count has surpassed 3.43 million.
Initially, there were 451,129 addresses with over $100,000, but this number has since increased to 621,934 at the current time. Additionally, the group of wallets containing at least $10 million in assets saw a rise as well. It started with 7,414 addresses in January, and now stands at 10,407 wallets.
BTC Seeing Positive Moves
Over the past year, the growth in Bitcoin wallets with a specific balance has been linked to the performance of this digital currency. Initially valued at approximately $44,000 at the start of the year, despite dropping from its record high of $73,000 to $63,000, it still shows a nearly 50% price increase.
There’s been some positive momentum in certain key indicators, particularly with regards to its daily trading activity. Data from CoinMarketCap indicates an impressive 6% surge within just one day, pushing its daily trading volume past $27.75 billion. This uptick hints at a rising fascination with the cryptocurrency, potentially leading to additional price hikes in the future.
Should Bitcoin’s price keep climbing, it’s likely that an increasing number of Bitcoin wallets will move into higher worth categories. In the event that its price sets a completely fresh record high in 2021, there’s potential for the creation of countless new Bitcoin millionaires.
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2024-09-24 11:41