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Bitcoin millionaires

Here’s How Many New Bitcoin Millionaires Have Been Made In 2024

Scott Matherson
by Scott Matherson
1 year ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

With the market recovery in 2024, the number of newly minted Bitcoin millionaires have been on the rise. Given that the BTC price actually touched a new all-time high this year, the number of Bitcoin wallet holding balances of at least $1 million have skyrocket. So, in this report, we take a look at how many new BTC millionaires have been made and how much the number has grown compared to the figure from the previous year.

Bitcoin Millionaires Cross 110,000

Data shows that over 20,000 new Bitcoin millionaires have been made so far in 2024 alone. According to BitInfoCharts, there are now 110,388 Bitcoin millionaires at the time of this writing. This is in contrast to 89,322 figure that was recorded at the turn of last year.

Related Reading: XRP Price Bollinger Bands Return To Levels That Triggered 650x Increase

This means that a total of 21,066 new Bitcoin millionaires have been created in 2024. This translates to an 18% surge between January and September, showing the growing wealth of BTC investors during this time.  It has also followed the trajectory of the BTC price, which is up by almost 50% in 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.

The next cohort is addresses holding at least $1,000, which went from 8.9 million to 10.37 million. Addresses holding at least $10,000 saw one of the most significant jumps during this time period. The figure stood at 2.722 million at the start of the year. However, by the time of this writing, there are now over 3.43 million Bitcoin addresses holding BTC worth at least $10,000.

Then, the addresses holding at least $100,000 also grew from 451,129 at the start of the year to 621,934 addresses at the time of writing. Last but not least is the larger cohort, which is wallets holding at least $10 million. This grew from 7,414 addresses back in January to 10,407 wallets presently.

BTC Seeing Positive Moves

The rise in the number of Bitcoin wallets holding a certain amount over the last year is tied to the performance of the cryptocurrency during this time. Bitcoin started out the year around $44,000 and even after falling from its $73,000 all-time high to $63,000, maintains an almost 50% increase in price.

Related Reading: Dogecoin Ready For Bullish Breakout, But $0.11 Is The Defining Level

There have also been some bullishness in some of its metrics, especially when it comes to its daily trading volume. Data from CoinMarketCap shows an over 6% increase in the last day alone, bringing its daily trading volume above $27.75 billion. This suggests a growing interest in the cryptocurrency, which could lead to a further increase in price.

If the price of BTC continues to rise, then it is expected that more Bitcoin addresses will enter a higher value cohort. If the price does reach a brand new all-time high this year, then thousands of new Bitcoin millionaires could be minted as well.

BTC price chart from Tradingview.com (Bitcoin millionaires)
BTC price up almost 50% in one year | Source: BTCUSD on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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