The year 2024 has seen a significant market recovery, leading to a surge in the number of newly minted Bitcoin millionaires. The price of Bitcoin reached a new all-time high, resulting in a substantial increase in the number of Bitcoin wallet balances holding at least $1 million. In this report, we delve into the details of how many new BTC millionaires have been created and the growth compared to the previous year.
As of the latest data, there are now 110,388 Bitcoin millionaires, with over 20,000 new millionaires added in 2024 alone. This marks a substantial increase from the 89,322 millionaires recorded at the beginning of the previous year. The growth of 21,066 new Bitcoin millionaires in 2024 represents an 18% surge from January to September, showcasing the increasing wealth of BTC investors during this period. This growth aligns with the trajectory of the BTC price, which has risen by almost 50% in the past year.
The increase in the number of wallets holding coins of various values has been observed across different cohorts, not just among millionaires. The number of BTC wallets holding at least $100 has increased from 19.8 million to 21.6 million. Similarly, addresses holding at least $1,000 have grown from 8.9 million to 10.37 million, while those holding at least $10,000 have surged from 2.722 million to over 3.43 million. Addresses holding at least $100,000 also saw growth from 451,129 to 621,934, and wallets holding at least $10 million increased from 7,414 to 10,407.
The positive movements in Bitcoin’s price have contributed to the rise in the number of wallets holding certain amounts of BTC over the past year. Despite fluctuations, Bitcoin has maintained an almost 50% increase in price, starting the year around $44,000 and reaching a high of $73,000 before settling at $63,000. Additionally, metrics like daily trading volume have shown bullishness, with a 6% increase in the last day alone, surpassing $27.75 billion. This growing interest in the cryptocurrency could potentially lead to further price increases.
If the price of Bitcoin continues to rise and reaches a new all-time high in 2024, it is expected that more Bitcoin addresses will enter higher value cohorts. This could result in the minting of thousands of new Bitcoin millionaires. The surge in Bitcoin millionaires and the overall growth in wallet balances holding various amounts of BTC reflect the positive momentum and increasing interest in the cryptocurrency market.
In conclusion, the market recovery in 2024 has led to a significant increase in the number of Bitcoin millionaires and wallets holding various amounts of BTC. The performance of Bitcoin, with its price increase and positive metrics, indicates a growing interest in the cryptocurrency and the potential for further growth. As the cryptocurrency market continues to evolve, the number of Bitcoin millionaires and the wealth of BTC investors are expected to rise further in the coming years.
