Bitcoin Millionaires Soar as BTC Price Hits Record High in 2024
BTC Millionaires Reach 110,000 Milestone
With the market rebound in 2024, the number of newly minted Bitcoin millionaires has surged. The soaring price of BTC reaching a new all-time high this year has propelled the number of Bitcoin wallet holders with balances exceeding $1 million. In this report, we delve into the increase in bitcoin millionaires and compare the figures from the previous year.
Over 20,000 New Bitcoin Millionaires Emerge
Data from BitInfoCharts reveals that there are currently 110,388 Bitcoin millionaires in 2024, marking a significant jump from the 89,322 millionaires recorded the year prior. A total of 21,066 new Bitcoin millionaires have been created this year, showing an 18% increase from January to September, mirroring the growth in BTC investors’ wealth and the surge in BTC price by nearly 50% over the year.
Rise in Wallets Across Different Value Cohorts
Apart from millionaires, wallets across different value cohorts have also witnessed a notable rise. Addresses with at least $100 have increased from 19.8 million to 21.6 million. Similarly, wallets holding at least $1,000 jumped from 8.9 million to 10.37 million, while those with at least $10,000 surged from 2.722 million to over 3.43 million. Notably, addresses holding at least $100,000 grew from 451,129 to 621,934, and wallets holding at least $10 million expanded from 7,414 to 10,407.
Bitcoin Continues Positive Growth
The increase in Bitcoin wallets holding varying amounts is correlated with the cryptocurrency’s performance. Despite fluctuations, Bitcoin’s price has maintained a nearly 50% increase from the beginning of the year. Positive metrics indicate growing interest, with daily trading volume surpassing $27.75 billion, potentially driving further price appreciation.
Future Outlook for Bitcoin Millionaires
As BTC price continues its upward trajectory, more Bitcoin addresses are expected to join higher value cohorts. Should BTC hit a new all-time high this year, a wave of new Bitcoin millionaires is anticipated.
Wrapping up, the surge in Bitcoin millionaires and wallet growth across different value tiers in 2024 highlights the increasing wealth and interest in BTC. Encouraging further engagement with the cryptocurrency could lead to more opportunities for investors seeking to capitalize on the digital asset’s momentum.
