As the market has recovered in 2024, the number of novel Bitcoin millionaires has increased. Given that the price of BTC has actually reached a novel all-time high this year, the number of Bitcoin wallets with balances of at least $1 million has skyrocketed. Therefore, in this report, we will take a look at how many novel BTC millionaires have been created and how much that number has increased compared to the previous year.
Bitcoin Millionaires Surpass 110,000
Data shows that over 20,000 novel Bitcoin millionaires were created in 2024 alone. According to BitInfo Chartsas of this writing, there are 110,388 Bitcoin millionaires. This is up from 89,322 recorded at the turn of last year.
This means that a total of 21,066 novel Bitcoin millionaires were created in 2024. This translates to an 18% raise between January and September, showing the growing wealth of BTC investors during this time. It also followed the trajectory of BTC’s price, which was also up almost 50% over the year.
The raise in wallets holding coins of a certain value was not seen only among millionaires. Other wallets in different cohorts also saw significant growth. This ranges from BTC wallets holding at least $100 from 19.8 million to 21.6 million.
Next up are addresses holding at least $1,000, which grew from 8.9 million to 10.37 million. Addresses holding at least $10,000 saw one of the biggest jumps during this period. At the beginning of the year, that number was 2.722 million. However, at the time of writing, there are now over 3.43 million Bitcoin addresses holding at least $10,000 worth of BTC.
Then, addresses holding at least $100,000 also grew from 451,129 at the beginning of the year to 621,934 addresses at the time of writing. Last but not least is the larger group, wallets holding at least $10 million. This grew from 7,414 addresses in January to 10,407 wallets today.
BTC sees positive moves
The raise in the number of Bitcoin wallets holding some amount over the past year is related to the cryptocurrency’s performance during that time. Bitcoin started the year at around $44,000 and even after falling from $73,000 to $63,000, it has maintained a nearly 50% price raise.
Some bullishness could also be seen in some indicators, especially in terms of daily trading volume. Data from CoinMarketCap can be seen over 6% raise over the past day, giving a daily trading volume of over $27.75 billion. This suggests growing interest in the cryptocurrency, which could lead to further price growth.
If the price of BTC continues to rise, it is expected that more Bitcoin addresses will enter the higher-value cohort. If the price reaches a novel all-time high this year, thousands of novel Bitcoin millionaires could also be minted.
Featured image created with Dall.E, chart from Tradingview.com
