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Here’s how many millionaires Bitcoin creates daily

Here's how many millionaires Bitcoin creates daily

The powerful surge that propelled Bitcoin (BTC) above the $73,000 mark and set new all-time highs has sent shockwaves through the cryptocurrency world. Bullish sentiment is driving gains, particularly for long-term holders.

A surge of 64% since the start of 2024 has turned numerous holders of the leading cryptocurrency into millionaires, with approximately 1,500 new millionaire wallets being created daily, as crypto analytics firm Kaiko Research reported on March 11.

However, the current daily rate of millionaires created is less than half the 4,000 per day rate seen during the 2021 bull run.

How many Bitcoin millionaires are there?

The rise in Bitcoin’s price has exponentially increased the number of millionaires holding the original cryptocurrency, which is evident when comparing the numbers from now to a few months ago.

As of March 13, data shows that the total number of addresses holding a value of at least $1 million reached 120,473. Among these addresses, 11,379 hold Bitcoin worth at least $10 million.

Bitcoin wallet holdings amount. Source: bitinfocharts
Bitcoin wallet holdings amount. Source: bitinfocharts

Compared to the previous data obtained by Finbold on December 25, these numbers stood at 97,280 addresses holding at least $1 million worth of BTC, and 7,450 possessed at least $10 million worth of the cryptocurrency. 

This indicates that the number of millionaires has grown by 27,122 new addresses, or 25.89%, over the past three months.

It’s important to acknowledge that it is difficult to pinpoint the exact number of individuals who possess over $1 million in Bitcoin. Although data on the number of Bitcoin accounts and their balances is publicly accessible, ownership specifics remain undisclosed. Multiple accounts could belong to the same individual; conversely, numerous people might jointly hold one account.

Bitcoin price chart

As of the current writing, the BTC price is $72,527, marking a 0.25% increase over the past 24 hours. This contributes to a 9.71% growth over the past seven days, further bolstering an impressive increase of 47.45% over the past month.

BTC 24-hour price chart. Source: Finbold
BTC 24-hour price chart. Source: Finbold

The gains appear set to persist as Bitcoin defies expectations and garners increasing support from both individuals and institutions. This has led analysts to reconsider their targets and predict even further growth.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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