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- Bitcoin saw 154 millionaires created daily, with 56,325 in the past year.
- This growth comes amid the bullish rally Bitcoin registered in 2024.
Bitcoin (BTC), the world’s leading cryptocurrency, saw a historic rally in 2024, with prices reaching an all-time high. In December, BTC surged past the $100,000 psychological level, moving from a six-month high of $76,000.
As Bitcoin’s value skyrocketed in 2024, so did the investments of traders who invested in the stellar cryptocurrency.
154 New Millionaires Emerged Daily in 2024
According to Finbold Research, a daily average of 154 addresses holding over $1 million worth of Bitcoin millionaires were created daily between December 31, 2023, and December 31, 2024. During this period, the 154 addresses saw a total increase of approximately 56,325 over the past year.
Notably, their numbers moved to 153,000 on the final day of 2024 from just under 97,000 on the last day of 2023, representing a 58.21% increase. Specifically, 48,738 addresses holding between $1 million and $10 million were registered, alongside 7,587 addresses holding over $10 million.
Furthermore, the total surge in the addresses holding Bitcoin was quite low in proportion, rising by only 12.79%. Nonetheless, the increase in absolute terms is substantial, totaling about 10 million additional addresses, or 27,000 each day over the year.
Meanwhile, Bitcoin addresses between $100 and $999.99 saw the biggest spike. The addresses added about 3.3 million new ones for an average daily increase of over 9,000. Analyzing the total by address value shows the emergence of 2 million new ones holding between $1 and $99.99, 5,652 per day in 2024.
Bitcoin Millionaires Still Below Record Lows
Surprisingly, despite last year’s bull market, the overall number of Bitcoin millionaire addresses added fell short of 2023 levels. Finbold reported on December 25, 2023, that approximately 70,000 such addresses were added that year, a 22.85% increase over the previous year.
The seemingly surprising discrepancy could result from the relatively low initial prices and the investors’ excitement. This is based on the fact that the Bitcoin rally began in late 2023, featuring a total 153.21% price increase within 52 weeks. Meanwhile, the price increased by a total of 121.11% in 2024.
It is important to note that the number of addresses holding over $1 million in BTC does not equate to the number of individual Bitcoin millionaires. This is so because one person can control multiple addresses, and several people can co-own a single address.
The abundance of unique methods of acquiring exposure to Bitcoin may have resulted in relatively few new addresses. For instance, more institutions have adopted Bitcoin via the spot the Exchange-Traded Funds (ETFs) debuted in January 2024.
Furthermore, some other investors have gained exposure to Bitcoin by purchasing MicroStrategy stock. MicroStrategy grew its business model as a leveraged Bitcoin stock in the past year. The MSTR stock maintained a very strong correlation with BTC in 2024 as the company made over 250,000 Bitcoin purchases to shore up its reserve.
In all, the strength of the altcoin and memecoin markets in 2024 may have contributed to slowing the growth of Bitcoin holders.
