Bitcoin (BTC) Bull Market in 2024 Creates 154 New Bitcoin Millionaires Every Day

During the 2024 cryptocurrency bull market, the number of Bitcoin (BTC) addresses holding more than $1 million worth of BTC rose 58.21% from 96

The number of Bitcoin (BTC) addresses holding more than $1 million rose 58.21% in 2024, from 96,756 to 153,081, as Finbold analysis shows.

This means that on average, 154 new Bitcoin millionaires emerged every 24 hours across the 366 days of the 2024 leap year.

In total, 9.9 million new addresses holding more than $1 of the cryptocurrency were added in the 52 weeks.

The biggest increase came among addresses holding between $100 and $999.99 as it rocketed by 3.3 million – a daily average increase of 9,086.82 – from 19.8 million to 23.1 million.

Proportionally, no group grew as much as those with more than $10 million worth of BTC, as their numbers surged 102.33% from 7,414 to 15,001.

Was 2023 better for BTC investors than 2024?

Interestingly, the increase in the number of Bitcoin millionaires was smaller in 2024 than in 2023, as it rose by a total of 56,325 in 2024 – some 13,000 less than the 69,196 in the year before.

This can be attributed to a mix of factors, including the strength of the altcoin and meme coin markets and the higher availability of alternative vehicles for gaining exposure to digital assets, such as the spot Bitcoin and Ethereum (ETH) exchange-traded funds (ETFs).

Furthermore, as Andreja Stojanovic, a co-author of the analysis, pointed out, the difference could have also arisen from BTC’s relative performance and the significantly lower price in 2023:

“Considering the fact that the Bitcoin rally started already in late 2023 and that it featured a total 153.21% price increase within the 52 weeks, while in 2024, it rose a total of 121.11%, the seemingly surprising discrepancy might simply be demonstrative of the initial relatively low prices and immediate investor enthusiasm.”

Finally, it is important to note that the number of addresses holding over $1 million does not directly equate to the number of individual Bitcoin millionaires, as one person can control multiple addresses, and several people can co-own a single address.