Bitcoin (BTC) Loses 32,647 Millionaire Addresses After Trump's Re-Election

November 6, 2024, was a milestone for Bitcoin (BTC) investors, with Trump’s re-election creating 11,000 new BTC millionaires and fueling months of market gains.

November 6, 2024, marked a milestone for Bitcoin (BTC) investors as the cryptocurrency experienced a surge in value following Donald Trump’s re-election to the presidency.

As Trump returned to office, his actions sparked a chain of events that led to the creation of 11,000 new BTC millionaires. This fueled months of gains in the cryptocurrency market, further cementing Trump's legacy in the economic sphere.

However, the trend has reversed since Trump's return to office. In the month following the inauguration, 22,000 millionaire addresses disappeared from the Bitcoin network.

By March 21, 2025, the total decline in millionaire addresses reached 32,647, marking an 18.51% drop since Trump's return to office. On average, 544 millionaire addresses are vanishing daily.

On January 21, there were 157,563 BTC addresses holding between $1 million and $9.99 million, and 18,801 wallets with over $10 million.

By March 21, those figures decreased to 129,477 and 14,240, respectively. In total, there were 176,364 millionaire addresses on January 21, compared to 143,717 on March 21, a difference of 32,647 addresses.

The decline in millionaire addresses also affected wallets of all sizes. For instance, on January 21, there were 1.145 million wallets holding less than $1,000, but by March 21, that number dropped to 984,000.

The decrease in millionaire addresses may be linked to Trump's economic policies, which have sparked global trade tensions and unsettled risk assets like Bitcoin.

In the months following the election, gold experienced a rally, surpassing the $3,000 level by March 2025. In contrast, Bitcoin struggled to maintain its value, remaining in the $80,000 range.

Moreover, stock indices, such as the S&P 500 and Dow Jones, posted year-to-date losses.

Even bullish news, like the SEC dropping its case against Ripple Labs, failed to trigger lasting gains for Bitcoin.

Besides price drops, heavy profit-taking by large investors might be contributing to the decline in millionaire addresses, signaling a potential shift in the market towards bearish territory.