Bitcoin’s 2024 surge has created 20,000 new millionaires and pushed wallet holders to a record high. Strong market performance and increased investor participation have propelled Bitcoin wealth to unprecedented levels.
One notable achievement is the creation of approximately 20,000 new Bitcoin millionaires, according to data from BitInfoCharts. This indicates that 2024 will be a notable year for Bitcoin with significant price movements and milestones. Moreover, this reflects the surge in BTC that accelerated when rumors of Jeff Bezos’ $8 billion Bitcoin investment emerged, as reported by CNF.
This surge has since increased the total number of bitcoin wallets holding at least $1 million to around 110,388, up from 89,322 at the start of the year. The 18% increase in wealthy bitcoin holders reflects the cryptocurrency’s strong performance throughout the year.
Bitcoin’s price started at $42,300 in early 2024 and has since risen to $63,591, marking a growth of over 50%. The price increased by 7.8% in September alone, peaking at $73,000 in mid-March. The sharp rise in Bitcoin’s value has undoubtedly contributed to the rise in millionaires, and strong market demand has further boosted the price just before important announcements such as the US Federal Reserve’s interest rate cut.
At the time of writing, Bitcoin (BTC) is trading at $64,250, up 1.75% in the past day and 6.18% in the past week. See the BTC price chart below.
Broader market impact
Interestingly, Bitcoin’s impressive growth has had far-reaching effects beyond just creating new millionaires: This year, the number of wallets holding more than $100 has increased from 19.8 million to 21.6 million, while the number of wallets holding more than $1,000 has jumped from 8.9 million to 10.37 million.
Additionally, higher value accounts, such as those with a minimum balance of $10,000, increased from 2.72 million to 3.43 million, while wallets with balances of $10 million or more jumped from 7,414 to 10,407, indicating broad market participation and interest.
These trends highlight Bitcoin’s growing appeal and the growing number of investors looking to profit from its rise. As more wallets accumulate larger amounts of Bitcoin, the overall market will continue to expand, strengthening the cryptocurrency’s place in the global financial landscape.
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