Trump victory creates over 11k new Bitcoin millionaires

November 6, 2024 at 7:46 pm

Edited by Jayson Derrick

News

Trump victory creates over 11k new Bitcoin millionaires

Donald Trump’s 2024 election victory has created over 11,000 new Bitcoin millionaires.

According to data from Finbold, the number of Bitcoin wallets valued at $1 million or more rose to 132,842 on November 6, as Bitcoin prices increased by 7.8% in just 24 hours.

Last month, there were 121,061 Bitcoin addresses worth over $1 million. This figure has now grown by 11,487 wallets, indicating significant wealth gains among Bitcoin holders, per Finbold.

Let’s be absolutely clear, the anti-Bitcoin movement died last night. The USA will be the most pro-Bitcoin nation in the world. We will have a Bitcoin Strategic Reserve. We will enshrine a national law to defend Bitcoin Rights. 🇺🇸
— Dennis Porter (@Dennis_Porter_) November 6, 2024

At the time of writing, Bitcoin (BTC) has passed its all-time high and is currently trading at $75, 428.

Can Bitcoin go higher?

This spike follows a strong month for Bitcoin, which has risen 20% over the past 30 days. With Trump’s win and an overwhelming lead in the electoral college, Bitcoin saw renewed interest and broke past previous high prices.

Analysts suggest that Trump’s pro-crypto stance might lead to a supportive regulatory shift, potentially boosting market conditions. Technical analyst Gert van Lagen predicts Bitcoin could reach $250,000 by early next year.