Bitcoin, the original cryptocurrency, has experienced a surge in the number of millionaire holders in 2024, even as its price hovers below the previous all-time high. Data from BitInfoCharts reveals a total of 110,655 Bitcoin addresses holding at least $1 million worth of BTC, with 10,434 of these addresses containing holdings exceeding $10 million as of September 23. This marks a 25% increase in millionaire holders compared to the beginning of the year when the total stood at 96,736 addresses. Notably, the exact number of individuals holding over $1 million in Bitcoin is difficult to ascertain due to the nature of blockchain addresses. Bitcoin’s price movement in 2024 has shown a 49% increase year-to-date, with the digital asset maintaining bullish momentum above $60,000.
The growing number of millionaire investors in Bitcoin underscores the cryptocurrency’s resilience, following a period of all-time highs earlier in the year. Market analysts anticipate a potential rally that could push Bitcoin’s price above $70,000, further increasing the number of millionaire holders. This positive outlook aligns with historical trends, suggesting significant price surges during Bitcoin’s halving years, with 2024 following a similar pattern. However, not all market players share this optimism, as economist Peter Schiff argues that Bitcoin lacks long-term potential for investors and suggests capitalizing on short-term gains. Despite differing opinions, Bitcoin continues to trade at $63,110, with potential for further price appreciation in the near future. The evolving valuation dynamics in 2024 will dictate the impact on high-value Bitcoin holders as the year progresses.