Key Points
- Donald Trump’s 2024 election victory led to an increase in Bitcoin millionaires by over 11,000.
- Bitcoin (BTC) surpassed its all-time high after Trump’s win, trading at $75,428.
Donald Trump’s win in the 2024 elections has played a role in the creation of over 11,000 new Bitcoin millionaires.
Bitcoin’s Rising Popularity
Data from Finbold reveals that the count of Bitcoin wallets valued at $1 million or above escalated to 132,842 on November 6. This surge occurred as Bitcoin prices rose by 7.8% in a span of 24 hours.
The previous month, the number of Bitcoin addresses valued over $1 million was 121,061. This number has now increased by 11,487 wallets, demonstrating significant wealth accumulation among Bitcoin holders.
At the moment, Bitcoin (BTC) has exceeded its previous highest price and is trading at $75,428.
The Future of Bitcoin
This surge follows a robust month for Bitcoin, which has seen a 20% increase over the past 30 days. With Trump’s victory and a commanding lead in the electoral college, Bitcoin experienced a resurgence of interest and surpassed previous high prices.
Analysts suggest that Trump’s positive attitude towards cryptocurrencies could result in a supportive regulatory shift, possibly enhancing market conditions. Gert van Lagen, a technical analyst, predicts that Bitcoin could reach $250,000 by the start of next year.