Donald Trump’s victory in the 2024 U.S. presidential election has resulted in a notable surge in Bitcoin wealth, creating over 11,000 new Bitcoin millionaires.
According to data from Finbold, the number of Bitcoin wallets valued at $1 million or more increased to 132,842 as of November 6, 2024. This marks a significant rise from 121,061 wallets the previous month, representing an addition of 11,487 Bitcoin holders whose portfolios have surpassed the $1 million mark. The surge follows a 7.8% increase in Bitcoin’s price over just 24 hours.
At the time of writing, Bitcoin had surpassed its all-time high, trading at $75,428. This spike is part of a broader rally for Bitcoin, which has gained 20% in the past 30 days. Analysts attribute the renewed interest in Bitcoin to Trump’s victory, with many speculating that his pro-crypto stance could foster a regulatory environment conducive to further growth in digital assets.
Technical analyst Gert van Lagen has predicted that Bitcoin could soar to $250,000 by early 2025, fueled by both Trump’s policies and market dynamics. As Bitcoin continues to climb, the number of millionaires in the crypto space is expected to rise, reflecting the broader bullish sentiment in the market.
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