2024

Value

Bitcoin

Higher

<p>The year 2024 has been an eventful year for Bitcoin. The BTC market has witnessed several significant ups and downs. In mid-March, the market even created an enviable peak of $73,000. A recent report shows that the impressive journey of Bitcoin has generated several new <a href="https://coinpedia.org/news/crypto-wealth-report-2024-bitcoin-created-85400-millionaires-in-a-year/" target="_blank" rel="noreferrer noopener">Bitcoin millionaires</a> this year. Here is what you should know!&nbsp;</p>   
<h2 class="wp-block-heading" id="h-a-surge-in-bitcoin-millionaires">A Surge in Bitcoin Millionaires</h2>   
<p>According to data from <a href="https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html" target="_blank" rel="noreferrer noopener">BitInfoCharts</a>, around 20,000 new Bitcoin millionaires have appeared in 2024, bringing the total number of Bitcoin wallets with at least $1 million to nearly 110,388. At the beginning of the year, this number was just 89,322, which means there has been a significant increase of 21,066 wallets. In percentage terms, this is an 18% growth in Bitcoin millionaires so far.</p>   
<h2 class="wp-block-heading" id="h-why-is-bitcoin-exploding">Why is Bitcoin Exploding? </h2>   
<p>At the start of the year, Bitcoin was priced at $42,300, but it currently stands at $63,591—<a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">an increase of over 50%.</a> Notably, the price was around $58,967 at the beginning of September, reflecting a rise of at least 7.8% just this month. On September 7, just days before the <a href="https://coinpedia.org/news/bitcoin-hits-61k-as-fed-slashes-interest-rates-by-50-bps-after-four-years/" target="_blank" rel="noreferrer noopener">U.S. Federal Bank’s interest rate cut</a> announcement, strong buying pressure drove the price up by about 17.95%.</p>   
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<p>Undoubtedly, this impressive price growth in the market has resulted in the creation of new BTC millionaires.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-broader-market-benefits">Broader Market Benefits</h2>   
<p>The impressive price growth has not only helped new BTC millionaires. The data also shows that the number of wallets holding at least $100 has increased from 19.8 million to 21.6 million this year. Similarly, wallets with a minimum balance of $1,000 have grown from 8.9 million to 10.37 million, while those with at least $10,000 have risen from 2.72 million to 3.43 million.</p>   [post_titles_links postid="354773"]   
<p>The trend extends to higher-value wallets as well. The number of wallets with at least $10 million has jumped from 7,414 to 10,407.</p>   
<p>In conclusion, the correlation between the rise in the number of new BTC wallets and the growth in the <a href="https://coinpedia.org/price-analysis/popular-analyst-lays-down-the-bitcoin-btc-price-path-to-78000-this-is-when-it-may-begin/" target="_blank" rel="noreferrer noopener">Bitcoin market</a> is an interesting trend to watch.&nbsp;</p>   
<p><strong>The millionaire-making potential of Bitcoin continues to amaze. Does this excite you?</strong></p>

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