Trump victory creates over 11k new Bitcoin millionaires

Donald Trump’s 2024 election victory created more than 11,000 new Bitcoin millionaires.

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

There were 121,061 Bitcoin addresses worth over $1 million last month. This figure has now increased by 11,487 wallets, according to Finbold, indicating significant wealth gains among Bitcoin holders.

Let’s be absolutely clear, the anti-Bitcoin movement died last night. The USA will be the most pro-Bitcoin country in the world. We will have a Bitcoin Strategic Reserve. We will pass a national law to defend Bitcoin Rights. 🇺🇸

— Dennis Porter (@Dennis_Porter_) 6 November 2024

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

Can Bitcoin go higher?

This rise follows a strong month for Bitcoin, up 20% in the last 30 days. With Trump winning and gaining a landslide in the electoral college, Bitcoin gained renewed interest and surpassed previous high prices.

Analysts suggest that Trump’s pro-crypto stance could lead to a supportive regulatory change and potentially improve market conditions. Technical analyst Gert van Lagen predicts that Bitcoin could reach $250,000 by the beginning of next year.