With the market stabilizing in 2024, the number of newly minted Bitcoin billions has been increasing. Given that the price of BTC actually touched a new all-time high this year, the number of Bitcoin wallet balances holding at least $1 million has increased. Therefore, in this report, we look at how many millions of new BTC have been created and how much the value has grown compared to last year’s figure.
Bitcoin Millionaires Cross 110,000
The data shows that more than 20,000 million new Bitcoins have been created so far in 2024 alone. According to BitInfoCharts, there are now 110,388 billion Bitcoins at the time of this writing. This is in contrast to the 89,322 figures recorded at the beginning of last year.
This means that a total of 21,066 billion new Bitcoins will be created by 2024. This translates to an 18% increase between January and September, showing the growing wealth of BTC investors during this period. It also tracked the price of BTC, which rose almost 50% in one year.
The increase in the number of wallets holding coins of a certain value was not only recorded among the millionaires. Some wallets across different clusters have seen significant increases. This is from BTC wallets holding at least $100 from 19.8 million to 21.6 million.
The next group is addresses that hold at least $1,000, from 8.9 million to 10.37 million. Addresses holding at least $10,000 saw the most significant jump during this period. This figure stood at 2.722 million at the beginning of the year. However, at the time of this writing, there are now more than 3.43 million Bitcoin addresses that hold at least $10,000 worth of BTC.
Then, addresses holding at least $100,000 also increased from 451,129 at the beginning of the year to 621,934 addresses at the time of writing. The last is the big group, which are the wallets that hold at least ten million dollars. This has grown from 7,414 addresses back in January to 10,407 wallets currently.
BTC Sees Positive Movement
The increase in the number of Bitcoin wallets holding a certain amount over the past year is consistent with the performance of the cryptocurrency during this period. Bitcoin started the year at around $44,000 and even after falling from its $73,000 high to $63,000, it has maintained a nearly 50% gain.
There is also some consistency in some of its metrics, especially when it comes to its daily trading volume. Data from CoinMarketCap shows an increase of more than 6% in the last day alone, bringing its daily trading volume to more than 27.75 billion. This suggests a growing interest in cryptocurrency, which can lead to further price increases.
If the price of BTC continues to rise, then it is expected that more Bitcoin addresses will enter the higher price group. If the price reaches a new high this year, then thousands of billions of new Bitcoins can be minted as well.
The featured image was created with Dall.E, a chart from Tradingview.com