Bitcoin enthusiasts had high hopes when former U.S. President Donald Trump returned to the White House in 2025, promising to make the United States the global crypto hub. His administration delivered notable pro-crypto policies, including reduced regulatory hurdles and initiatives aimed at integrating digital assets into traditional finance. However, one year into Trump’s second term, the number of Bitcoin millionaire addresses has dropped significantly.
The Decline in Bitcoin Millionaire Addresses
According to blockchain data analyzed by Finbold, addresses holding at least $1 million worth of Bitcoin (BTC) dropped by approximately 16%. On January 2025, at the time of Trump’s inauguration, there were 157,563 Bitcoin millionaire addresses. By January 2026, this number had fallen to 132,383—a decrease of 25,180 millionaire addresses.
Interestingly, wealthier Bitcoin investors seemed more resilient during this period. Addresses holding more than $10 million saw a smaller decline of 12.5%, reducing from 18,801 to 16,453. The data suggests that while smaller investors were more affected by market volatility, top-tier investors managed to weather the storm better.
Bitcoin’s Market Performance Under Trump
Bitcoin’s price trajectory following Trump’s election was a rollercoaster. On November 6, 2024, the day after Trump’s victory, Bitcoin traded near $69,000. By January 2025, it surged past $100,000, driven by optimism over crypto-friendly policies and deregulation.
Trump’s administration moved quickly to accommodate the crypto sector. Key highlights included appointing crypto-friendly regulators, passing significant legislation, and introducing new ventures like crypto mining initiatives and even a TRUMP meme coin, which garnered both excitement and criticism over potential conflicts of interest.
Evaluating Bitcoin Wealth Metrics
The decline in Bitcoin millionaire addresses underscores a crucial point: blockchain data reflects addresses, not individuals. A single entity like an institutional investor or crypto exchange can control multiple wallets, and a single wallet may pool funds from various users. While the number of millionaire addresses does not equate directly to the number of individual Bitcoin millionaires, it remains a reliable proxy for monitoring shifts in capital distribution and investor behavior on the network.
Looking Ahead
While the crypto-friendly environment under Trump spurred optimism, it also brought challenges. The significant decline in Bitcoin millionaire addresses within the first year of his tenure highlights ongoing market volatility and the evolving economic landscape for cryptocurrencies.
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Will the number of Bitcoin millionaires rebound, or is this a sign of deeper systemic adjustments? Only time and further policy frameworks will tell.
