Trump’s win sparks surge of over 11,000 new Bitcoin millionaires
This rise is attributed to Trump’s pro-crypto stance, which analysts believe could lead to a favourable regulatory environment, with some experts predicting Bitcoin’s value could reach $250,000 by early 2025.
Donald Trump’s 2024 election victory has led to a significant surge in Bitcoin wealth, creating over 11,000 new Bitcoin millionaires. On 6 November, the number of Bitcoin wallets holding $1 million or more reached 132,842, up from 121,061 just a month earlier. The increase follows a remarkable 7.8% rise in Bitcoin’s value within 24 hours.
The price of Bitcoin has recently broken its all-time high, now trading at $75,428, following a strong 20% gain over the past month. Trump’s commanding lead in the electoral race, coupled with renewed interest in Bitcoin, has contributed to this price surge. Analysts suggest that Trump’s pro-crypto stance may bring about a favourable regulatory shift, further boosting market conditions.
Some experts are even predicting Bitcoin’s price could soar to $250,000 by early 2025, as the market responds positively to these developments.