Donald Trump's victory in the 2024 election has created more than 11,000 new Bitcoin millionaires.
According to data from Finbold, the number of Bitcoin wallets worth $1 million or more increased to 132,842 on November 6, as the price of Bitcoin increased by 7.8% in just 24 hours.
Last month, there were 121,061 Bitcoin addresses worth more than $1 million. This figure has now grown by 11,487 wallets, indicating a significant increase in wealth among Bitcoin holders, according to Finbold.
At the time of writing, Bitcoin (BTC) has passed its all-time high and is currently trading at $75,428.
Can Bitcoin go higher?
The surge follows a strong month for Bitcoin, which has risen 20% over the past 30 days. With Trump's victory and overwhelming lead in the electoral college, Bitcoin see new interests and broke the previous high price.
Analyst shows that Trump's pro-crypto stance may lead to favorable regulatory changes, potentially improving market conditions. Technical analyst Gert van Lagen predicts Bitcoin could reach $250,000 by early next year.