Twenty-two thousand Bitcoin millionaires lost since Trump's return to the White House

Donald Trump's re-election initially sparked optimism in the cryptocurrency market, creating 11,000 new Bitcoin (BTC) millionaires between October 7 and November 6, 2024. But that euphoria didn't last.

- Andreja Stojanovic

Though the crypto bull market continued into early 2025, Finbold research found that the Republican's return to the White House had the opposite effect, leading to stagnation and decline.

Between January 21 – the day after the inauguration – and February 18, the number of BTC addresses holding more than USD one million worth of the coin dropped by 22,279. During the first weeks of President Trump's second term, an average of 795 Bitcoin millionaire addresses were wiped daily as per data retrieved from BitInfoCharts using the Wayback Machine web archive tool.

Notably, the starkest decline was in the number of addresses holding over USD one million in BTC, which fell from 157,563 to 138,693. High-value wallets with more than USD 10 million also dropped significantly, from 18,801 to 15,392. However, this downward trend extended across all wallet sizes.

Bitcoin losses under Trump extend beyond millionaire wallets