Trump’s White House return wipes out nearly 20% of Bitcoin millionaires 
Cryptocurrency Mar 21, 2025 Share
November 6, 2024, was a glorious day for Bitcoin (BTC) investors. Donald Trump’s re-election created as many as 11,000 new BTC millionaires and created tailwinds that rippled through the stock and cryptocurrency markets for months.
However, Donald Trump’s return to the White House has thus far had the opposite effect: Within a single month, 22,000 Bitcoin millionaire addresses were lost.
Finbold research found that the situation had only grown worse by March 21, with the number of BTC millionaires falling by 32,647 since January 21.
Notably, there are now 18.51% fewer Bitcoin millionaire addresses than when Trump was inaugurated, and the losses thus far wiped out an average of 544 millionaires daily.
Bitcoin millionaire addresses from 176,364 to 143,717 in two months
Examining the details reveals that on January 21 – the first Monday after the inauguration – 157,563 Bitcoin addresses owned between $1 million and $9.99 million worth of BTC. Simultaneously, 18,801 addresses held at least $10 million in the world’s premier cryptocurrency.
On March 21, the number of wallets with more than 1 million but less than 10 million fell to 129,477, and of those with more than 10 million, BTC declined to 14,240 for a total change from 176,364 to 143,717.
Furthermore, the decline happened across the board, with the number in all addresses holding more than $1 worth of BTC falling substantially during the two months.
It is worth noting that the number of millionaire cryptocurrency addresses is not necessarily equal to the number of digital asset millionaires, as a single person might own multiple addresses, and multiple people can pool their assets into a single wallet.
How the Trump presidency erased 32,000 BTC millionaires
So far, the uncertainty generated by President Trump’s economic policy, exemplified most strongly by his tariff campaign, which has initiated an escalating global trade war, appears to be the main culprit for the losses.
Additionally, the situation is exactly the opposite of how it was in the aftermath of the elections when risk assets were rising, and gold suffered one of its rare recent periods of decline.
By March 2025, gold had recorded new highs above $3,000, while Bitcoin struggled to remain above the $80,000 to $82,000 price point – and even fell below it on several occasions. Benchmark stock market indices like the S&P 500 and the Dow Jones Industrial Average (DJIA) are also down in the year-to-date (YTD) chart.
The prevailing headwinds have become so strong that even the recent and long-awaited news that the SEC has given up on its long-standing legal battle against Ripple Labs over the XRP token led to only an ephemeral rally.
Lastly, in addition to Bitcoin’s price drop, the loss in the number of BTC millionaires could be attributed to the extensive selling activity and profit-taking behavior among major investors, cited as one of the signs that the world’s premier cryptocurrency may have entered the bear market in an analysis reported on by Finbold on March 20.