Recent analyses indicate that the number of Bitcoin addresses possessing at least $1 million has dropped significantly over the past year, coinciding with Donald Trump’s return to the presidency and a purportedly more crypto-friendly regulatory environment in the United States. According to blockchain data analyzed by Finbold, the number of millionaire Bitcoin addresses fell from 157,563 at the time of Trump’s inauguration in January 2025 to just 132,383 by January 20, 2026. This decline of approximately 25,180 addresses translates to a 16% decrease over the year.
Interestingly, this data reveals that the largest holders of Bitcoin experienced a smaller contraction. Addresses with holdings exceeding $10 million decreased from 18,801 to 16,453, marking a 12.5% drop. This significantly smaller decline suggests that wealthier investors were better equipped to withstand market volatility compared to those on the cusp of millionaire status.
The surge in millionaire addresses prior to Trump’s inauguration, however, raises questions about the anticipated impact of regulatory changes. Following his election victory in November 2024, Bitcoin’s price soared to nearly $69,000, contributing to a wave of new millionaire addresses. By January 2025, Bitcoin’s price surpassed $100,000, further increasing the number of wallets reaching millionaire status.
This optimistic atmosphere was fueled by expectations of deregulation and robust institutional support for cryptocurrencies. Once in office, Trump’s administration quickly enacted measures aimed at easing regulations in the sector. The appointment of pro-industry regulators and the advancement of crypto-related legislation in a Republican-controlled Congress signaled a significant policy shift in favor of the digital asset market.
Alongside policy changes, Trump and his family engaged in various crypto ventures, including mining initiatives and launching branded tokens. These actions garnered mixed reactions, with supporters viewing them as indicating long-term confidence in the cryptocurrency sector, while critics raised ethical concerns over potential conflicts of interest.
In recent developments, the Trump administration has continued to advocate for pro-crypto policies. President Trump signed an executive order urging regulators to eliminate barriers preventing 401(k) plans from allowing investments in alternative assets like cryptocurrencies. If these reforms are enacted, they could enable millions of Americans to invest their retirement funds into Bitcoin and other digital assets through regulated frameworks.
Furthermore, Trump nominated economist Stephen Miran, a known advocate for digital assets, to the Federal Reserve Board of Governors, reinforcing the administration’s pro-crypto stance. Alongside these measures, the Blockchain Association praised the administration’s efforts as a “historic shift” aimed at broadening consumer options, enhancing wealth generation, and minimizing operational hurdles for blockchain enterprises.
The Securities and Exchange Commission (SEC) also contributed to this positive momentum by clarifying that certain liquid staking models would not be classified as securities. SEC Chair Paul Atkins has expressed commitment to fostering crypto innovation in the United States, stating a shift from primarily enforcement-driven regulations to a more proactive approach.
As the regulatory landscape continues to evolve, the impact of these changes on the broader cryptocurrency market, particularly the number of millionaire addresses, remains to be seen.
