Trump’s first 100 days in office erase over 20,000 Bitcoin millionaires

According to new research from Finbold, President Donald Trump’s first 100 days in office have seen a sharp drop in fortunes for Bitcoin (BTC) holders. Despite a surge in optimism after his historic re-election in November 2024.

While the billionaire was welcomed for his pro-crypto rhetoric and, thus, Bitcoin soared to new all-time highs (ATH) above $109,000 in his anticipated return to the White House, his actual presidency has so far been more bearish than bullish.

As President Donald Trump’s first 100 days in office elapsed, Finbold research uncovered that between January 21 (Trump’s first full day in office) and April 30, the actual policy landscape under his administration coincided with a 13.22% drop in Bitcoin millionaire addresses.

There were 157,563 addresses with between $1 million and $9.99 million worth of Bitcoin on January 21 and 12.61% fewer – 137,694 – on April 30, per data retrieved from BitInfoCharts via the Wayback Machine. In total, 19,869 such addresses were lost.

In relative terms, the situation is even worse for those addresses holding $10 million worth of BTC or more, as their number decreased by 18.30%, having diminished by 3,441 from 18,801 to 15,360.

The average loss is 233 BTC millionaire addresses a day in the first 100 days.

Trump wipes out nearly 3 million BTC addresses in 100 days

It wasn’t just the wealthy feeling this shift. While the total number of Bitcoin addresses holding more than $1 worth of the cryptocurrency didn’t suffer as big a fall as the millionaires, it nonetheless fell during President Trump’s first 100 days in office.

On January 1, there were 91 million such holders and, on April 30, there were 88 million. This means that the total figure dropped 3.28%: it decreased by nearly 3 million.

What makes the difference between the months with President-Elect Trump and President Trump even more staggering is that the losses would have been significantly worse had Bitcoin not entered a surprise rally in the second half of April which took it from Liberation Day lows near $75,000 to a relatively stable level just under $95,000 in just a few weeks.

For comparison, the world’s premier cryptocurrency stood at $102,204 on January 21.

Finally, it is worth remembering that the actual difference in the number of millionaires is uncertain, as one person can own multiple wallets.

Featured image via Shutterstock

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