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The number of Bitcoin addresses holding at least $1 million has fallen by 25,000 in the past year, dropping 16% despite the Trump administration’s aggressive push to deregulate the cryptocurrency industry.
One year into President Donald Trump’s return to the White House, blockchain data shows that Bitcoin millionaires have declined by roughly 25,000 addresses, challenging assumptions that political optimism alone can sustain on-chain wealth.
According to blockchain analysis reviewed by Finbold, the number of Bitcoin addresses holding at least $1 million fell from 157,563 at Trump’s January 2025 inauguration to 132,383 by January 20, 2026.
That marks a 16% drop, despite sweeping regulatory changes designed to boost digital asset adoption.
The contraction highlights a harsh truth for Bitcoin millionaires: favorable policy does not guarantee short-term price stability.
While Trump’s administration moved swiftly to loosen regulatory constraints, Bitcoin prices failed to sustain the euphoric momentum that previously pushed thousands of wallets over the millionaire threshold.
Much of the decline reflects sensitivity among investors hovering near the $1 million mark. As Bitcoin retraced from post-election highs, many addresses slipped below millionaire status, underscoring how Bitcoin millionaires remain exposed to sharp market swings.
Not all Bitcoin millionaires were hit equally. Addresses holding more than $10 million worth of BTC declined from 18,801 to 16,453, a drop of 12.5%, notably smaller than the broader millionaire contraction.
This resilience suggests that ultra-high-net-worth holders are better positioned to weather volatility.
“Larger holders typically have lower cost bases and longer investment horizons,” analysts note, making them less reactive to short-term price corrections that wipe out marginal Bitcoin millionaires.
Crucially, the explosive growth in Bitcoin millionaire occurred before Trump formally assumed office.
Following his November 2024 election victory, Bitcoin traded near $69,000, with approximately 120,851 addresses already holding at least $1 million.
As expectations surged around deregulation and institutional adoption, Bitcoin rallied above $100,000 by January 2025, rapidly inflating the ranks of Bitcoin millionaires.
The surge was driven more by speculative optimism than by enacted policy — a key reason the gains proved fragile.
Once in office, President Trump aggressively advanced a pro-crypto agenda. His administration appointed industry-friendly regulators, supported crypto legislation in a Republican-controlled Congress, and eased restrictions separating banks from digital asset firms.
Trump also signed an executive order urging regulators to remove barriers preventing 401(k) retirement plans from allocating funds to cryptocurrencies, potentially opening Bitcoin exposure to millions of Americans.
“This is a historic shift that expands consumer choice and wealth-building opportunities,” said Kristin Smith, CEO of the Blockchain Association, praising the administration’s stance.
Regulators echoed that tone. The Securities and Exchange Commission clarified that certain liquid staking models are not securities, while SEC Chair Paul Atkins pledged to move away from enforcement-first policymaking.
“We want innovation to stay in the United States,” Atkins said, signaling a regulatory environment designed to support long-term growth — a development closely watched by current and aspiring Bitcoin millionaires.
Ultimately, the decline in Bitcoin millionaire highlights a core crypto truth: markets move faster than policy.
While Trump’s pro-crypto push may lay groundwork for future adoption, on-chain wealth remains tied to price cycles, liquidity conditions, and investor psychology.
For now, Bitcoin millionaires are facing a sobering reset — one that separates speculative gains from structural growth in the evolving digital asset economy.
