Significant Drop in Bitcoin Millionaires as Addresses Decline in 2025

Bitcoin saw a reduction of 7,485 millionaire addresses in 2025, despite an increase in wallets holding over $10 million. This trend indicates a growing concentration of wealth even amidst significant ETF inflows and an overall positive start to the year.

Key Takeaways

The number of Bitcoin addresses worth at least $1 million decreased from 155,569 to 148,084 in 2025.
Wallets containing $10 million or more increased during the same time frame, showing wealth is becoming more concentrated.
On average, 21 millionaire Bitcoin addresses disappeared each day throughout the year.
Bitcoin's price fluctuations have affected millionaire address counts, with a significant drop occurring in the fourth quarter after earlier gains.
In 2024, the number of new millionaire addresses grew significantly, contrasting sharply with 2025’s decline.

Bitcoin millionaire addresses drop as mega-whales grow in 2025.

The Decline of Bitcoin Millionaires

According to Finbold’s 2025 Cryptocurrency Market Report, the number of Bitcoin millionaire addresses fell by 7,485, bringing the total to 148,084 by the end of the year. This sharp decline happened even as Bitcoin exchange-traded funds (ETFs) drew in billions of dollars.

Throughout the same period, the number of addresses holding $10 million or more increased – rising from 15,319 to 16,368. This suggests a troubling trend of wealth concentration, as mid-tier millionaire wallets seem to be diminishing, as reported by Finbold.

The analysis highlighted that, on average, approximately 21 Bitcoin millionaire addresses were lost every day throughout 2025. It's important to note that one person can have multiple Bitcoin addresses, so the decline in wallet count does not directly correlate with the number of individuals holding Bitcoin. However, this trend does provide insights into the shifting distribution of wealth within the blockchain.

In the third quarter of 2025, Bitcoin experienced a net increase of 20,688 millionaire addresses from the beginning of the year, driven by strong price momentum. Unfortunately, the fourth quarter saw a reversal of this trend, erasing earlier gains and leading to an overall negative year for millionaire address counts.

This contraction happened despite Bitcoin’s integration into many institutional investment portfolios. Although Bitcoin started 2025 trading near its highs, the year ended on a lower note, reflecting a price decline despite ongoing demand for Bitcoin through regulated investment vehicles.

In contrast, previous data from 2024 showed an addition of 56,325 new millionaire addresses—a daily average of 154. The stark difference in 2025 highlights significant shifts in the on-chain dynamics of Bitcoin wealth, with larger holders expanding their influence as smaller millionaire wallets gradually exited the market.