Over 20,000 Bitcoin millionaires disappeared in the first quarter of 2026

crypthub

2 days ago

Drop in Bitcoin Millionaire Addresses

From January to March 2026 the number of Bitcoin wallets holding at least $1 million fell from 148,084 to 127,494, a loss of 20,590 addresses or 13.9%. The decline coincided with Bitcoin’s price sliding from about $88,700 to $68,200, a 23% drop. The data indicates that price depreciation, rather than mass selling, pushed many wallets below the millionaire threshold.

Segment‑Wise Impact

Mid‑tier wallets ($1‑10 million) saw the biggest loss, slipping by 18,483 addresses to 113,233. Ultra‑rich wallets ($10 million+) also contracted, dropping 2,107 addresses to 14,261. While larger holders were more resilient, they were not immune to the market correction.

Year‑Over‑Year Comparison

In Q1 2025 the sector lost 13,942 millionaire addresses; the Q1 2026 loss of 20,590 is 6,648 larger, a 47.7% deeper decline. This underscores a worsening market environment where volatility reshapes on‑chain wealth distribution.

Institutional Activity & Caveats

Despite the overall drop, major asset managers such as BlackRock increased their Bitcoin positions in Q1 2026, suggesting confidence among large investors. A single entity can control multiple addresses, so wallet counts do not equal unique owners, but the trend still reflects shifting market dynamics.