Bitcoin (BTC) lost more than 20,000 millionaire addresses in the first quarter of 2026 as a 23% price decline pushed tens of thousands of wallets below the $1 million threshold.
BTC Millionaire Wallets Decline
According to Finbold data, the number of Bitcoin addresses holding at least $1 million dropped from 148,084 to 127,494 between Jan. 1 and Mar. 31. That amounts to 20,590 fewer wallets, a 13.90% decrease over the quarter.
The decline tracked Bitcoin's slide from roughly $88,700 at the start of the year to $68,200 by late March.
Addresses in the $1 million to $10 million range bore the brunt, falling from 131,716 to 113,233 — a loss of 18,483 wallets.
Holdings above $10 million also shrank, dropping from 16,368 to 14,261.
Finbold noted the contraction does not necessarily signal capital flight. Instead, falling prices reclassified wallets below wealth thresholds without requiring holders to sell.
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Institutional Accumulation and Year-Over-Year Context
The Q1 loss exceeded last year's comparable period by a wide margin. In Q1 2025, Bitcoin shed 13,942 millionaire addresses — making the 2026 contraction 47.7% deeper year over year.
Major asset managers including BlackRock increased their Bitcoin holdings during the quarter even as prices fell. The divergence suggests institutional players continued accumulating while mid-tier holders absorbed the worst of the price-driven decline.
A single individual can control multiple addresses, so wallet counts do not map directly to unique investors. Still, on-chain distribution data remains a widely tracked indicator of market health.
BTC Price Struggles Near $70K
Bitcoin has struggled to find sustained momentum since falling below $75,000 in early February. The token traded as low as $62,000 and has repeatedly failed to hold above $73,000, spending most of the past two months range-bound between those levels. As of Apr. 10, BTC was trading near $72,200 — still roughly 43% below its October 2025 all-time high above $126,000.
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