There are 15,000 Bitcoin holders who have become millionaires since the beginning of Trump’s presidency, according to a report published by Finbold in July. This means an increase of 9% in six months, bringing the total number of millionaire Bitcoin holders to slightly more than 192,000. The new millionaires are not the only ones who have benefited, as large investors with more than US$10 million in Bitcoin have seen their holdings increase by 16% in the same period.
According to the report, this rise has been fueled by Trump’s support for the sector, which has given the market a positive outlook. Moreover, the first major regulation of the sector was passed in the US House of Representatives in mid‑July.
Critics of cyrpto argue that these moves by Trump are pushing toward a privatization of currency, which could mean that in the future, money will no longer be administered by the state but by private entities, providing Big Tech even more power than it already has.
Apart from this latest increase in value, cryptocurrency has seen huge growth since its invention. It all began with Bitcoin in 2009, created by an enigmatic figure named Satoshi Nakamoto. This digital currency was developed as an alternative to traditional banking systems, aiming to offer a decentralized and transparent means of financial exchange. However, cryptocurrency has gained a controversial reputation over time.
Intrigued? In this gallery, we look at the evolution of cryptocurrency and explain how it’s more than just a get‑rich‑quick scheme. Click on to begin!