Bitcoin's Millionaire Club Sees Mass Eviction: 20,000 Wallets Get Priced Out of the $1M Club in Q1

Q1 2026 wasn't exactly a glow-up for Bitcoin's elite. The number of million-dollar wallets took a scenic route down, with a sharp price pullback doing the dirty work of demoting tens of thousands of addresses from the exclusive millionaire club.

Between January 1 and March 31, the number of Bitcoin addresses holding at least $1 million fell from 148,084 to 127,494—a loss of 20,590 addresses, or 13.90% over the quarter. That's a lot of people waking up to discover their net worth just had a wardrobe malfunction.

The purge coincided with Bitcoin's price dropping from around $88,700 to $68,200 by quarter's end, a 23% decline. The data suggests most of these wallets didn't actually sell; they just got rekt by math. Turns out the bear market was hiding in a spreadsheet all along.

The $1 million to $10 million cohort got hit hardest, shedding 18,483 addresses (131,716 to 113,233). Even the $10 million-plus club wasn't immune, losing 2,107 addresses, dropping from 16,368 to 14,261. Apparently, having enough Bitcoin to buy a small island doesn't make you immune to a 23% dip. Almost makes you nostalgic for the days when "being a millionaire" meant something in fiat.

The quarterly wipeout looks even grimmer year-over-year. Q1 2026 saw 47.7% more millionaire addresses disappear compared to Q1 2025, when Bitcoin lost 13,942 millionaire addresses. Spoiler: getting priced out of the club is getting more popular.

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