Trezor Sees Record Sales Week as Bitcoin Approaches $100K

Prague, Czech Republic, November 29th, 2024, Chainwire

The hardware wallet company has reported a 600% increase in sales following the November US elections and recently recorded its highest-ever daily sales.

Trezor, the first Bitcoin hardware wallet company, has reported a historic milestone, achieving its most successful sales week ever. This happened as the Bitcoin price surged. The start of this bull run, increased interest in cryptocurrency, and the move from centralized exchanges (CEXs) to self-custody have all driven Trezor’s record-breaking sales

This historic sales week followed the November 5 US presidential elections, with Trezor recording an extraordinary 600% increase in weekly sales compared to the previous six-month average. These sales peaked on Friday, November 22, when Trezor achieved its best single sales day. Sales were 11 times higher than the last six-month daily average, surpassing the previous record on May 17, 2023, when Ledger announced its “Ledger Recovery” service.

Commenting on this milestone, Danny Sanders, Trezor’s Chief Commercial Officer, said,

“This milestone proves the growing interest in cryptocurrencies. A key moment for the crypto industry was when Bitcoin became one of the major topics during the US presidential elections. This helped spark the increased adoption we are witnessing now. Moreover, these remarkable results were fueled by a long-term increase in awareness among crypto users about the importance of self-custody. The mantra ‘not your keys, not your coins’ remains highly relevant as the market continues to recognize the risks of leaving assets on centralized exchanges — a hard lesson learned from the collapse of numerous exchanges in the past. These underscore the success of our expanded product range with the new Safe and Keep Series and Expert onboarding, making it easier for new people to use the hardware wallet.”

The Shift Towards Self-Custody

The shift towards self-custody is evident as the Bitcoin exchange reserves have dropped to their lowest level in six years. In 2024, investors withdrew approximately 427,000 BTC, valued at $40 billion, from centralized exchanges (source Cryptoquant).

Centralized exchange failures, regulatory uncertainty, and increased awareness among crypto users have led to this move to self-custody. Self-custody solution providers like Trezor remain committed to ensuring users maintain control of their funds.

New Product Line Drives Record Sales

Trezor’s new product line contributed significantly to this milestone. The hardware wallets Trezor Safe 3 and Trezor Safe 5 have gained much attention from users due to their user-friendly interface, sleek modern design, and robust security, thanks to Trezor’s open-source philosophy.

The Trezor Keep Metal complements these products, providing a lasting solution for secure wallet backups. Meanwhile, the Trezor Expert, a personalized online 1-on-1 onboarding service, fits perfectly into the product line. These products make self-custody much easier and enable both experienced crypto users and newcomers to take greater control of their financial future.

Trezor’s commitment to empowering individuals through security, transparency, and innovation resonates with a global audience. This has led to record-breaking growth and positions the company for sustained success as the bull market advances.

About Trezor

Trezor is the first Bitcoin hardware wallet company and was founded in 2013. It pioneered the development of the self-custody of crypto assets, empowering individuals with an open-source device that enables anyone to easily and securely hold cryptocurrencies.

Since then, Trezor has expanded its ecosystem, offering hardware and software products that protect users, both crypto experts and novices. In 2023, the hardware wallet company launched the Trezor Academy initiative, which educates grassroots communities across Africa on how to interact safely within the Bitcoin ecosystem. Trezor is also part of SatoshiLabs, a technology holding company with stakes in crypto and Bitcoin companies.