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

The hardware wallet company reported a 600% increase in sales following the U.S. elections and recorded its highest single-day sales in history.

Trezor, the original bitcoin hardware wallet company, has reported the most successful sales week in its history. This milestone coincides with Bitcoin's sharp price surge, nearing the $100,000 mark. The beginning of a new bull market, increased interest in cryptocurrency, and a growing shift away from centralized exchanges toward self-custody have significantly driven Trezor’s record-breaking sales.

The historic sales week followed the U.S. presidential election, with Trezor experiencing an extraordinary 600% increase in weekly sales compared to the previous six-month average. This surge peaked on Friday, November 22, when Trezor achieved its best single sales day ever. Sales were 11 times higher than the typical daily average over the last six months, and it eclipsed its previous high on May 17, 2023, when Ledger announced its "Ledger Recovery" service. 

Danny Sanders, Trezor's Chief Commercial Officer, commented on the milestone:

“These unprecedented results highlight the growing interest in cryptocurrencies. A pivotal moment was Bitcoin becoming one of the topics during the U.S. presidential elections, which served as a catalyst for further adoption. 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. All of this underpins the success of our expanded product range with the new Safe and Keep Series and Expert onboarding making it easier for new people to onboard to hardware wallet ”.

The Shift Towards Self-Custody

The shift towards self-custody is evident as Bitcoin reserves on exchanges have declined to their lowest levels in six years. In 2024 alone, approximately 427,000 BTC, valued at $40 billion, were withdrawn from centralized exchanges (source Cryptoquant). High-profile exchange failures, regulatory uncertainty, and increased user education have driven this movement. Self-custody solutions like Trezor ensure users maintain full control of their funds, mitigating the risks associated with third-party custodians.

New Product Line Drives Record Sales

Trezor’s new product families played a key role in achieving these outstanding results. The hardware wallets Trezor Safe 3 and Trezor Safe 5 have attracted significant attention for their user-friendly features, sleek modern design, and robust security backed by Trezor's open-source philosophy. Complementing these wallets, the Trezor Keep Metal — a durable solution for securely safeguarding wallet backups — and Trezor Expert, a personalized 1-to-1 online onboarding service, have seamlessly integrated into Trezor's portfolio. Together, these innovations have made self-custody more accessible to both seasoned crypto enthusiasts and newcomers, empowering more users to take control of their financial future.

Trezor’s commitment to empowering individuals through security, transparency and innovation continues to resonate with a global audience, driving record-breaking growth and positioning the company for continued success as the bull market accelerates.

About Trezor 

Trezor is the original bitcoin hardware wallet company, 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.

Trezor has expanded to offer a whole ecosystem of easy-to-use both hardware and software products that help protect users - from crypto novices to crypto experts. In 2023, the company launched its Trezor Academy initiative which educates grassroots communities across the African continent on safe participation in the bitcoin ecosystem. Trezor is part of SatoshiLabs, a technology holding company with various interests in crypto and bitcoin companies.

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