Over 9,017,101 People Are Already Bitcoin Millionaires – It Is Up to You To Join This Club
Think long-term, then act.
Written by Sylvain Saurel - In Bitcoin We Trust
At the beginning of May 2020, I wrote an article explaining that more than eight million people were already millionaires with Bitcoin. Many people in the general public were surprised by my assertion. Indeed, these people still reason in the current monetary and financial system.
At the time, the price of Bitcoin was $8.8K.
These people thought that to be a millionaire with Bitcoin, they needed a little more than 113 BTC. In reality, it takes far less BTC to be considered a millionaire in the Bitcoin world.
You must think in Bitcoin mode
This is because, in the future, talking in Satoshi rather than BTC will become the norm. So remember the following equivalencies:
1 Satoshi = 0.00000001 BTC
1 BTC = 100,000,000 Satoshi
Satoshi is the basic unit in the Bitcoin system that will continue to gain importance in the future. As the price of Bitcoin increases in U.S. dollars, it will become easier to speak in Satoshi.
To be a millionaire in the Bitcoin system, you will need to own 1 million Satoshis. This is equivalent to owning 0.01 BTC.
Over 9 million addresses are already millionaires in the Bitcoin world
I hadn't looked at the details of the richest addresses in Bitcoin for some time, so I had fun doing this exercise today. I could see that the 9 million-mark of addresses with at least 0.01 BTC had been passed:
This number is constantly increasing. To amplify things, I deliberately referred to people in the title of my article rather than addresses of the Bitcoin network. Since a person can have multiple addresses on the network, this number may be lower. Nevertheless, this is the trend that should be observed here.
This upward trend is a testament to the ever-growing awareness of the importance of Bitcoin in a future world where everything will be digital.
The Bitcoin price crash of May 2021 will allow people with a long-term view to accumulate more BTC and join the ranks of Bitcoin millionaires. Owning at least 0.01 BTC should be your first goal when entering the world of Bitcoin.
The next goal is to achieve ownership of 1 full Bitcoin.
Bitcoin's divisibility is your best ally in achieving full ownership of 1 BTC
With the current price around $35K, this seems difficult for many people. The reason it seems so difficult is that you think you have to buy 1 whole BTC. Of course, you don't have to. One of the great advantages of Bitcoin over gold is its awesome divisibility.
Bitcoin is divisible up to eight decimal places as I told you before when I talked about the base unit which is the Satoshi.
The best strategy to reach the possession of 1 BTC in full in the future is to opt for DCA (Dollar-Cost Averaging) buying. Take it one step at a time. Great successes are always built one step at a time. This strategy may seem simplistic, but it's the one that works best with Bitcoin.
It allows you to steadily accumulate more BTC without even thinking about it if you automate it. This will prevent you from joining the ranks of those who hesitate, always hoping for a further drop in the price of Bitcoin. This short-sightedness will simply make you miss out on the Bitcoin revolution.
The richest addresses have long understood that Bitcoin is a marathon
If you take a closer look at the statistics of the richest addresses in Bitcoin, you can also see that more than 3,165,863 addresses are already multi-millionaires in Bitcoin. These addresses have more than 0.1 BTC. This number is up by more than 160,000 addresses since May 2020.
Just under 800,000 addresses have at least 1 BTC. The exact number is 794,839 addresses.
Finally, the number of billionaire addresses in the Bitcoin world, i.e. owning at least 10 BTC, stands at 146,597. People who believed in Bitcoin before anyone else falls into this category, and are naturally rewarded for their faith in this incredible monetary revolution.
The Bitcoin revolution is really a marathon, not a sprint. To get the most out of it, you need to stick to the four "Keep":
Keep stacking to join this club where you need to own at least 0.01 BTC
Born in the heart of summer 2019, the #StackSats movement is here to remind you that every Satoshi accumulated will make a difference in the future. For those who doubt it, know that you could have accumulated 6.93 BTC during 2015 by exchanging $5 for Satoshis every day.
During 2019, this accumulation method would have allowed you to accumulate just over 0.30 BTC. At the current Bitcoin price of around $35K, buying $5 worth of Satoshis every day for 5 years would allow you to accumulate 0.25 BTC. Of course, this amount will be reduced by then, as the price of Bitcoin will soar in the coming months and years.
Nevertheless, this gives you a good idea of what you can achieve by going into the accumulation mode with Bitcoin. It's up to you now to decide if you want to join this revolution and join the ranks of the 9,017,101 addresses already millionaires in Bitcoin in the future.
In Bitcoin We Trust
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I'm almost a millionaire. I'm kidding, but I'm about to join the club.
I keep trying to buy bitcoin. My price average is falling with declines.
Actually, this is my opportunity. As it is for everyone. I love it here.
With a wish to rewrite from very different days.
Thanks for the article.
Have a nice day.
Very good research, I enjoyed reading it. We can certainly accumulate bitcoins with logical small steps and enter this list by going through a long-term process, it is not impossible, you just have to believe and be patient.
Thanks for the article.