According to a top Google Search there are 15.7 Million Millionaires in the world.
Now currently there is only 16.5 Million Bitcoin available, which is very close to 1:1 for every Millionaire (It is actually 1:1.05).
So realistically if Bitcoin became the main way to transact globally, and every Millionaire started just buying 1 each.. the price would probably go very high very fast!
But it is more likely that a Millionaire would buy more like 100+ Bitcoin if they were converting their value to Bitcoin due to a global economic shift.
So the point of the math is even though theres only 16 mil Bitcoin available, and nearly 16 mil Millionaires does not mean that nobody else can afford it.
It just means once the 99.99% of the world not currently using Bitcoin starts to move in.. We will probably see the price sky rocket, and you can read any current sell orders on the exchanges, and see that there is not much Bitcoin actually available for $4,400.
So realistically Bitcoin will help everyone, and especially once the lightning network is adopted, and micro-payments become a reality.. People say Bitcoin is in a bubble, but it is a payment system, and the more people use it.. the more valuable it will be.
Disclaimer: This is not investment advice, and I am not an Investment Advisor. This for entertainment purposes only!
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we are only in the beginning of the crypto revolution and as you see here below in the table of all the bitcoin wallets - only about half a million wallets have more than 1 BTC
when everybody will want/start to use bitcoin it will not be affordable anymore even milliners will not be able to afford to buy 1 BTC
I aggree.. also @keiserreport said Bitcoin could go to a trillion dollars, and with the derivatives market being worth $1.2 Quadrillion I could easily see that being possible.
I explain how the derivatives market moving into crypto could see Bitcoin possibly being worth $274 Billion per Bitcoin click here to read!
If that were the case, then the price will skyrocket because fiat will loose value... just like McAfee said it will :)
Exactly!
That's only 0.2% of the world.. and not even including the other 99.8% who will probably want to get Bitcoin as well!
And then there are the hundreds / thousands of bitcoins lost on hard drives and stuck in wallets that will not be heard from again unless Quantum computing comes along and unlocks there.
Plus Sathoshi still has a lot that have never seen the light of day.
The growth is still coming! As someone said, when Bitcoin hits $1,000,000 then a Sathoshi will be worth a penny.
The day 1 satoshi is 1 penny, and we can transact for less than 1 satoshi will be a glorious day!
Millionaires are millionaires for a reason. Most of them know about money and look for ways to make their money multiply. Unfortunetly, I do know a few millionaires that do not consider Bitcoin and crypto in general to be a safe investment. They'd rather invest in gold and other "physical" assets and assets that can be liquidated easily. Once crypto gets a few more advancements, more people will jump on board. But there's still a traditional way of thinking for investments when it comes to big dogs. :/
This post received a 3% upvote from @randowhale thanks to @stealthtrader! For more information, click here!
great idea :) One day bitcoins will be the main currency
:D
Good point, I bet a lot of the millionaires probably already hold bitcoin. But bitcoin sure does have a lot of room for growth!