I've seen some predictions that Bitcoin is going to 1M USD eventually. If so, then everyone should buy Bitcoin and become millionaire eventually, right? Well, let's do some math for starters.
Right now BTC is sitting around 54k USD. In order to reach 1M USD per BTC it has to increase 18.5 times. Possible? Who knows. Given the amount of media attention it gets, anything is possible.
But remember, in order for someone just starting in crypto today eventually to become Bitcoin millionaire, one has to buy at least 1 BTC at the price of 54k USD. THEN, if the price some day goes to 1M USD, they will become Bitcoin millionaires.
54k USD is a lot of money for regular people and not many can invest that much, at least straight away, especially knowing the general financial advice not to invest more than 10% of your total wealth. So a person has to have 540k USD total in order to feel relatively safe to invest 54k USD. That's almost half a million dollars!
Let's go back to our math. Let's say a person could have 1k USD for investment purposes, which is much more realistic scenario for more people. If one buys 1k USD worth of Bitcoin right now, and if BTC eventually hits 1M USD, then their investment would be worth 18.5k USD.
Even though it looks like a lot, it's far from enough in making a person a Bitcoin millionaire.
Let's look at LEO for a second. Right now the price comfortably sits in 1 USD price range. Imagine someone buying 1000 LEO right now with 1k USD. If it were to rise 18.5x to 18.5 USD per LEO, this investment would be worth 18.5k USD.
For early Bitcoin investors, it's a no-brainer. If you already have a few Bitcoins in your portfolio which are hodling over the years, it is a very solid investment. But for somebody new, it might not be so.
A new investor has to ask themselves, what coin has more potential to appreciate in price 18.5 times faster - BTC or LEO? In other words, what would happen first - Bitcoin hitting 1M USD or LEO 18.5 USD?
What are your thoughts?
Posted Using LeoFinance Beta
Definitely LEO, because bitcoin is getting a lot of publicity from all over the world, while LEO is growing practically from the shadows but unlike bitcoin which is much more volatile, LEO has shown more stability.
And if we compare the growth of each we can find similarities in terms of projection, so LEO would be my best choice.
Posted Using LeoFinance Beta
I'm glad here a lot of people see the potential for LEO.
Posted Using LeoFinance Beta
It's too late to buy bitcoin now for not rich people 👍
Posted Using LeoFinance Beta
Yes and yet that is what most newbies buy first because of FOMO created by the big media. Unless they are onboarded hy friends into Hive and Leo.
Posted Using LeoFinance Beta
Nice way to put your point @organduo. Anyone starting to invest in crypto should look at bitcoin only as an entry point. It's not going to make you Rich the way it did for early movers. If we want to make huge gains then we need to invest in a coin in its early stages. $LEO is one such great example as explained by you.
Posted Using LeoFinance Beta
My point exactly. I'm glad I'm not alone in thinking like this. Thanks!
Posted Using LeoFinance Beta
That's exactly what I wrote about yesterday. I said it feels like holding x amount of Bitcoin right now. Obviously neither HIVE, nor LEO will reach BTC's level, but we, as early adopters can gain a lot with that we're doing now. BTC is just one investment opportunity, there are other hidden jams laying around.
Posted Using LeoFinance Beta
I agree. Whenever my relatives ask me how much Bitcoin do I have I feel it's a wrong question because Bitcoin is the only crypto they have heard of.
Posted Using LeoFinance Beta
Alts are worth exploring for newbies in the crypto industry although they posed some risk. However, a project like Leo with its good track record can be an interesting buy at its current price. And unlike bitcoin, you can use your Leo tokens for different things (stake, curate, provide liquidity, delegate) these activities also have economical value and increases the wealth of the individual as the token appreciates
Posted Using LeoFinance Beta
Of course with defi one can wrap Bitcoin, provide liquidity and earn rewards. But this second layer poses more risks as we all know. So a project like LEO is clearly one of the winning ones when it comes to new investors. Even if the price drops, one can make up the loses with author and curation rewards.
Posted Using LeoFinance Beta
good point
Posted Using LeoFinance Beta
I'm glad you liked it.
Posted Using LeoFinance Beta