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How much BTC do I need to be able to become a millionaire?

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Avatar for avrorp
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1 year ago

Most Bitcoin investors, at some point will have asked themselves the following question, what is the minimum amount of BTC I need to be a millionaire in the future?

If we are pragmatic we would need to have at least one million dollars, euros, pounds, or whatever currency we work with in exchange. For this, the answer is as simple as dividing 1,000,000 by the price of BTC at a given time. If we calculate it at the time of writing this article, ($ 46,000), we would need to have 21.74 BTC, but instead, if we go back in time and do this calculation again, at the minimums reached by this currency in the month of March of last year ($ 5,400), we would need about 185.19BTC. What this makes us see is that the hypothetical million dollars invested in March 2020, today would be about $ 8,518,740.

As there are few Elon Musk in the world that can invest $ 1.5B in BTC, at its historical maximum price, and as there is no crystal ball that shows us the price that this asset could reach in the future, yes we can Based on some theories, which establish a minimum of BTC that we should keep, which will allow us, perhaps not to be millionaires in the literal sense of the word, but to help us achieve the long-awaited financial independence.

These studies are based on the premise that the maximum supply of BTC is 21,000,000, without taking into account the amount that has been lost forever, which is between 4 and 6,000,000 BTC, we would be talking about each inhabitant of the land (7,730m) would correspond to about 0.0027 BTC. If, to the scarcity of BTC, we add the time it takes for the blockchain to create new currencies, and that the interest in new people and also by institutional investors grows every time, the perfect storm is created for its revaluation.

Among some of the proposed theories and returning to the million dollar figure, we find the one formulated by the founder of Swiss Key (Kyle Kemper), who proposes his famous “million dollar formula” that relates three variables: BTC growth desired ($ 1,000,000), global wealth and total BTC, resulting in 0.06624605 BTC, which will be equivalent to 1 million dollars at some point in the future.

As I mentioned earlier, we do not have the crystal ball and the million dollar formula, it is still one theory among many, what we are sure of is that the BITCOIN will continue to grow since its offer is limited. That being said, the more BTC we can accumulate the better, so the best strategy comes down in two words, BUY & HOLD.

Thank you very much for your time.

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Avatar for avrorp
Written by   2
1 year ago
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Comments

Help, adres btc: 1BFxfxWT1MthEuRHHRqbD1gTGqsp2Zyyt

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1 year ago

Don't forget BCH in this picture, it is basically the same as BTC but can have a larger number of users

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1 year ago