Is Bitcoin (BTC) the key to wealth? Although it only costs $270 to buy 0.01 Bitcoin (BTC) today, current trends in global wealth distribution and scarcity in Bitcoin supply could result in the value of 0.01 BTC being $1 million in the future.
According to Credit Suisse’s Global Wealth Report, there are 51.9 million people in the world with a net worth exceeding $1 million. The index takes into account all financial and real estate assets and subtracts debts when calculating a person’s net worth. Although they represent 1 percent of the world’s population (excluding children), millionaires hold 43 percent of global wealth.
According to Credit Suisse’s research, the number of people with a net worth exceeding $50 million is 175,700, the number of people with a net worth exceeding $100 million is 55,800, and the number of people with a net worth exceeding $500 million is 4,410.
Maximum supply in 10 years
Bitcoin’s total supply was measured at 18.64 million as of March 1, meaning 2.37 million BTC remained to be mined. This supply will reach 20.6 million in 10 years and 98 percent of the total supply of 21 million will be put into circulation.
When the 1.9 million BTC that has not been touched for the last 10 years is removed, 19.2 million Bitcoin remains for millionaires to use. This means that in a scenario where all millionaires share the BTC supply equally, there will be a decrease of 0.37 BTC per millionaire, including cryptocurrencies that have not yet been mined.
On the other hand, if Bitcoins that have not been moved in the last 5 years are considered as lost, the tradable Bitcoin supply decreases to 14.57 BTC. In this scenario, there is only 0.28 BTC per millionaire.
BTC in the future
In addition to millionaires, there are 590 million people whose net worth exceeds $100,000. Although their purchasing power is low compared to millionaires, it should not be ignored that these people are also possible savers.
Assuming the above global wealth distribution remains the same, millionaires represent 6.32 million of Bitcoin’s remaining supply. So each of them can only buy 0.12 BTC.
590 million people with a net worth exceeding $100 thousand are left with 5.9 million, meaning that each of them can buy 0.01 BTC. An investment of 0.01 BTC ($500) today can enable you to be among the richest 13 percent in the future.
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