in

The average millionaire today can have at most 0.375 BTC, and this number gets lower by the day

Credit Suisse Research Institute puts the number of millionaires worldwide at 56 million total, of which 40% are in the United States. (Source: [https://www.economist.com/graphic-detail/2019/10/22/millions-of-millionaires](https://www.economist.com/graphic-detail/2019/10/22/millions-of-millionaires))

There are many, many things that all millionaires can have and buy. A full bitcoin is not one of them. This number is likely even lower due to several additional factors:

* Institutions and individuals buying it, holding, and not selling anytime soon
* Satoshi’s stash plus lost coins
* Coins in the hands of non-millionaires

among others. This 0.375 BTC number however gets lower and lower over time because:

* More fiat is issued, creating more fiat millionaires
* BTC is lost
* BTC is bought and held by everyone else

If you have this amount, there are only two possibilities for you in the next 10 or so years: I. BTC fails. II. BTC wins (I actually believe like many that it has already won), and you will be a fiat millionaire (in today’s purchasing power, let alone future years purchasing power). In this case, you should celebrate not because you have one million dollars, which might as well be less useful than toilet paper in ten years, but because you can buy and have whatever it buys today.

An important point mentioned in this research is that ” The total net worth of all millionaires stood at US$158.26 trillion. ” That’s the lower bound for BTC’s total addressable market (TAM). No other shitcoin has that, because they are trying to be something else than money: bitcoin is the soundest money, and there is no close competitor (like Michael Saylor would say “this story about 60% dominance is bs. It’s like 95 or 96 percent dominance”). Hence it’s pointless to compare whatever market cap they have with bitcoin. The important conclusion from that is that bitcoin has the highest risk-adjusted upside potential: we are talking about a 150x from here **at least**. Whatever shitcoin you can think of that has surpassed, let’s say, 20 billion market cap, is competing with some 10 others on a single digits trillion dollar addressable market (other than money) at best. Money printing helps us more than it helps them (i.e. our TAM increases at least as much as theirs). So there is really no point in holding any other coin other than bitcoin **if you believe that either bitcoin alone or “crypto” is the future: either bitcoin alone succeeds, and it offers you the best return, or bitcoin and others succeed, and bitcoin offers you the best return.** The only reason to hold other coins is if you wanna gamble. In that case, your fate is a nice -99.99% either in fiat terms or in bitcoin terms sooner or later.

Now an also important fact on **billionaires**:

This has been said repeatedly and I believe it is worth repeating once again: **we are seeing the biggest wealth transfer in the history of the world**. If you read the mainstream media you might have read multiple times that “billionaires have never been richer”, “billionaires wealth are growing faster during the pandemic”, etc. These are half-truths (or lies). Their wealth is shrinking and it is shrinking fast in BTC terms. I’d be surprised if there was one single billionaire whose wealth decreased by less than 95% in the last five years.

For those willing to do the math, here’s the historical billionaires list:

[https://stats.areppim.com/stats/links_billionairexlists.htm](https://stats.areppim.com/stats/links_billionairexlists.htm)

I invite those knowledgeable in how to put this through to come up with something similar to [https://www.pricedinbitcoin21.com/landing](https://www.pricedinbitcoin21.com/landing) but for the world’s richest people over time. Will be nice to see how the money game looks when you are counting points with the soundest money on earth instead of monopoly money.



View Reddit by cidadefalcaoView Source

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

47 Comments

  1. Price of btc today is ~55k. So of course a millionaire can buy multiple of them.

    What you are saying is that if all millionaires in the world tried to buy btc, then none of them could have a whole one. Though that’s not realistic that they would try.

    But it seems many of them would actually get a lot less than 0.375 because they would drive the price up enormously in the process, and so the average btc amount obtained across them all after the buying finishes would probably be well under 0.375.

    or so it seems to me.

  2. Billionaires are not holding cash. Their net worth is based on the value of their businesses, securities, property, and other assets. So, I respectfully disagree with your implication that billionaires are losing their wealth. I wouldn’t mind if you explained to me in another way how the net worth of Billionaires is decreasing.

    I do think that people who have a little bit of savings have a lot to gain from holding Bitcoin, since keeping cash that is not immediately needed basically just erodes net worth.

    Billionaires know this too and they don’t unnecessarily keep cash.

  3. What OP is failing to realize is that a “millionaire” is not necessarily a wealthy person, *at all*. There are over 20M millionaires in the U.S. today. I know several. Of the ones I know, they all have over $1M of illiquid investments in their retirement 401k/IRAs, otherwise they aren’t “struggling” but live in typical middle-class neighborhoods, and only have a small amount of $ leftover after they pay the bills. This typically funds their family vacations and home maintenance, as you are *always* fixing things or re-modeling/etc. when you own a home. The ones I know don’t give a shit about Bitcoin, and don’t really have tons of money to be investing (their large retirement accounts are just from company match and company profit sharing in a typical 401k over the years), but they will retire “on time” or maybe even 5 – 10 years early, but many enjoy their careers and enjoy continuing to work part-time even after they have enough to retire.

    OP’s premise is that “millionaires” are “wealthy and surely will have plenty of extra money to invest at least some in bitcoin”, but this premise is false.

    P.S. – I still love Bitcoin, and everyone *should* have at least some, but I know I can’t change the minds of the millionaires I know.

  4. OP did some research but is working from a fundimentally unsound premise. They assume BTC is both the prevailing currency and asset class to which other financial instruments should be measured against.

    BTC has little utility as a medium of exchange so it can’t really be considered a currency. It’s purchasing power fluctuates more than usd so it has major flaws as a store of value.

    Most of the people who own btc don’t want it for its own sake and are simply hoping the next person is willing to buy it for more than they did. It’s price speculation and although there is nothing wrong with that inherently, people shouldn’t delude themselves.

  5. Sounds like a midterm paper for ECON 101 written by a community college student. What is the average age of a millionaire? What is the average age of a Bitcoin holder? When was the data collected? How much did Bitcoin private ownership increased in the last 2 Quarters?

  6. Every millionaire could have 1 BTC if they wanted to, because as soon as demand rose (when they start buying) price would rise, and all us peasants would sell so that we can finally pay the mortgage, be financially secure or get the lambo and then millionaires would be the only ones or at least the majority of people holding Bitcoin. Everyone – and I mean everyone – has their price, and the millionaires pockets are deeper than our price.

  7. This only assumes every millionaire wants to own BTC though, if I was a millionaire without having invested in crypto then I’d probably have no need or reason to start now.

  8. I have seen this comparison of how many millionaires relative to btc and I’ve considered it and I still cannot find any real relevance to the value of btc. I guess I still don’t get it.

    Bigger is where are you getting this number of $158,000Trillion net worth of all millionaires? That is not remotely possible…? (You must mean $158Trillion, which is still unlikely, The lower bound for total addressable market?) Bitcoin is going from $1T to $158,000T? Is that by the end of the year?

  9. Lol how are they defining what constitutes a millionaire? If it’s just a net worth of a million dollars then that makes my parents millionaires, me a millionaire, anyone who owns a house in Sydney, Melbourne or Brisbane Australia millionaires

  10. > can have at most 0.375 BTC

    Huh? Try it again in English.

    You’re missing half the statement.

    > we are seeing the biggest wealth transfer in the history of the world. … Their wealth is shrinking and it is shrinking fast

    What an absolute load of nonsense.

  11. Question, why does the average millionaire care about the price of bitcoin? They are already above the line – and don’t need bitcoin in order to stay as an average millionaire.

  12. Most today’s millionaires are already priced out of having 1btc.

    The number of millionaires who will be able to buy 1btc is actually much lower than their net worth might suggest.

    If your net worth is 1-10m there is ver low probability you will put more than 10% of your net worth in bitcoin. By the time millionaires are actually buying bitcoin regularly there will only be a total of a couple of a million BTC available at any price.

    tldr: most of today’s millionaires will probably have less than 0.1 btc. Almost all BTC are already distributed and a big growing chunk of that will never be sold.

  13. I’m hoping to cash in at the end of the bull run this year and sell a bunch of alt coins to increase my BTC position. I’m tempted to do it now before BTC skyrockets? I have bags of DOT and LINK and ADA. Still waiting for LINK to do it pump. What would you all do?

  14. For once, that’s a quality – bullish – post around here; with numbers and smart explanations. Thanks OP ;))
    However, IMHO, the « BTC fails » scenario is still the most likely to happen. I can only concede Bitcoin has overcome all the obstacles of the last decade but there were mostly direct (technical) attacks, for which Bitcoin was built to resist over time.
    I believe the biggest challenges might be ahead. Bitcoin is under the spot lights; powerful people who were/are rejecting Bitcoin start to see the « project for geeks and marginals » is not just a bubble but a rising threat.
    That’s why I’d not be surprised to see more and more « indirect » attacks, like government’s crypto alternatives with gross copies supposed to kill Bitcoin like a constrictor snake slowly absorbing its prey.
    Massive campaigns to discredit anything emerging from Bitcoin are too obvious and inefficient. Growing a cancer inside Bitcoin’s ecosystem (in order to create instability) would be much more efficient.

    But don’t get me wrong; despite all of this, I remain confident. There is a brillant community (apart from the greedy investors)

    Vires in numeris 🙂

  15. This idea hinges on btc being the only cryptocurrency.
    Why choose to believe something you know to be wrong.
    There are many fiat and many crypto currency.

    There is $40T USD in the world, $1.3Q in the world.
    If everybody invested everything into USD the value of usd would raise by 3210%. doesn’t matter because it’s not going to happen.

  16. Wow that pricedinbitcoin site really makes it clear nothing has outperformed BTC. I hear so many people bragging about the home they bought is already up 25% in a year (in USD terms which has inflated by 25%). People are so clueless!

  17. The average millionaire could have at most 100k USD today, yet they are millionaires and I am poor as fuck.

    Thinking that BTC will be somehow fairly distributed is wishful thinking

What do you think?

Polkadot Massive Rally On Horizon ! DOT Price Eyeing $100 - Coinpedia - Fintech & Cryptocurreny News Media

Polkadot Massive Rally On Horizon ! DOT Price Eyeing $100 – Coinpedia – Fintech & Cryptocurreny News Media

Barry Sternlicht bitcoin

Billionaire Barry Sternlicht is a Bitcoin and crypto holder