Can bitcoin make someone the richest in the world?

[Zanab247]

I came to investigate the richest man in Africa, he is not a bitcoin users, but a business man who don't depend on bitcoin investment.
The richest man in the world, he is not a bitcoin users but a business man who use fiat Money to invest and make a good profit.
Is there any way someone can use bitcoin to invest and become the richest in the world?
Your opinion is needed.

[Charles-Tim]

Fiat has been the currency these richest people are using because it is what is accepted by the government earlier, but know that fiat itself is an inflationary currency subjeced to depreciation by governmental manipulations, although the manipulations can be due to what could favour the country in a way foreign currencies are reserved, but devaluing the worth of the riches. Fiat does not have the opportunity bitcoin gives, you can hold fiats and the money will becoming depreciating, but unlike bitcoin, your money will appreciate.

But, know that these richests you are talking about, it is not that they deal with fiats, they make use of fiats as an exchange for goods and services, not fiats that increase their wealth and worth, it is their business that increased it. And as bitcoin is going mainstream, they will also make use of bitcoin and many other cryptocurrencies  as their payment methods.

In Africa, Aliko Dangote is the richest with $15 billion worth or so now but not amount the first 100 richest in the world again, what caused it?  It is because Nigeria government have to preserve their foreign reserve during economy recession in 2016 or so, at the time, US dollar to Nigeria Naira was 169 naira, but now at 480 naira. Dangote was able to be the 23rd richest in 2016 in the world with the worth of $23 billion but governmental manipulations to preserve their foreign reserve depreciated Naira and Dangotes worth reduced and not among the richest in the first 100 listsb since then. If Dangote have some of his worth in Bitcoin, this would have not happened, because assets did not devalue, it is the Naira that could devalue. If bitcoin had gone mainstream and dangote s using it and have some of is funds in bitcoin, he would have increased more in wealth now, and able to bypass the government manipulations to an extent and also bitcoin would have multiplied his wealth.

Bitcoin is money, and deflationary money, while fiat is money too but inflationary (depreciating), bitcoin can appreciate the value of someone's wealth, while fiat can devalue it. But know that not fiat makes those people the richest, if not for their assests and businesses they have, they will not be rich like that, and money is just a means of exchange which bitcoin can do if gone mainstream like fiats.

[bitbollo]

bitcoin is pretty new on the market despite classic currency or asset. Satoshi Nakamoto has been ranked in top 100 by Forbes (44th position).
with a net worth of 19.4 billions of USD in 2017.
I am not sure it can bring people to be the richest in the world, but for sure as nature " deflationary " it can be something interesting in a speculation perspective.

[lionheart78]

I came to investigate the richest man in Africa, he is not a bitcoin users, but a business man who don't depend on bitcoin investment.
The richest man in the world, he is not a bitcoin users but a business man who use fiat Money to invest and make a good profit.
Is there any way someone can use bitcoin to invest and become the richest in the world?
Your opinion is needed.

Possibly no because:

1. Bitcoin has a limited supply and the majority of its supply had been mined so there is a very slim chance that one person will own half of the coins.
2. Bitcoin price is highly volatile, it can crash anytime or skyrocket anytime thus making good sense investors hesitant of going all in to this cryptocurrency.
3.  Knowledgeable investors always diversify.

[hatshepsut93]

Jeff Bezos' networth is 190 billion. Satoshi Nakamoto could be owning around 1 million Bitcoins. If 1 Bitcoin would cost more than $190,000 than his networth would be more than that of Jeff Bezos', assuming it won't change, for the sake of argument. There are other individuals who hold a lot of coins, but still much less than a million coins, so Bitcoin would need to cost millions of dolllars for them to become the richest person in the world.

[blockman]

A rich person can invest in bitcoin but to make someone the richest in the world, it is possible but if you'll make it like that, there are a lot of other contenders if that's the category. Making someone rich through bitcoin is possible. Going with the plain category of making someone rich through bitcoin, this is much better to say because the richest people have their own technology that made them part of the richest. Zuckerberg, Bezos, Gates ,etc.

[Baofeng]

I came to investigate the richest man in Africa, he is not a bitcoin users, but a business man who don't depend on bitcoin investment.
The richest man in the world, he is not a bitcoin users but a business man who use fiat Money to invest and make a good profit.
Is there any way someone can use bitcoin to invest and become the richest in the world?
Your opinion is needed.

If bitcoin price goes on to six digits, maybe there could be known or unknown individuals who can become billionaires, so theoretically it's possible. But then again, like any other investment instruments, you should really know how to play and take advantage of the market to at least make a profit here. Just remember though that bitcoin is not the answer to poverty or instant solution to someone to make a lot of money in short amount of time. It is not a magic bean.

[pixie85]

Of course it can. If it could make teenagers into millionaires it can also make a millionaire a billionaire and so on.

These rich guys who were very early into Bitcoin like Richard Branson will only climb higher on the ladder of the richest people in the world.

It's even easier for a millionaire to become a billionaire with bitcoin than it is for any other person because for you a million dollars is a lot but for them it's somethimes only 1% of what they own. If they lose it's nothing but for you to lose a million would be devastating.

[Asuspawer09]

I came to investigate the richest man in Africa, he is not a bitcoin users, but a business man who don't depend on bitcoin investment.
The richest man in the world, he is not a bitcoin users but a business man who use fiat Money to invest and make a good profit.
Is there any way someone can use bitcoin to invest and become the richest in the world?
Your opinion is needed.

I guess with high volume investment, investing in the right time, and at the same time selling your investment at the right timing or Bullrun I guess you could be pretty close.

With the amount of money that you could make it could easily make you rich, for example investing up to hundreds of bitcoin when the market price of bitcoin is around 20$-1000$ the profit that you are gonna make is high.

But still investing in bitcoin is not a constant profit you could probably make a profit after years of waiting compared to a company like apple or google so I don't think so.

[Cling18]

It's possible but there's still no guarantee. Bitcoin is not a shortcut to success because it still needs hard work and lots of effort. Rich people didn't get rich instantly because most of them invested their time, money, and effort to earn more and that's just the same with Bitcoin. You still need good capital plus skills and effort. You might earn more if you'll hold and wait for the best time to sell. There are really lots of things that you have to invest in if you want to get rich through Bitcoin and I swear that it's never that easy.

[oktana]

I keep wondering when we'll stop looking at bitcoin as some sort of investment scheme and use it for its main purpose. If we keep on this way instead of seeing it as a currency, I'm sure thing can go super badly. Cause when people start to feel that their 'Investment' is going wrong(volatility), they'll definitely pull back and to me, this can lead to a big crash of bitcoin (both as an investment and as a currency).

[mangsitin]

yes, of course you can.  it depends on how mentally he is in investing in bitcoin and also his predictions.  But don't worry, when bitcoin falls, it's an opportunity to invest, imagine! in March 2020, bitcoin price was $ 3200.  and now $ 18,000.  If in March you invested just 1 bitcoin, then your profit today is $ 14800.  extraordinary.  How if you invest 1,2,3,4 bitcoin, the greater your profit.

[DoublerHunter]

I came to investigate the richest man in Africa, he is not a bitcoin users, but a business man who don't depend on bitcoin investment.
The richest man in the world, he is not a bitcoin users but a business man who use fiat Money to invest and make a good profit.
Is there any way someone can use bitcoin to invest and become the richest in the world?
Your opinion is needed.

^ There are too many ways to make us richest, not only in bitcoin and also not only in fiat. It will depend on us how to manage our investment will grow faster and earn massive profit in a short period of time. Probably he is good at managing business and investing in crypto compared to physical investment are the same risk and also the same need to manage so that it will work. Nevertheless, there was a thread before that there is a young boy who owned hundreds of bitcoin that came from his grandma, as a birthday gift when the boy was young. Do you think he is not one of the richest people by now?

[SaShiRaJaVu]

I came to investigate the richest man in Africa, he is not a bitcoin users, but a business man who don't depend on bitcoin investment.
The richest man in the world, he is not a bitcoin users but a business man who use fiat Money to invest and make a good profit.
Is there any way someone can use bitcoin to invest and become the richest in the world?

If you are intelligent enough to understand a business model and incorporate bitcoin then you can make money but the amount of money you are going to make depends upon the idea and the execution.

For example, I do not see Jack Ma the owner of Alibaba Group as the brightest individual and i came to this conclusion after listening to a few interviews and the dumb fold ideas he is having gives you that idea because he is naive in some of the common things and if you look at his business models what he did is copy from other companies and that made him a billionaire.

Basically what i am telling is, you do not need to be brightest individuals but investing at the right time can make wonders .

[Oceat]

To make someone as one of the richest man in the world, it's either they enter the trading profession of stocks or crypto market but having this kind of profession doesn't mean you will gonna be rich in the future, it still depends on how you handle your job and money plus minimizing the risk. So in other words you will have to work hard before you attain the title as one of the richest man in the world.

[cryptopediabd]

Untilled now it wasn’t. But in future u will see bitcoin holders are the richiest in the world. Hope that well will be alive at the time. But the bitcoin price should touch 1m dollar.

[JeffBrad12]

It should be the only satoshi who can enter the list of the richest people in the world because he's owned 1 million bitcoin. Crypto is still speculative and it's not an impossible thing to make people possible to be the richest people in the world.
Sky is the limit and bitcoin can worth maybe 200k or even more in the next decade. no one knows about this but this looks possible because crypto is still on early adoption.
When crypto worth more and more value, there will always be the new richest people.

[Oasisman]

I came to investigate the richest man in Africa, he is not a bitcoin users, but a business man who don't depend on bitcoin investment.
The richest man in the world, he is not a bitcoin users but a business man who use fiat Money to invest and make a good profit.
Is there any way someone can use bitcoin to invest and become the richest in the world?
Your opinion is needed.

Bruh, Bitcoin is like 10+ years old and nobody has the risk tolerance in putting all his net worth to Bitcoin since day 1.
If somebody has like 1million Btc equivalent to the current value, still that ain't enough to be called the richest man in the world or even in a single country.
For sure, the richest man in every country doesn't came from Bitcoin investment but came from  hard work combined with intelligence through business.

[FinneysTrueVision]

Currently it is not possible. Jeff Bezos net worth is more than half of bitcoin's market cap. It would be too difficult for any one person to acquire such a large percentage of the total supply. Maybe in a decade from now we will see Satoshi Nakamoto himself at the top of the Forbes richest list. It is assumed he is the largest holder and it would be nearly impossible for anybody today to surpass him so if the price was high enough for someone to be the richest person alive, then Satoshi is the only one who could claim that title.

[Hydrogen]

I think the terminology to answer this question invokes: potential profit.

"Do bitcoin and cryptocurrency sectors offer enough potential profit to conceivably make someone richer than Jeff Bezos, Warren Buffett or Bill Gates?"

There are many legitimate scenarios where an altcoin like THETA appreciates 1,000%+ in value within the span of a few months. Based on this, I think the answer is yes.



If someone could make good market trades and harness the high growth potential of bitcoin/crypto, they could conceivably become the richest in the world.

The biggest difference between established players like Warren Buffett and crypto millionaires. Warren Buffett has been investing since 1950 and had more than 70 years to grow his wealth. While bitcoin and crypto investors have had a far shorter window to invest. It is possible that bitcoin and crypto investors will eclipse traditional finance gurus when they've had the benefit of multiple decades to work with.