Will owning 0.01 BTC really make you rich?

[Abiky]

I've read a few articles on the web which indicated you could get rich with just 0.01 BTC. At first, it seemed crazy to me considering that Bitcoin is still below $1m. But then it started to make sense after knowing that the pioneer cryptocurrency was designed with deflation in mind. Each halving had a positive effect in BTC's price, so one would guess the next one will lead us to a BTC worth more than $100k. To become a millionaire with 0.01 BTC, the price of one Bitcoin must be $100m. Prices are still volatile, so I'm having my doubts whenever I'd really become rich with just 0.01 BTC or not.

What do you think? Is it really possible to become rich with 0.01 BTC in the future? If not, why? Your input will be greatly appreciated. Thank you very much.

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[glendall]

if you look at the past 10 years if you buy bitcoin at 10 $ I think yes. I was rich if I sold bitcoin at 60k$ yesterday, but human nature never feels fast and the ambition to have bitcoin is very high, so no matter how many bitcoins you have, and no matter how much bitcoin you will never be satisfied. at a certain price,
and if we buy bitcoin today it might be said to be a fool to buy bitcoin at a price of 45k $ but let's see in the next 4 years bitcoin will definitely provide the same value if we buy bitcoin today as we bought bitcoin in 10 years ago

[Lucius]

To become a millionaire with 0.01 BTC, the price of one Bitcoin must be $100m. Prices are still volatile, so I'm having my doubts whenever I'd really become rich with just 0.01 BTC or not.

You ask a question and give an answer - do you think Bitcoin will ever be worth $100 million? If you don't think so, then with 0.01 BTC you certainly won't become a millionaire in $ or EUR, perhaps in some worthless national currency. In developed countries with a high standard, even 1 BTC does not mean that someone who owns it will be considered rich even if the price reaches $100k or more.

On the other hand, 0.01 BTC even today means a lot in some countries, although $400 doesn't seem like much - some people can't earn that much for a whole year.

[pawanjain]

I've read a few articles on the web which indicated you could get rich with just 0.01 BTC. At first, it seemed crazy to me considering that Bitcoin is still below $1m. But then it started to make sense after knowing that the pioneer cryptocurrency was designed with deflation in mind. Each halving had a positive effect in BTC's price, so one would guess the next one will lead us to a BTC worth more than $100k. To become a millionaire with 0.01 BTC, the price of one Bitcoin must be $100m. Prices are still volatile, so I'm having my doubts whenever I'd really become rich with just 0.01 BTC or not.

What do you think? Is it really possible to become rich with 0.01 BTC in the future? If not, why? Your input will be greatly appreciated. Thank you very much.

As you say, we would need bitcoin price to reach $100 million in order for us to become a millionaire with 0.01 BTC.
I don't think that will be happening until next 10 years. As the price of bitcoin is increasing it is taking more amount of marketcap to increase the price of bitcoin.
I can't even imagine how much marketcap would be needed for bitcoin to reach a price of $100 million.
Would we even be alive to watch BTC reaching that price though ? I certainly don't think so.
At the current state crossing $100k would be the first target which seems quite achievable.
1 million per bitcoin would be the next target which seems questionable for now.

[mk4]

Owning bitcoin in itself right now won't make you rich. It's a lot more of the fact that it will give your savings a nice boost, compared to just holding fiat where the value is guaranteed to drop slowly but surely. Some people think that solely holding bitcoin will save get them out of poverty; nope. You're going to need to actually earn money, obviously.

[oHnK]

This question may also have been asked by those who owned BTC from the start, but at that time many denied the future of BTC and said BTC was just a scam.  But look at those who in the beginning had only 10 BTC with a value of 10$ at that time, now have 10 BTC worth 420K USD.  Who would have thought it all?  BTC is a currency that has a role as a store of value, so there is nothing wrong with whether you can become a billionaire by owning BTC, because it has already been answered.  We just have to agree in the current bubble, don't be influenced by issues and hold your assets.  in the next 20 years no one can guess at what price BTC will be.

[NeuroticFish]

What do you think? Is it really possible to become rich with 0.01 BTC in the future?

In theory sky is the limit, hence 0.01 BTC can make you rich somewhere in the future. I can't tell how far (or near?) will that be. People do talk about starting to think in satoshis and what you've presented is 1M satoshi.
Now, it also depends on what one thinks as rich. For some $1M is already there, some may go even lower than that, some may want to buy a $10M mansion as a starter. People are strangely different.

But then, sky may actually not be the limit. Because at this values, one could not send on-chain less than the equivalent of a good number of thousands of dollars, the minimum fee would worth hundreds of dollars already... and the world's fiat/wealth may not be capable to sustain that.

What I mean that there may be a chance that at some point people will get rich having 0.01 BTC, but at that point this amount will no longer be quantified in USD.

[Ararbermas]

0.01BTC is enough capital and yes definitely it can make you rich especially if you know how to handle it and how to make it grow and etc. Indeed bitcoin is so very reliable when it comes investment or should i say proven and tested  wherein no need to worry because for sure with that kind of amount you can always get a good return after all.

[ChiBitCTy]

When I first bought bitcoin, .1 was 20 dollars. Now take a look at what .1 is. Now there’s a difference between rich if you live in say Thailand versus if you live in say the United States. I think bitcoin has a lot of room to run, but I think it’s going to take a lot of time to get to the point of .1 making any of us rich. I sure hope so! lol

[Raflesia]

when I said a few years ago when the price of bitcoin was still considered trivial it would be very likely that we wouldn't even consider 0.01 bitcoin to be valuable. but for now, actually 0.01 is quite valuable especially if they can reach $100k of course it will be very valuable.

but maybe 0.01 bitcoin in the future in the next few years will be more valuable and we can be considered rich just because we have 0.01 bitcoin

[Falconer]

What do you think? Is it really possible to become rich with 0.01 BTC in the future? If not, why? Your input will be greatly appreciated. Thank you very much.

No, although bitcoin still has the potential to reach much higher price in the future, I don't believe 0.01 bitcoin will make me rich if I don't manage it well. If bitcoin can reach $1 million, then 0.01 is only $10K and that's not enough to tell people I'm already rich with that amount.

I'm also not sure to see bitcoin hitting $1 million in the future (maybe very difficult), but I'm very curious about how long it will take bitcoin to hit $100K. So if I consider price fluctuation then 0.01 won't make me rich. But if I have 100 bitcoin, then even now I can state that I am already rich with bitcoin. Lol

[Sterbens]

Friends, don't worry or doubt, anything can happen in the cryptocurrency world. Do you still remember the $1 story that Davinci Jeremie suggested 10 years ago? Now that has proven that nothing is impossible if with 0.01 BTC in the future it will make us rich. It depends on how we are resilient by being long-term holders. It all started with doubts, in fact, the audience in Davinci Jeremie video regretted not following the advice he had given.

[DeathAngel]

Owning 0.01BTC will not make you rich any time soon. It will one day but we are talking years here, like 30 or 40. Even then I’m going to advise you try & stack far more than 0.01 BTC.

[mindrust]

Depends.

...on lot of things.

How much money do you need to feel "rich"? 0.01 btc can make you rich indeed. I am pretty sure 0.01 btc is so big for a guy that lives in Africa, he is making retirement plans on that amount.

Few years ago, today's 0.01 btc used to have the same dollar value of 1 btc. BTC did x100 against the dollar since then. Would you consider yourself rich if BTC does another x100?

[Gozie51]

You can be rich with such amount of btc especially with the prospect of btc rising in the future. If you had a little amount of Satoshi forgotten in your wallet around 3 years ago, you will see how much you have today when you open it. $0.01 you have today as bitcoin is around $45k , it will not be same with $0.01 when bitcoin is $200k for example.

[SquirrelJulietGarden]

It is possible and if Bitcoin keeps rising, I would become richer with any amount of Bitcoin I owe.

I am not sure rich here is millionaire or billionaire or simply richer is rich. If it is about millionaire or billionaire, we will have to wait for long to see 0.01 BTC has a value of $1M. I don't know I can live till that day to witness this unbelievable price of Bitcoin.

Positively, 4 years ago, 0.01 BTC did not have high value but now it is valued around $400 that is very cool. If Bitcoin reaches to $400,000, 0.01 BTC will be exchanged at $4,000 that is very good value. I think I can wait for that price and it is safer to hold 0.01 BTC and wait for a day I can sell it at $4,000 than invest in new altcoins.

[Welsh]

Depends.

...on lot of things.

How much money do you need to feel "rich"? 0.01 btc can make you rich indeed. I am pretty sure 0.01 btc is so big for a guy that lives in Africa, he is making retirement plans on that amount.

Few years ago, today's 0.01 btc used to have the same dollar value of 1 btc. BTC did x100 against the dollar since then. Would you consider yourself rich if BTC does another x100?

That's the real question. 100k to someone who's not living in a developed country is quite a bit of money, and probably is considered rich. Whereas, if you have that in the Western World especially that's not even enough for a roof over your head.

Almost everyone that's invested significantly into Bitcoin, i.e a substantial part of their wealth is invested in Bitcoin, would likely be either considered rich or much better off than they ever would be if Bitcoin x100, so there's not a lot to lose, right?

Okay, there's definitely a real chance that Bitcoin doesn't continue to go up, that's almost guaranteed at some point, though I'd say the outlook for the next couple of years are more or less pretty good.

[stompix]

To become a millionaire with 0.01 BTC, the price of one Bitcoin must be $100m.

And thus the total value of the 21 million coins would be...2100 trillion, or about 5 times the total wealth of the entire world.   Of course, 100 million could be achieved, the problem is that by that time 1 million might not make you rich even in an average country, not a 3rd or 4th world one.

I doubt 0.01 would make us rich, and if it does it will probably make us so by the time it makes really no difference since we're too old to care, with 0.1 the situation changes quite radically, raising the bar to 0.5 and that a real possibility. But, as usual, even here is a catch, you need somebody who has 20k right now to invest, and you won't find that many in a country where you can live like a king with 1 million.

The second problem, if in order to escape poverty 500 million people would buy and own 0.01 BTC, making them rich , how are you going to define rich since there is 10% of the world population has at least the same amount of money as you?

Oh, wait, I knew I was missing something..
Since when is the purpose of BTC to make us all rich?  

[Welsh]

Oh, wait, I knew I was missing something..
Since when is the purpose of BTC to make us all rich?  

Since the media spun it that way. I'll be honest I'm not going to have any qualms about Bitcoin making me rich, while also guaranteeing me security, and the freedom to manage my own money. That would be pretty neat, but its never been the purpose of Bitcoin to make anyone rich. I see that as a useful side effect of popularity, and demand.

Unfortunately, the original purpose or at the very least the original message has been lost on many of then new investors we see today; that's exactly what they are speculative investors looking to make a quick buck. I'm not trying to ridicule that either, perfectly fine for them to get into Bitcoin because of that, but I do think the proper benefits of Bitcoin are lost on many of the people.

[haasanjui]

0.01 BTC is equal to 431$ According to current price and that is not enough to make someone rich because it is less then 1k$ and we can't do anything from 431$. We can sell 0.01 btc and invest fund in another crypto coin then we can get little profit.