Huge Future Bitcoin Holders!

[Oluwa-btc]

A lot Unknown, that's why I ask a lot of questions.
With over 50 million millionaires across the globe and 21 million BTC , what happens when every millionaire out there gets 1 BTC ?
Half of the 50 is 25 and they can all get the 21million BTC.

This giving the rich a better chance to be richer, and not to the middle class nor poor.
Ain't this a threat to the future ? Cos I believe, 80% of Bitcoiner's are big time holders.

Thoughts please.
Thank X

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[1714829727]

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[Despairo]

Based on wikipedia a millionaire is a person whose assets exceed one million USD or $1,000,000 and we don't know the assets is a fixed asset or current asset, if fixed asset they can't easily move their asset to convert to fiat.

According to estimates, in the middle of 2021 there were 56 million people worldwide whose assets exceeded one million USD

How much is 1 BTC right now? it's around $39,000 this doesn't mean if a millionaire bought 1 BTC, the rest BTC's price will still $39,000... of course it will increase and exceed $1,000,000 when so many people want to buy Bitcoin. But we don't know if they're sold his coins or the millionaire want to buy Bitcoin, it's only your analogy.

[qwertyup23]

I think the question is somehow relative- like the concept of a millionaire depends upon the social status and economy of a person in his respective country.

To put you into perspective, 1 BTC in my country (Philippines, a third-world country) can yield you basically a good condominium unit. You can be considered as a 'millionaire' if you have 1 BTC in my country. But, a person living in first-world countries (e.g. USA, etc.) can be a different story as 1 BTC there can purchase you something that is relatively lower.

Though, I do agree with you that if a person HODLs at least their BTCs, you can acquire and take advantage of its volatility for maximum profit.

[batang_bitcoin]

And think of it that a few of those millionaires are aiming to hold not just thousands but millions of bitcoins. This is applicable for those companies like Microstrategy.
They doesn't seem going to stop buying and would like to hold a lot of bitcoins and that's a firm decision that they will be holding in the future without any definite decision until when they're going to hold.

[goldkingcoiner]

This giving the rich a better chance to be richer, and not to the middle class nor poor.
Ain't this a threat to the future ? Cos I believe, 80% of Bitcoiner's are big time holders.

Thoughts please.
Thank X

You are severly underestimating the intellect of these new-age Bitcoiners. Most of them got into the game a year or two ago and have no idea what is going to happen or what they are doing. Most of them are still "day-trading" their profits away satoshi by satoshi. 80% is absolutely too high of an average and 50% is too high as well. If I had to guess, I would say maybe 25% are true hodlers. At most. (Not counting investment firms)

Most people have itchy and shaky hands and can't step away from the charts for even an hour.

[mk4]

Bitcoin was never created to solve the wealth gap. A rich person will always get richer if he/she does well, and a low/middle class person will always stay in their place if they don't outperform others.

And yes — if it's the case that every millionaire finds out the importance of bitcoin then all of them will have a good amount. Now, it's your job to be smarter and get in before them if you actually think that bitcoin could be bigger in the future.

[Cookdata]

those who are having bitcoin's have a bright future bcoz it is one of the top most business activity and ledging business in todays and futre generation .lot of surveys says that have huge future to bitcoin holders and traders in this digital world  I do agree with you that if a person HODLs at least their BTCs, you can acquire and take advantage of its volatility for maximum profit.

Do they have advantages because it will help them pump their few dollars or because it protects wealth against the original inflation we have been fighting worldwide? There are other firms that have invested billions of dollars in other assets as a hedge against inflation and are doing well without owning bitcoin.
The thing is, bitcoin beat other assets in many ways but has in own flaws too and having a single UTXO of it as an investment is one of the best decision anyone would make today, nobody knows what tomorrow will tell but sure it has a way increase in price by virtue of its demand and supply.

[Ararbermas]

Well we have different perspective and for me IMO for sure there are some millioners that will choose other investment than crypto currency,  for example stocks, real state and etc. Because you know obviously bitcoin isn't backed by anything unlike other investment.. So i don't think most millioner investor will gonna rely on bitcoin especially when it comes long term.

[avikz]

A lot Unknown, that's why I ask a lot of questions.
With over 50 million millionaires across the globe and 21 million BTC , what happens when every millionaire out there gets 1 BTC ?
Half of the 50 is 25 and they can all get the 21million BTC.

This giving the rich a better chance to be richer, and not to the middle class nor poor.
Ain't this a threat to the future ? Cos I believe, 80% of Bitcoiner's are big time holders.

Thoughts please.
Thank X

If you are trying to point out wealth distribution inequality in bitcoin ecosystem, then it's correct! A lot of rich people do hold multiple bitcoins and they have no plans to sell them immediately. Because they understand the math that there can be only 21 million bitcoins. So they are all betting big on the scarcity factor.

Bitcoin is not here to solve wealth distribution inequality issues. Neither it can solve the poverty issues. It has just opened a new window of opportunity and other cryptos are jumping into the bandwagon. People who are interested in this market, are making money!

[Imran232]

<......................>

Well, you have some really interesting thoughts. But we have to remember that there are some big wallets that have been inactive for a long time, and one of them is Satoshi Nakamoto. And if all of those wallets are no longer active, the total supply has already been reduced.And this calculation already gives a hint that bitcoin will cross a million dollars easily. If your calculations and thoughts are right, Then yeah, millionaires can reach this asset for more than a million dollars' worth. Buy what you say that the rich will become richer and the poor will remain poor. But it is the rules of the world. No matter if it is the bitcoin world or the general world, the rules stay the same. But we have to remember that Bitcoin has already made lots of people rich in this world. That's what I believed. Thank you.

[noorman0]

-snip-
Half of the 50 is 25 and they can all get the 21million BTC.

Then, what about the remaining 20 million millionaires? Don't care about bitcoins?
No, this scenario would never happen. Millionaires have their own way of playing a business. After all, if a millionaire just holds the entire supply of bitcoins means there are no more transactions in the blockchain. At that time maybe the miners will stop their activities, because bitcoin has stopped functioning as a means of payment.

[cryptoperkele]

This giving the rich a better chance to be richer, and not to the middle class nor poor.
Ain't this a threat to the future ? Cos I believe, 80% of Bitcoiner's are big time holders.

Where did you get an impression that bitcoin would solve this in the first place? If anything bitcoin / blockchain tech will render some old jobs obsolete and some people will have to re-educate themselves to get jobs. It has made few people financially secured for sure, but speculation isn't supposed to be the main point of the tech.

[aoluain]

Bitcoin was never created to solve the wealth gap. A rich person will always get richer if he/she does well, and a low/middle class person will always stay in their place if they don't outperform others.

And yes — if it's the case that every millionaire finds out the importance of bitcoin then all of them will have a good amount. Now, it's your job to be smarter and get in before them if you actually think that bitcoin could be bigger in the future.

Contrary to what many people want or believe, not everyone can be equal
in terms of financial wealth. Its difficult to see people around the world living
in squalor while the likes of the Russian Oligarch's exist with an obscene amount
of wealth but imagine all the wealth in the world was divided equally out we would
end up eventually right where we are now.

There simply isnt enough Bitcoin to enable every millionaire to own 1, by the time
they all realise this it will be too late for them.

Get 1BTC, HODL and deny one less millionaire!

[kaya11]

A lot Unknown, that's why I ask a lot of questions.
With over 50 million millionaires across the globe and 21 million BTC , what happens when every millionaire out there gets 1 BTC ?
Half of the 50 is 25 and they can all get the 21million BTC.

This giving the rich a better chance to be richer, and not to the middle class nor poor.
Ain't this a threat to the future ? Cos I believe, 80% of Bitcoiner's are big time holders.

Thoughts please.
Thank X

Well you have a point and if that happens, we won't be having anything anymore. Good thing it is still 18m and counting, or else if those millionaires come to sense and bought one Bitcoin, then the price won't be the same as you portray it. It will be sky rocketing as it will alert other millionaires that another of their pals are raking Bitcoin.

[bittraffic]

Not everyone will get 1BTC even today when a millionaire can still consider it cheap. There is always going to be someone who will sell though. A fraction of BTC is still BTC or there is always ETH or whichever altcoin is preferred. It's a free market where anyone can buy, I wouldn't be worrying about the millions of millionaires if they are not buying BTC, their $millions is not mine anyway.

[verita1]

What the OP says has little chance of happening. Because for that to happen, Saylor, Musk, Bukele, Sam Bankman-Fried, Chris Larsen, Barry Silver, Tyler, and Cameron Winklevoss, to name a few, would have to sell their bitcoins, and that won't happen.

There is a race to see who accumulates the most bitcoin, we already know who has the most and he has shown why bitcoin is important for humanity. Despite the current moment, we have good news around bitcoin, which tells us that it will be for everyone.

[Lucius]

With over 50 million millionaires across the globe and 21 million BTC , what happens when every millionaire out there gets 1 BTC ?
Half of the 50 is 25 and they can all get the 21million BTC.

Data for 2021 show that the number exceeded 56 million, and only a few years ago I remember a similar thread in which there was a debate on the same topic, only the number of millionaires was 46 million. What you think is realistic is far from it, because every millionaire will never want to have 1 BTC, just as every millionaire doesn't have an expensive yacht, a $10 million house, and an expensive car.

Bitcoin has been around since 2009, and currently on crypto exchanges there are millions of BTCs available for sale - I don’t see millionaires interested in buying it. Being rich does not necessarily mean being intelligent, and Bitcoin is for a little more intelligent people who understand a little more than how to push a credit card into an ATM and type in a PIN.

This giving the rich a better chance to be richer, and not to the middle class nor poor.

Most rich people have enough money, you don't have to be afraid that they will buy Bitcoin to be even richer - of course some will, but that number will never be 100% - it might be more realistic to say that number will be maybe 10%.

[tyz]

A lot Unknown, that's why I ask a lot of questions.
With over 50 million millionaires across the globe and 21 million BTC , what happens when every millionaire out there gets 1 BTC ?
Half of the 50 is 25 and they can all get the 21million BTC.

This giving the rich a better chance to be richer, and not to the middle class nor poor.
Ain't this a threat to the future ? Cos I believe, 80% of Bitcoiner's are big time holders.

In your calculation something very important is not considered. On the one hand, there are currently only 19 million Bitcoin (2 million still need to be mined) and on the other - which is almost more important - an estimated 3-4 mln Bitcoin are "lost", i.e. the private keys have been lost over the years, so that they are virtually not accessible. So you have to reckon with currently available 15-16 million Bitcoins.

[AicecreaME]

those who are having bitcoin's have a bright future bcoz it is one of the top most business activity and ledging business in todays and futre generation .lot of surveys says that have huge future to bitcoin holders and traders in this digital world  I do agree with you that if a person HODLs at least their BTCs, you can acquire and take advantage of its volatility for maximum profit.

I agree with you.

Those people who are trusting into Bitcoin's capability now despite its price fluctuations over the past months will definitely reap the fruit of their patience and trust in the following years. Bitcoin has been competitive and really moving in aggressive manner over the years. No doubt, it will fluorish even more after some time.

Holders of bitcoin will profit maybe not now, but after a while. Long term investors shouldn't worry much and just patiently wait until its price satisfies them. Personally, I believe that we can really take into our advantage bitcoin's volatility despite it being off to some. But still, it's recommended to have other streams of income and not just rely on one, so while waiting for the massive pump, let's have something to look after to.

[AakZaki]

It's not going to be that easy concept. Rich people are no guarantee of getting richer when buying bitcoins for millions of dollars. The price of bitcoin fluctuates and some rich people certainly don't fully understand bitcoin. Bitcoin was not created to solve the problem of economic inequality. If a poor man who only had $10 was aware of bitcoin and bought it at the beginning when bitcoin was still for pizza he would surely be a rich man if he held it in until now. Bitcoin provides opportunities for everyone, not just the rich.