Can owning 1 Bitcoin make you rich in 2023?

[MIner1448]

Bitcoin may provide an opportunity for financial freedom, but it depends on many factors. Financial freedom in the context of Bitcoin means that you have complete control over your funds, you can use them however you like, not limited by the rules of banks or governments.
Finally, financial freedom does not mean that you can just sit back and wait for the money to come. It takes effort and work to manage your funds and use them to reach your financial goals.

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[MiF]

In my country owning 1 bitcoin can make us millionaire, it is 1.6 million pesos so if we have one bitcoin here we own millions of peso it can make us reach in year 2023 the problem is how to earn 1 btc that was a big problem this time, if only we know that btc will reach this far from year 2010 then we surely buy it before and hold it till today.

[Kaliandra]

investing in bitcoin is of course very risky and will not guarantee 100% investment in bitcoin will be rich, because it could be that our bitcoin investment will be a loss and it is not impossible for people who are initially rich to  poor if rich people invest all their wealth in bitcoin.
that's why investing in btc must use idle money,
and should  a small part of our treasure.

In my opinion if you hold 1 btc you can get rich as long as you hold it for 20 years or more.

[ancafe]

When I understood the true potential of Bitcoin. I joined this forum as I am not someone who can spare the money required to invest for 1BTC.

The DCA pattern is a great strategy for you to implement, not only are you unable to invest 1 BTC in the near future, but almost a lot of people on this forum are having the same problem.

So one of the opportunities that you can apply is the DCA pattern, it's basically not how much money you have, but how far you are ready to invest, bitcoin has provided a lot of evidence for long term investment and I hope you don't miss this opportunity.

So, my question is can Bitcoin give a life that I dreamt as a child. Is it possible to gain financial freedom? What exactly does financial freedom means in context of Bitcoin?

Financial freedom lies not in how much money you have, but how exactly you use money to continue to make a profit, by taking the right opportunities and investing according to the strategy, then financial freedom will bring you to the stage of perfection. Bitcoin is one way that will bring you to the stage of financial perfection.

In this context bitcoin is one way that you can take advantage of, because bitcoin is able to maintain the value of the investment you are running.

[cheezcarls]

It depends on how much did you buy and what price did you begin. Like if you have bought it when BTC was tanking around $17k, you could have made a sweet profit today as it was now $30k+.

As for me, at least it break even the price that I have bought in the first place. In my first few months of doing DCA, the price that time was exactly $30k before it tanked hard thanks to the Terra Luna, FTX, etc.

Now I am just holding my BTCs and wait for it to skyrocket once again. I’ll keep holding and see the effect of the next halving which is a year from now.

[Woodie]

I came to know about Bitcoin as everyone here did it was from my friend. I was living as usual a life controlled by the government and its banks. I was not angry about my life, still I had the anger to be someone who can succeed.

I had somewhat good childhood but I always saw my parents struggling to get those fiat. It did saddened me as I saw my parents living a routine life and still did not enjoy it.

Now I know why they were always struggling to get the ends meet. I do not.know whether anyone here can relate to the same experience of my parents

Sorry to say buddy but one of the elements of money is to be scarce and it will always be like this.. the only difference other's seem to have it easy is by investing in themselves to be able to get paid well using their expertise in their fields.

When I understood the true potential of Bitcoin. I joined this forum as I am not someone who can spare the money required to invest for 1BTC.

Hope you are enjoying  your stay here...

So, my question is can Bitcoin give a life that I dreamt as a child. Is it possible to gain financial freedom? What exactly does financial freedom means in context of Bitcoin?

# Please ignore my typo and spelling mistake.

Thanks!

No, No, No...I think many of us have that wrong picture of bitcoin money growing  on trees and we all know this is far from the truth.
In todays world, to make money you need money things won't happen automatically,  we have to make things happen ourselves...

Can owning 1 Bitcoin make you rich in 2023?

Rich no, thats the price of a nice representable car but maybe in other parts of the world this could count but still i think rich isnt the world for owning 30k maýbe if one had 21 bitcoins in these said countries it could coùnt.

[Nrcewker]

Op you need to properly define, how much money can be considered as “rich” according to you? For many people the definition of rich will differ. So yes its really debatable that, with how much money, a person can be satisfied and can consider himself as rich. Bitcoins will no doubt increase your wealth. The reason for this is very simple, as Bitcoins are limited in numbers and the demand for the coin is increasing day by day. So if you own one Bitcoin in 2023, then definitely by 2025, you can see 3 to 5 times the profit. Now everything is subjected to market conditions and to be honest anything and everything can happen.

[isaac_clarke22]

~

You don't need a whole 1 BTC to consider it as an investment. There might be gatekeepers out there that would say otherwise, but even a fraction is just fine. It's not really something that would truly give you financial freedom like you can get 3 lambos, since Bitcoin was not made for that way.

All in all, just invest what you are okay to lose. I keep buying whenever the price plummets, I don't really give a crap on how small I can afford to buy.

[Fiatless]

I came to know about Bitcoin as everyone here did it was from my friend. I was living as usual a life controlled by the government and its banks. I was not angry about my life, still I had the anger to be someone who can succeed.

I had somewhat good childhood but I always saw my parents struggling to get those fiat. It did saddened me as I saw my parents living a routine life and still did not enjoy it.

Now I know why they were always struggling to get the ends meet. I do not.know whether anyone here can relate to the same experience of my parents

My parents also struggled to raise us because the income of my parents is far below what they needed to raise us. So we had to struggle to survive but it became worst when one of my parent died. The reason why most household suffer is basically because of low income. Others suffer because of waste or overspending. Some people tend to spend on what they don't really need. The number of children in the family also affect how well the family will fair financially.    

When I understood the true potential of Bitcoin. I joined this forum as I am not someone who can spare the money required to invest for 1BTC.

So, my question is can Bitcoin give a life that I dreamt as a child. Is it possible to gain financial freedom? What exactly does financial freedom means in context of Bitcoin?

# Please ignore my typo and spelling mistake.

Thanks!

Financial freedom based on my perspective is the ability to afford all you need without taking loans or buying on credit. It is when you income or investment can afford you needs.  I don't know where you are based but 1Bitcoin is worth millions in my country's currency. If you can afford to buy one bitcoin, you are rich in my county. But buying one bitcoin is not a guarantee that you have attained the level of financial freedom. You might be able to attain that level if the price of bitcoin increases to a record high and you invest the profit you made on another business. But if the price remain the same or goes down your hope will be dashed.  

[qwertyup23]

This actually depends on the current status of a person.

Rich is a relative term that is completely dependent on several factors. For example, the value of 1 BTC to people who live in developed countries may be small as compared to the people who live in developing countries. As the cost of living varies per country, a person may feel rich if he owns 1 BTC if he lives in a developing country.

Personally, 1 BTC is something that can guarantee me at least a comfortable way of living. As someone who lives in a third-world country, every value counts and that also includes the price of 1 BTC.

[DeathAngel]

1 bitcoin is not going to make you rich, not for at least 10 years & that’s if you live in a less developed country. I think we can see $1,000,000 per bitcoin in the next 20 years but that’s not rich these days is it. My advice is just to keep buying sats, keep going until you are old. If you are only just getting into bitcoin now, you won’t get rich quick. You can make life changing money but it’s going to take a decade or two to be rich if you can HODL that long.

[traderethereum]

Many of us get and feel the same experience as our parents but we are given the opportunity to change our lives for the better than our parents.
And when you are already acquainted with bitcoin and try to own 1 BTC, I think it will make your life rich because the potential for future increases in BTC will be higher than now.
Getting financial freedom is possible for everyone especially if they can own BTC (a lot of BTC) because, with the increasing price of BTC, they can sell a small portion of BTC to make ends meet while they still have a large amount of BTC.
So the conclusion is that you can collect more BTC, the more, the better because you have a long term investment that can change your life later.

[Crypt0Gore]

investing in bitcoin is of course very risky and will not guarantee 100% investment in bitcoin will be rich, because it could be that our bitcoin investment will be a loss and it is not impossible for people who are initially rich to  poor if rich people invest all their wealth in bitcoin.
that's why investing in btc must use idle money,
and should  a small part of our treasure.

In my opinion, if you hold 1 btc you can get rich as long as you hold it for 20 years or more.

Both holding Bitcoin and staying alive in the next 20 years is not guaranteed, so I will only advise someone to hold Bitcoin this long if they are in very good shape, like have enough money they don't need because they are well paid or making enough money, either one of these, in the next 20 years we will see few bull market and bear market, my advice is to keep buying in a bear market and sell in a bull market, you will always have better profits to reinvest when bear market returns.

Bitcoin investment is always a cycle, you the cycle to your benefit.

[bosede1]

I don't know the life you dreamt of as a child but what I can tell you is that bitcoin is not a get-rich-quick scheme. Is just like buying a plot of land in a deserted area in the past 20 years and now the place has become a city definitely if you will sell that piece of land it will not be less than triple the amount for sale. If you have money, invest in Bitcoin just to secure the future.

[alastantiger]

First, having enough money to solve any problem at any moment, being in charge of your own finances, and having direct access to your money without requesting permission from anybody defines financial freedom.
Depending on how you define wealth, owning or purchasing 1 bitcoin demonstrates that you have already achieved it.
Secondly, bitcoin may or may not allow you to live the life of your dreams. Your ability to wait depends more on you than it does on the amount of money you put in living the life of your dreams. You may make the most money by holding onto your bitcoin for a very long time.
Although it is challenging, if you succeed, your profit will be realized.

[beerlover]

Both holding Bitcoin and staying alive in the next 20 years is not guaranteed, so I will only advise someone to hold Bitcoin this long if they are in very good shape, like have enough money they don't need because they are well paid or making enough money, either one of these, in the next 20 years we will see few bull market and bear market, my advice is to keep buying in a bear market and sell in a bull market, you will always have better profits to reinvest when bear market returns.

Bitcoin investment is always a cycle, you the cycle to your benefit.

I do agree that nobody should put money they can';t afford to lose, too many people do that and the result is always upset. I have heard news about people passing away or taking their own life because they made a loss. I am sorry but if you are risking more than you could afford that alone was the mistake and the price drop after that is not the issue, or when you boguht, or the timing, noen of that matters.

You shouldn't risk it to begin with and if you did that then you are on a wrong path. I personally know that bitcoin will go up if I buy right now, and even though I know that I am not forcing myself to buy more because I already have very little amount left for this month, so why would I risk that type of burden on myself.

[darkv0rt3x]

I'm not sure 1Bitcoin makes you rich. It depends on many things. How well accepted is Bitcoin in your community, how much your fiat currency worths, how much you appreciate Bitcoin, etc. In some countries you are ric with 27k€/$ and in other countries not so much.

[milewilda]

It depends on how much did you buy and what price did you begin. Like if you have bought it when BTC was tanking around $17k, you could have made a sweet profit today as it was now $30k+.

As for me, at least it break even the price that I have bought in the first place. In my first few months of doing DCA, the price that time was exactly $30k before it tanked hard thanks to the Terra Luna, FTX, etc.

Now I am just holding my BTCs and wait for it to skyrocket once again. I’ll keep holding and see the effect of the next halving which is a year from now.

Me im still on negative considering that i have bought on $46k until it did dropped as low as $15k as far as i remember but along the way i did make some DCA which im bit sure that im already on break even but well
as long you arent that selling on your position then it would be still considered as a total loss. Speaking about being rich then it would be entirely depending on how much you had been able to invest because
if you do only invest small then of course it would be normal that profits would be small but even if you do purchase a whole coin on 15k and with the current price of 30k
then it is x2 but its not something that you could make yourself that be called "rich".

[teosanru]

I came to know about Bitcoin as everyone here did it was from my friend. I was living as usual a life controlled by the government and its banks. I was not angry about my life, still I had the anger to be someone who can succeed.

I had somewhat good childhood but I always saw my parents struggling to get those fiat. It did saddened me as I saw my parents living a routine life and still did not enjoy it.

Now I know why they were always struggling to get the ends meet. I do not.know whether anyone here can relate to the same experience of my parents

When I understood the true potential of Bitcoin. I joined this forum as I am not someone who can spare the money required to invest for 1BTC.

So, my question is can Bitcoin give a life that I dreamt as a child. Is it possible to gain financial freedom? What exactly does financial freedom means in context of Bitcoin?

# Please ignore my typo and spelling mistake.

Thanks!

No, Bitcoin cannot give you that life. Bitcoin is merely a decentralised currency created to for paying across the globe with ease, how can a payment mechanism make your rich? It's basically the chance to invest in it that "might" make you rich. But obviously it's already too late to enter bitcoin party for earning millions from just rags. So don't expect financial freedom just like this. What I would suggest is work hard for something and try to get your payments in bitcoin, this will make sure you are investing 100% in it and when the price goes up you'll get benefit of that.

[blue Snow]

So, my question is can Bitcoin give a life that I dreamt as a child. Is it possible to gain financial freedom? What exactly does financial freedom means in context of Bitcoin?

That 2 last question I always hear many times here, and I always get and read the same answer for that. Again, it depends on you, sometimes The financial freedom is not as freedom as we think, we still need an exact rule to implement so as not to overdo it, So, Bitcoin is free, it can be owned by everyone on every country, there is no limit even if a government country prohibits it because you can still own it by custody wallet where you own the private key. And, if the government really watches it, you can still use decentralization exchange to pair fiat to bitcoin.