If someone holds 1 bitcoin in 2023, can he call himself rich ?

[Darker45]

Rich is a very general term. What's rich for you? It's also relative. If you're a citizen of Burundi, for example, you can certainly consider yourself rich if you have 1 Bitcoin. If you're a resident in my country, you may not be rich, but you're definitely not poor. But if you're living in Singapore or in New York, that's certainly not much. You're not rich. That amount can't even build you a decent house. You probably still need to wake up every morning to go to work.

Anyway, to further illustrate my point, I recommend you to take time and enjoy reading these 3 interesting threads:

• What can 1 Bitcoin buy in your country? by LoyceV
• Is there a place in the world you could live like a king via sig campaigns? by The Sceptical Chymist
• Days you need to work your ass at minimum wage for a BTC, by country by stompix

*For images that don't show, you can click the quote button on the post and get the link. Open it on another tab.

[Fuso.hp]

We are in late 2003 and the way the market is currently growing, it looks like the Bitcoin market may touch $50,000 very soon. Everyone is talking about investing in Bitcoin from late 2022 to mid 2023 and experts are commenting that the price of Bitcoin will increase significantly between late 2023 and mid 2024. The price of Bitcoin went from $32,000 to $35,000 in a matter of hours and is now hovering around $34,000. Naturally, those who bought 1 BTC amount or more in 2022 or early 2023 have made huge profits today. Many people who invested large sums of money when Bitcoin was worth $17,000 can be called successful investors today.

[mamesso]

The definition of rich depends on each individual, other people will judge whether someone is rich or not based on the reciprocity of the assets they own. The concept of richness is very broad, some people define richness by various possessions owned by other people, wasting money on unnecessary needs and having lots of luxury items.
People who have limited capital and are just starting to invest in Bitcoin will call you rich because you have one Bitcoin, they also want success like you so they can collect one Bitcoin. If you look up, there are still many people who are richer than you, but if you look down, you will be called rich by people whose level of wealth is lower than you.

[DapanasFruit]

If someone holds 1 bitcoin in 2023, can he call himself rich ? If not, how many bitcoins holding is equal to being rich in your opinion ?

You should know the parameters for the concept of being rich. Like, here in my country, you must have many properties and must have enough liquidity to be termed as rich...and sometimes you have to be showy for your riches for others to think that you are one. The point is that being rich is a very subjective term. Now, having 1 BTC will not make you rich...maybe I am suggesting you HODL that 1 BTC for around 20 years who knows the price of that in 2043. As of press time, in my own personal estimate, you must have at least 50 BTC for me to call you "rich" and not anymore poor.

[LogitechMouse]

If someone holds 1 bitcoin in 2023, can he call himself rich ? If not, how many bitcoins holding is equal to being rich in your opinion ?

The term "RICH" is a very broad term.
A person in the street can claim that he's rich. I can also claim that I'm rich. A businessman who is successful can call himself rich. Anybody can say that they're rich. Like I said, the term "RICH" isn't only used in money, but in other concept of life as well.

Now to answer your question if having 1 Bitcoin this 2023 can make him be called as a "RICH" person, yes. I can call myself rich if I have 1 Bitcoin. It all depends on the person who are holding it. If you let Warren Buffet hold 1 Bitcoin, of course that will not make him say that he's rich because even though he don't have 1 Bitcoin, he's rich already. On the other hand, if an Average Joe, or how should I classify myself, maybe a middle income earner like me has 1 Bitcoin, of course I can call myself rich already knowing that our yearly income if being paid at a minimum wage is around $2,650. 1 Bitcoin is worth ~10 years of working time or even more.

Overall, being called as rich doesn't define by how much Bitcoins you have, but to answer your final question, for me I guess having at least 5-10 Bitcoin can make me rich, but TBH, I can call myself rich already even though I only have 1 Bitcoin or even lower.

[Arenga pinnata]

If someone holds 1 bitcoin in 2023, can he call himself rich ? If not, how many bitcoins holding is equal to being rich in your opinion ?

In my area, having 1 BTC seems to be enough to be called rich. But among the ranks of rich people there is also a ranking of its own. So for those who have 1 BTC, perhaps they can be said to be the lowest ranking rich person. Because usually the top rich people in my country even earn more than 1 BTC per day.

But if we live in a village or in a remote part of the country then I think having 1 BTC is enough to be called the richest person in that village area. I don't have 1 Btc yet but I hope someday I can have more than 1 BTC.

But in developed countries having 1 BTC may only be considered an ordinary person and not a rich person. But in developing countries having 1 BTC would be enough to be called rich. but in each country it may be different.

[yazher]

Actually, it depends on where you are residing because, in some parts of the world where essential needs are not expensive, you are actually a millionaire when you have that amount of money and you can survive there for a long time or maybe get old with no problem of looking for a job to support yourself. Here in our country, you can survive with that for another 10 years with just minimum spending and that's what I like about bitcoins, you don't need to show people that you have some money with you, just get what you need and keep your bitcoins in your personal wallet as long as you want.

[Blitzboy]

If someone holds 1 bitcoin in 2023, can he call himself rich ? If not, how many bitcoins holding is equal to being rich in your opinion ?

The term "RICH" is a very broad term.
A person in the street can claim that he's rich. I can also claim that I'm rich. A businessman who is successful can call himself rich. Anybody can say that they're rich. Like I said, the term "RICH" isn't only used in money, but in other concept of life as well.

Now to answer your question if having 1 Bitcoin this 2023 can make him be called as a "RICH" person, yes. I can call myself rich if I have 1 Bitcoin. It all depends on the person who are holding it. If you let Warren Buffet hold 1 Bitcoin, of course that will not make him say that he's rich because even though he don't have 1 Bitcoin, he's rich already. On the other hand, if an Average Joe, or how should I classify myself, maybe a middle income earner like me has 1 Bitcoin, of course I can call myself rich already knowing that our yearly income if being paid at a minimum wage is around $2,650. 1 Bitcoin is worth ~10 years of working time or even more.

Overall, being called as rich doesn't define by how much Bitcoins you have, but to answer your final question, for me I guess having at least 5-10 Bitcoin can make me rich, but TBH, I can call myself rich already even though I only have 1 Bitcoin or even lower.

What you say about the word "RICH" is interesting. What each person thinks of as "rich" is very relative and unique, right? If you say that having one Bitcoin in 2023 makes someone rich, thats a very narrow view. We shouldnt hold Warren Buffet and the average Joe to the same level of wealth. This is about more than just that, though. If how rich something is just depends on your point of view, then the value we give to things like Bitcoin is also subjective.

Lets get to the heart of the matter more. If exactly one Bitcoin is worth ten years of work for a minimum wage worker, then getting that one Bitcoin is like getting ten years of their time back. In a lot of ways, time is more important than money or cryptocurrency. Still, you say that 5–10 Bitcoin can make you feel rich. That tells me you're not just after a number; you want the security, freedom, and power that come with having that much value. Not the Bitcoin itself, but the life it stands for.

[YUriy1991]

Judging richness is relative, it depends on the principles you judge it from, and several other supporting things. Put it this way, a comparison of two people in a drought-stricken country: someone who only has an old, active well will be considered richer by those around him than someone who has 1 ton of gold.

Right, from which point of view we stand and look. The example in which the tone is conveyed is also very rational. If OP means that if we had bought BTC at yesterday's lowest price, for example just 1 BTC at $16,500 at the beginning of 2023, today there would have been a significant profit, not to mention if it was in early 2024, although in reality it cannot be guessed exactly how much. But, today BTC has proven that BTC has been a safe and profitable choice from the start when invested.

[Poker Player]

Everyone can call themselves whatever they want, it is another thing if what they call themselves has more or less to do with reality. As already mentioned, the answer to the OP's question is relative, but I would like to clarify that this is as of today. Let's wait a couple of cycles or three and I think there will be no place in the world where someone holding an entire Bitcoin won't be considered rich.

[michellee]

The answer is relative to @OP. In some countries, owning 1 Bitcoin can be considered rich. They can buy various goods and still be able to support their families in the long term. That's because the price of Bitcoin, which has reached $34k, is very large in their country.

They can use it for various things. People must have more than 10 Bitcoins before being considered rich. Otherwise, they could be considered as people who were below the rich and were on their way there. And everything will depend on what the price of Bitcoin is. Maybe in the future, people who own Bitcoin will be rich.

But I don't want to call myself rich because that would make me a target for bad people. It's better not to say things about Bitcoin to people so we can be free to go wherever we want.

[Strongkored]

If someone holds 1 bitcoin in 2023, can he call himself rich ? If not, how many bitcoins holding is equal to being rich in your opinion ?

It will really depend on which country he lives in and how old he is, if he is a citizen of a prosperous country then having 1 Bitcoin is normal, especially if he is still young and has a lot of income but if he is a citizen of a poor or at least developing country and he is older entering retirement then he can be said to be rich because I am quite sure that people who live in poor countries and are old enough will face difficulties in being able to have savings or investments worth tens of thousands of dollars, even when they are still young and have an income, there is a big possibility it is still difficult to meet his living needs, so tens of thousands of dollars might be very big and could make him one of the richest people in his area but the opposite could happen in other areas.

[panganib999]

Depends on where you live, how hard it is to live in your country economically, and other financial factors. To some people a bitcoin is worth a million of their local currency, which makes them effectively a local millionaire, and makes their money that valuable from where they live. Coincidentally, when you live in a country like USA per se, the money is still worth something but it's definitely not enough to call yourself rich. It's all a very subjective matter when you come to think of it, and for the most part the only thing that really separates you from being a millionaire is where you live. In the Philippines that's more than a million pesos, in Iceland, that's not even worth a hundred thousand.

[Cvetik56]

Of course not. Not even when it gets to $100k. 30-40 BTC will be enough to call yourself rich in the future, but not right now.

[Publictalk792]

It depends on one's definition of rich as there is no set amount of bitcoin that guarantees wealth. However with the potential increase in bitcoin value.
By the way I don't know holding 1 Bitcoin in 2023 will decide your richness or not. But I will say that this will be a good investment for coming years and this will make you rich in future.

[bakasabo]

I think no one holding only 1 BTC is ever going to be rich. 1 BTC is 34k USD or around 2.8k as a monthly salary. 3k USD is a good European salary that allow yourself to feel free or independent. But that is far from being rich. I would say that holding 1 BTC will only allow to person to live 1 year without bothering much. 34k is not enough to make an investment that will change your life or start a business. Even though "rich" has rather relative meaning, 1 BTC is not enough to be rich.

[terrific]

I think no one holding only 1 BTC is ever going to be rich.

Unless it becomes $1M per Bitcoin then everyone that holds at least 0.1 bitcoin can be said the start of being rich up to being outright rich.
But we're not yet there and the others telling that it depends on where you are residing is true. $30k can be that much in third world countries but not in first world countries. Anyway, I don't think that there's much difference anymore because of the high inflation rate.

[bluebit25]

If someone holds 1 bitcoin in 2023, can he call himself rich ? If not, how many bitcoins holding is equal to being rich in your opinion ?

Perhaps looking at the issue of wealth beyond the scope of material things (money), it also includes other intangible things that we accidentally forget such as intelligence, health, spirit,... Evaluating an individual based on their assets to conclude wealth is a lame comparison in many places. I think it would be similar to the fact that your spending in a luxury city like New York would be completely different from Monrovia Liberia, and this appears on a global scale, making it even more difficult to give a convincing answer. But considering the logic, if you own BTC and have access to investment, it is always an opportunity for you to have a life with more money.

[naira]

If someone holds 1 bitcoin in 2023, can he call himself rich ? If not, how many bitcoins holding is equal to being rich in your opinion ?

Until now I don't know the benchmark for someone who is rich
 makes it so important. Yes, 1 BTC can be considered rich or not. But is it important? I, who only hold a few sats, am very proud of what I have achieved. Even though in the eyes of other people it can't be called rich. Because the fact is I don't care at all. 1 BTC and holding it for the next 10 years will prove everything.

This morning I woke up to see the price of Bitcoin rising significantly in a short period of time after several attempts to break through the resistance line. In the midst of crises and conflicts, Bitcoin has become a safe storage option. We continue to get positive news so for those who have held 1 BTC this year I congratulate them.

[rodskee]

If someone holds 1 bitcoin in 2023, can he call himself rich ? If not, how many bitcoins holding is equal to being rich in your opinion ?

                                                        if this is for me? sure that I am completely a rich person ..
                      and also nowadays it is not that easy to gather that such amount because like now that bitcoin amounting
30k and above , this is a 5 months Salary from my end if i will work of having this meaning making 1 bitcoin this year and will wait
till 2024-25? for sure I will be rich person(at least in my country )and what more if we can keep holding till next halving (the one
next to 2024) that many thinks or predict bitcoin will surely cross 6 digits and if lucky up to 7 digits?

                             many of our Bitcoin holders have only small part of Bitcoin in their wallets now
because we have just crossed the 2019 Pandemic and admit it that majority of us have spent their holdings because of that said
worldwide Nightmare.but definitely I am rich at least for my own belief  and living.