bitcoinprophetmohammad (OP)
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August 23, 2024, 10:55:45 PM |
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Will owning 1 btc make generational wealth?
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franky1
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August 23, 2024, 11:06:24 PM Last edit: August 23, 2024, 11:21:17 PM by franky1 |
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if you had a kid today and sold your 1BTC($64k) and put the fiat into stocks/shares at a 8% interest by the time your child was 20yo the investment would cumulate to $276k which you can then pay them $22k a year and keep the $276k capital
however holding bitcoin as bitcoin for 20 years could yield ALOT more.. suggestions say the speculative window that the market can trade upto in the next market cycle could be more then $276k in just a year+
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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goldkingcoiner
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August 23, 2024, 11:07:05 PM |
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Will owning 1 btc make generational wealth?
If Bitcoin goes up, as it is supposed to, then yes it will. Reminder: Bitcoin is deflationary money. Only 21 million coins will ever be created; This means the more demand there is for BTC, the more Bitcoin will be distributed in the world. And greater demand will drive the price up for each tiny piece of that distribution. And demand for Bitcoin has been growing steadily over the years.
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Ever-young
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August 23, 2024, 11:16:55 PM |
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How you hold and handle that one bitcoin will determine how much it will generate for your next generation. If you can hold it for that long till the price passes this face till your next generation takes over, which I'm sure will be more than a decay, the price by then will definitely be something worth keeping a small family generation going. How they manage it will then determine how long it will serve.
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Myleschetty
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August 23, 2024, 11:38:55 PM |
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Will owning 1 btc make generational wealth?
I believe that 1BTC could be enough to make generational wealth, but it may not be sufficient based on your geographical location. If you're from the US it is not enough till the whole 21 million coins are in mined but if you're from Asia, and Africa. Yes, it could be enough for generational wealth. Despite all this point of view, the dream of every Bitcoin investor is to have a whole BTC that 1BTC among the total 21 million BTC.
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Davidvictorson
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August 23, 2024, 11:53:36 PM |
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Yes, it is all based on speculation that bitcoin will go up. And no one can tell you really whether it will or will not. From observation all the folks who have make a lot of money from bitcoin holding for years did it out of very strong and determined personal conviction. One guy on reddit put his owe savings in bitcoin 11 years ago out of personal conviction. Do your homework and follow your personal conviction on creating generational wealth via bitcoin. I am yet to see anyone who had personal regrets in going all in in bitcoin. Some basic questions to ask yourself, what was the price of bitcoin 5 years ago and what are the predictions of bitcoin in 5 years? What are companies and government outlook on bitcoin? These questions and more will help you.
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PX-Z
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August 23, 2024, 11:54:39 PM |
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Will owning 1 btc make generational wealth?
Yes it will, in 20-30 years later bitcoin will probably double or might even more times this $60k current price. So your future kids will gain and receive more than the current bitcoin price. The question is, if you still hold the recovery seed on such very long period of time without lossing them or etc.
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Adbitco
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August 23, 2024, 11:58:20 PM |
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Will owning 1 btc make generational wealth?
When talking about generational wealth is not about 1 bitcoin so to me one bitcoin can't make a general wealth coupled with the price currently. To me generation wealth is a wealth that can not be exhausted by your children, or your children children upto the 4 to 5th generation are the kind of wealth i assumed to be called a generation wealth. But however, one needs at least 100 to 10k bitcoin to say they have a generational wealth if carefully and properly being used. What creates a generational wealth is a running real estate, shares in a company as well having some thousands of bitcoin. But say one bitcoin, except you won't temper the investment for the rest of your life.
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Fivestar4everMVP
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August 24, 2024, 12:12:31 AM |
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Will owning 1 btc make generational wealth?
Honestly, it is possible, very very possible, but This is in general term or level though. If we are to bring it down to individual levels, I would say that this completely depends on what or an amount an individual considers as a generational wealth, like for example, some may consider nothing less than a million dollars as a generational wealth, while for some people, even the current price that 1 btc is at currently is already a generational wealth if only they can have it. For me in particular, any amount above a hundred thousand dollars is a generational wealth, this is very achieveable for 1 btc, so if somehow, I can get up to 1 btc and hold it until it's worth that amount, I consider myself generationally wealthy though I may even hold it for much longer.
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BitcoinBarrel
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August 24, 2024, 12:26:33 AM |
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Owning and holding any type of limited asset that appreciates in value will create generational wealth.
It doesn't matter what it is... cars, antiques, art, stocks, crypto, land, property.
Just buy and hold! Most importantly, be patient and wait for good deals. Only sell at a profit. That's how you create wealth.
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Ale88
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August 24, 2024, 01:11:57 AM |
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Will owning 1 btc make generational wealth? Technically everything you leave to your kids is considered "generational wealth" but I guess you are referring more to huge amounts of money. In that case, I don't think so, at least not during our lifetime, maybe it could be for our nephews. Let's consider a couple of things for your scenario: the value that 1 BTC should reach in order to make generational wealth, and from there we should think about the total BTC's market cap which would be pretty insane. Last thing, let's not forget inflation because maybe some day we'll have 1 BTC = $1 million but at the same time an average car could cost $100k...
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SatoPrincess
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August 24, 2024, 02:45:09 AM |
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1btc is currently trading at $63,860 if you hodl your bitcoins for long term it will yield more gains. Bitcoin can create generational wealth but if your kids are not smart they will lose it. Imho generational wealth goes beyond having assets you can leave behind, for a family to sustain their wealth in the future the parents have to teach the children fundamentals about money and personal finances as part of the family values. So whether it is real estate, bitcoin, or stocks, maintaining generational wealth will depend heavily on the financial education of your heirs.
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yhiaali3
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August 24, 2024, 02:55:14 AM |
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Yes, owning 1 Bitcoin can create wealth for future generations in my opinion according to the fact that Bitcoin is a deflationary currency and its price increases over time and Fiat is an inflated currency and its value decreases over time.
So whether you keep 1 Bitcoin for 10-20 years or sell it and buy shares and get annual returns, it is very likely that you will be able to get wealth after one or two generations.
Also, given the huge inflation in some countries - including my country - it can be said that 1 Bitcoin is considered wealth now and not after generations.
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SilverCryptoBullet
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August 24, 2024, 03:50:48 AM |
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Will owning 1 btc make generational wealth?
Owning it is not enough, it need a big condition: holding it for a long time enough to get high ROI and build up wealth with Bitcoin. If history repeats its rhythm, Bitcoin will give the youth good ROIs if they can own and hold bitcoins. Bitcoin & Traditional Assets ROI (vs USD)https://casebitcoin.com/Time | Bitcoin | Gold | S&P500 | _________ | ______________ | ___________ | _________ | 1 year | +146% | +31% | +27% | 2 year | +198% | +44% | +34% | 3 year | +33% | +40% | +25% | 4 year | +454% | +30% | +62% | 5 year | +523% | +63% | +95% | 6 year | +842% | +108% | +96% | 7 year | +1,372% | +94% | +130% | 8 year | +11,060% | +90% | +159% | 9 year | +28,271% | +124% | +186% | 10 year | +12,368% | +96% | +181% | 11 year | +54,160% | +77% | +245% | 12 year | +593,736% | +50% | +299% | 13 year | +711,718% | +40% | +371% | 14 year | +99 million% | +103% | +433% | _________ | ______________ | ___________ | _________ |
This ROI table is like a slap to Peter Schiff.
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Wexnident
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August 24, 2024, 04:25:28 AM |
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Will owning 1 btc make generational wealth?
If we assume that Bitcoin price continues to grow, then yes, it definitely can. It also depends on the when though since there's a difference in buying it at $10k and seeing it grow to $1M compared to buying it at $900k and seeing it grow to $1M. Pretty obvious though since it's always early investors that profit by a h uge amount compared to late ones. I'd still buy Bitcoin even if it doesn't make that much though. It's at the very least going to let you profit anyway, big win already imo.
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Apocollapse
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August 24, 2024, 04:49:41 AM |
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Let's be realistic, 1 BTC isn't enough to make you rich, even in third world countries. I think for third world countries, you need to have $1 Million or 15.6 BTC, for second world countries you need to have $5 Million or 78 BTC, for first world countries you need to have $10 Million or 156 BTC in order to achieve financial freedom. if you had a kid today and sold your 1BTC($64k) and put the fiat into stocks/shares at a 8% interest by the time your child was 20yo the investment would cumulate to $276k which you can then pay them $22k a year and keep the $276k capital
Isn't that simple. You need to pay from $22K a year capital gains, which is 11% for short term capital gains tax. So you only have $19.5K, we shouldn't forget with the inflation rate too, $276K capital today isn't same to $276K capital in the last 20 years. On paper your investment grow 4x times, but in purchasing power your investment only grow 1.5x times. $19.5K a year in US is small, imagine you've invest for 20 years, but you still not able to live from your investment. https://ofdollarsanddata.com/sp500-calculator/
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Poker Player
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August 24, 2024, 05:17:47 AM |
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Owning and holding any type of limited asset that appreciates in value will create generational wealth.
It doesn't matter what it is...
Owning it is not enough, it need a big condition: holding it for a long time enough to get high ROI and build up wealth with Bitcoin. If history repeats its rhythm, Bitcoin will give the youth good ROIs if they can own and hold bitcoins.
That's the thing, for it to be generational what you have to do is not spend it and be able to pass it on to your descendants. Normally that is easier to do with large amounts of capital, and for the specific case of Bitcoin it would be to buy at least one now, or have it before and be able to hold it to pass it on to your descendants when you die. Let's be realistic, 1 BTC isn't enough to make you rich, even in third world countries.
I think for third world countries, you need to have $1 Million or 15.6 BTC, for second world countries you need to have $5 Million or 78 BTC, for first world countries you need to have $10 Million or 156 BTC in order to achieve financial freedom.
But what is important here is not the price now, but the value it may have in the future, net of inflation, of course.
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mindrust
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August 24, 2024, 05:19:12 AM |
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Possible but that doesn’t mean you should sell everything you got just to buy 1 btc and wait. You still need some cash generating assets like stocks and real estate. Otherwise you’ll have to sell your bitcoins to generate cash in order to pay your rent. Bitcoin is still volatile too and that means you may have to sell your coins when the price is very low if you go all in on btc. If you don’t have a job with a good salary, you should probably fix that problem first.
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kryptqnick
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August 24, 2024, 05:34:34 AM |
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Of course, nobody knows for sure. It's possible that Bitcoin will continue growing over time, just not at a pace of the first decade of its existence. I do believe that Bitcoin can reach $500k, even $1 million within our lifetimes. That kind of money is very significant in many parts of the world, but it's not impossible to spend. So whether it becomes generational wealth depends on one's spending habits.
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lovesmayfamilis
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August 24, 2024, 06:34:39 AM |
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OP, if we rely on your first topics on the forum, then you don't need our advice at all. You have your strategy that cannot be persuaded. But I am somewhere in the middle. I cannot boast about such prices as you predict shortly, but I completely agree that it makes sense to hold as many bitcoins as possible and buy them when possible. The fact that you still need more opinions since the same question appears to you again will be a good analysis for your decisions in the future.
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