Saving 0.01 Bitcoin (BTC) could cost only $ 500 currently, but according to the current global wealth distribution and limited supply of the digital asset, 0.01 BTC could be enough to make someone a millionaire in the future.
According to him “Global Wealth Report 2020” Credit Suisse, there are 51.9 million people with a net worth that exceeds one million dollars. The index considers a person’s net worth, along with their financial and real estate assets, while subtracting their debts and liabilities.
According to the report, The US leads by a reasonably wide margin of 20.2 million, or 39% of the world total. China ranked second with 11% of the world total and Japan, the UK, France and Germany each comprised 5%.
The interesting thing is that despite representing only 1% of the world’s population (excluding children), these millionaires own 43% of the world’s wealth.
The total family wealth of these wealthy people equals USD 400 billion, and 53% is represented by financial assets rather than real estate investments. This number varies between countries: 64% in the US, 44% in China and Germany, and 22% in India.
According to Credit Suisse’s Individual Wealth Analysis, 175,700 people own more than $ 50 million. Of these, 55,800 possess at least $ 100 million and 4,410 had wealth greater than $ 500 million.
Finite Bitcoin Supply Will Hit 98% Within 10 Years
As of March 1, 2021, the total supply of Bitcoin is 18.64 million BTC, leaving about 2.37 million to be mined. Ten years from now, the supply will reach 20.6 million, or 98% of the 21 million coins of the total supply.
Excluding the 1.9 million coins that have not been touched in over a decade, there is a ceiling of 19.2 million BTC available to the world’s 51.9 million millionaires.
This leaves 0.37 BTC per millionaire, including coins that have not yet been mined. A more conservative assumption based on currently available supply and deducting coins that have not moved for five or more years results in 14.57 million BTC. This leaves only 0.28 BTC per millionaire, which is conservative as the number of rich people is likely to increase in the next 5 to 10 years.
The remaining rich people will fight for 0.01 BTC
In addition to certified millionaires, there are 590 million people whose net worth is over $ 100,000. These people should not be dismissed as potential HODLers, even if their purchasing power is lower.
Assuming that the share of global wealth of the 43.4% shown in the above graph remain the same, millionaires around the world represent 6.32 million coins of the conservative idea of 14.57 million that remain available. This ratio means that there is 0.12 BTC per person.
The remaining 590 million people who currently own a net worth of $ 100,000 or more could effectively hold another 5.9 million coins, resulting in just 0.01 BTC per adult.
To conclude, buying 0.01 BTC today, roughly a $ 500 investment at the current price, can secure someone a position within the top 13%. This amounts to being a millionaire today, at least in terms of the percentage of ownership of the total supply of Bitcoin.
The views and opinions expressed here are solely those of the carr and do not necessarily reflect the views of Cointelegraph. Each investment and commercial movement implies risks, you must carry out your own investigation when making a decision. Each investment and commercial movement implies risks, you must carry out your own investigation when making a decision.