If you hold about 15 Bitcoin, congratulations – you’re a millionaire. With Bitcoin steadily gaining purchasing power and fiat currencies losing it, the buzz around cryptocurrency continues to grow. But what about the future? How much Bitcoin should the average person aim to accumulate to secure millionaire status down the road?
The Golden Number: One Bitcoin
The consensus among many Bitcoin enthusiasts is clear: owning just one Bitcoin is the ticket to future wealth. While achieving “whole coiner” status might seem daunting initially, it’s a goal worth striving for. As Bitcoin rallies on its projection to a million dollars and beyond, the journey towards $10 million per Bitcoin doesn’t seem far-fetched to its ardent supporters.
Why Bitcoin and Not Fiat?
A million dollars isn’t what it used to be, but securing one Bitcoin now could be equivalent to holding $1 billion in the next decade. This belief stems from Bitcoin’s inherent cap of 21 million coins, ensuring scarcity and value. With many coins lost and staunch holders like Michael Saylor refusing to sell, the actual number of available Bitcoins could be far less, making each one all the more precious.
Steps to Owning One Bitcoin
So, how does one accumulate Bitcoin? Rule number one: never sell your Bitcoin. Start small – save any extra money you earn and allocate it towards Bitcoin. Whether it’s from renting out a room on Airbnb or cutting back on unnecessary expenses, every little bit helps build towards your goal.
Think of Bitcoin as a Savings Account
Treat Bitcoin like a long-term savings account for the next three to five years. Resist the urge to spend frivolously. Avoid putting all your money into risky ventures like speculative meme coins. Instead, focus on growing how much Bitcoin you own, not its current dollar value.
Hold and Secure Your Bitcoin
Once you start accumulating Bitcoin, ensure it is securely held in cold storage or through multi-signature solutions. It’s also recommended to make small transactions occasionally to stay familiar with how Bitcoin works. Buy a coffee or find a restaurant that accepts Bitcoin, but never lose touch with its practical use.
Bitcoin vs. Traditional Investments
Missed out on the housing boom? Don’t sweat it. Bitcoin offers a much more lucrative opportunity compared to traditional investments like real estate. Housing might have been the investment for previous generations, but the future lies in Bitcoin. Expensive housing markets shouldn’t deter you; instead, focus on places where living costs are lower and invest in Bitcoin.
The Exclusivity of Bitcoin Ownership
Consider this: there are over 100 million millionaires globally, but only 21 million Bitcoins will ever exist. Factoring in lost coins and those never sold, less than 10 million people can ever own a full Bitcoin, possibly even fewer. Securing one Bitcoin places you within an exclusive global club of top wealth holders, a club much smaller than the population of major cities like New York or Atlanta.
A Generational Opportunity
This is a generationally unique opportunity. A decade from now, people might wonder how you ever managed to secure one Bitcoin. The answer will be simple: you recognized the potential early and took consistent steps to build your Bitcoin savings when its price was relatively accessible.
Final Thoughts
Bitcoin presents a unique investment opportunity. It’s not just about the potential returns but also about taking part in a financial revolution. If you are serious about securing a wealthy future, consider making Bitcoin a core part of your investment strategy. If you have some spare cash and wish to explore other areas, feel free. But always keep the foundational goal of owning at least one Bitcoin in mind.