Acquiring Bitcoin has become increasingly challenging for many individuals, despite the cryptocurrency’s reputation as a smart investment. Back in 2016, the price of Bitcoin was around $400 to $500, allowing enthusiasts to own a whole coin. Today, however, the landscape has dramatically changed.
What Factors Are Driving Up Bitcoin Prices?
Bitcoin’s current price hovers around $100,000, making it nearly impossible for most potential buyers to afford even a fraction of a coin. For instance, young Americans under 35 have average savings of about $20,540, which only covers roughly 25% of the price for one Bitcoin. This reality poses significant obstacles for millennials and Generation Z who aspire to own Bitcoin.
How Exclusive Is Bitcoin Ownership?
Approximately 1 million Bitcoin addresses contain more than 1 BTC. Even if we assume these addresses belong to different individuals, they only represent about 0.0125% of the global population, indicating that possessing Bitcoin places individuals in an extremely exclusive group.
– There are 58 million fiat millionaires worldwide, but only 21 million Bitcoins exist.
– The ratio of wealth to Bitcoin availability suggests that not everyone can own a Bitcoin.
– This limited supply makes Bitcoin more precious compared to unrestricted fiat currency production.
If you aspire to join this elite group of Bitcoin owners, now is the time to act. Many millionaires may miss out on this opportunity, while existing Bitcoin holders become part of a select 0.0125% of the population. Over the next few decades, the rarity of Bitcoin is likely to become even more apparent, underscoring its value in an increasingly digital world.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
