With the ups and downs in the crypto market, many wonder what the minimum amount of Bitcoins they need to be millionaires. This, taking into account that the rest of your funds can sell or spend as you prefer. However, some analysts within the crypto community say that the question should not be "how many", but if there really is a specific amount that can ensure that goal.
But first, it is pertinent to clarify certain points. First, with the issue of price, it is important to address the issue of when it is preferable to buy Bitcoins and when not depending on your market price.
The truth is that, although the majority of the crypto community looks forward to the rise in digital currency prices, the falls also take advantage. And when the price of BTC falls, it is the perfect time to buy.
In fact, there are people within the crypto community who are looking forward to the fall in the price of the cryptocurrency in order to buy more. But, is this not the opposite of what the media show the predictions of famous analysts of the encryption say? Why do some ecosystem enthusiasts seem to want to go "against the flow"?
The answer is simpler than you think: the desire to want to get rich faster. If they buy Bitcoins at low prices, when this goes up their funds will increase, and they will be able to have more wealth in a relatively short time.
And this brings us back to the main question, is there a specific amount of Bitcoins to keep to ensure wealth? If so, what is that amount?
The answer to this question depends on your ultimate goal. If you want to belong to one of the so-called "Bitcoin clubs", then the minimum amount of BTC to keep is quite clear.
There are 2 Bitcoin clubs that have been baptized by Reddit users. The first is the "21 Million Club", which is for those members who own 1 BTC or more. Its name originates because there will be 21 million Bitcoins in existence; therefore, the club will only have a maximum of 21 million members.
The other club is called "1 Million Club", whose requirement to be a member is that the user has 21 BTC. This also refers to the maximum amount of Bitcoins that will be issued. Which means that this exclusive club will reach a maximum of 1 million members.
However, if the user's goal is not to belong to these clubs, but to achieve wealth while achieving financial independence, these figures may not be the answer.
The million dollar formula
For these people there is another alternative. Kyle Kemper, the founder of Swiss Key, developed a formula that, in theory, shows the amount of BTC that must be owned. This in relation to the growth of Bitcoin over the years and global wealth.
According to Kemper's formula, to secure a net worth of 1 million dollars, a total of 0.06624605 BTC must be owned.
To understand the formula, it should be clear that: Wealth is the amount that one wants to insure. Global wealth is all the wealth in the world. B-WIT is the goal of Bitcoin wealth insurance.
Knowing this, Kemper then explains that:
- Total Bitcoin offer = 21 million
- Global wealth and, therefore, the absolute penetration of Bitcoin = $ 317 billion.
- B-WIT = (1 million / 317 billion) x 21 million
- B-WIT = 0.06624605 BTC
It is important to remember that this is only a theory, there are no absolute truths in this subject. However, it is a good approximation for those who are wondering what is the minimum of Bitcoins to keep.