Bitcoin is a market that has the power to change people’s lives financially forever. We have all heard the stories of people entering the market, and in a short time becoming rich. This prospect is what attracts most people to this market. After all, the world around us is becoming more difficult by the day. Things that could afford in the past now must be cut out of our budget in order to make ends meet.
With that mindset, people entering the Bitcoin and cryptocurrency market all have one question that they want to know the answer to.
How much Bitcoin do they need to become rich or change their lives financially?
This is where the problem for most people comes in. Upon entering the market they are told the “golden target” amount of Bitcoin that they need to accumulate in order to be set for life. A goal that has changed dramatically throughout the years depending on when you first began buying Bitcoin. Several years ago, it was thought that you needed to own 210 Bitcoin. But as Bitcoin’s price began to increase that goal was reduced to 21 BTC. However, the price continued to rise and the goal shrunk down to 5, and now down to 1 Bitcoin. For the past handful of years owning 1 full Bitcoin has been the golden achievement in the cryptocurrency market. A mark that most consider will set you up great in life for the future.
But 1 full Bitcoin currently costs about $64,000; a price that already far exceeds what is possible for most people.
This will either cause the potential investor to completely give up on accumulating a full Bitcoin, or maybe give up on Bitcoin completely. Instead deciding to venture into altcoins hoping that they can find the next token that will be the next big thing. All because they feel they missed their chance with Bitcoin.
Or even worse, they might decide to avoid investing in cryptocurrency altogether.
Both of these groups of people are making a fatal mistake. They aren’t thinking big enough about Bitcoin.
The first thing that you need to know is that you don’t need to buy a full Bitcoin. You can buy little pieces of it at a time, called Satoshis. Each full Bitcoin consists of 100,000,000 Satoshis.
The second thing you need to know is that you shouldn’t be thinking about the current price, but the future potential it has. We have all heard the large price predictions for the upcoming bull cycle. Many are expecting the price of BTC to rise over $100k, and others are predicting that it could even go higher than $500k.
But that is when things begin to become very interesting. Cathie Wood of ARK Investments believes Bitcoin will be over $1 million per coin by 2030, and that is only the beginning. There have been price predictions by very well-respected people in the finance market claiming that not only will Bitcoin’s price someday go over $1 million, but it could go higher than $10 million and even far beyond that.
All of a sudden that goal of needing to own 1 full Bitcoin to change your life can be shrunk down. If you have a long enough timeframe, it’s very possible that even owning a 0.25 could be life-changing for most people. If Bitcoin’s price comes anywhere close to those outlandish predictions, then you would need even less Bitcoin than that.
The problem that most investors have with Bitcoin, is that they simply are thinking big enough, and understanding where things are actually heading.
Think Bigger.
How about you? How much Bitcoin do you think each person needs to own?
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As always, thank you for reading!