It is May 2, 2020, and as I write this, we have just entered the home stretch to Bitcoin’s third Halving. Indeed, when you read this story, we will be less than 11 days away from this historic event for Bitcoin.
On May 12, 2020, the Bitcoin reward for miners validating a block of transactions will be halved from 12.5 BTC to 6.25 BTC.
A historic shock to the daily Bitcoin supply will occur. At block height 630,000 of Bitcoin Blockchain, the daily production of new Bitcoins will only be 900 BTC, compared to 1800 BTC currently. This is a BIG deal!
Halving is an automatic event essential to Bitcoin’s unique monetary policy. This third Halving will bring Bitcoin supply inflation below 2% for the first time in its history. Bitcoin will become more rare than ever, & at the same time that the Fed is printing U.S. dollar ad infinitum.
A very strong bull market is expected for Bitcoin price, which is expected to spread over a period of 18 — 24 month if we look at the past history of Bitcoin halvings.
Under these conditions, owning 1 full Bitcoin becomes something really essential. The price of Bitcoin is set to rise to new heights, and in the future, I sincerely believe that speaking in Satoshi, the smallest unit of measurement for Bitcoin, will become the norm.
Start thinking in terms of the Bitcoin system
I just looked at the wealth distribution of Bitcoin addresses. In doing so, I realized something essential that I don’t think a lot of people still grasp.
I realized that 8,318,579 addresses are already millionaires with Bitcoin.
In my title, I say “more than”, because by the time you read these lines, this number will surely be much higher still.
Following this statement, you must be wondering what the fuck I am talking about.
Bitcoin price right now is $8,853. You’re thinking that to be a millionaire with Bitcoin, you have to own at least 113 Bitcoins.
This line of reasoning is still associated with the current monetary and financial system. I would even dare to say to the old system. Bitcoin is a total paradigm shift that builds every day a new system that is fairer to its users.
You have to stop thinking in U.S. dollar and start thinking in terms of the Bitcoin system.
Like me, you know that the maximum supply of Bitcoin is limited to 21 million units. You must have already read that Bitcoin is divisible to eight decimal places. The smallest unit of Bitcoin is called Satoshi, or Sat, in tribute to its creator Satoshi Nakamoto.
So we have the following equivalencies:
1 Satoshi = 0.00000001 BTC
1 BTC = 100,000,000 Satoshi
With Bitcoin price potentially reaching as high as $1 million in the future, it will not always be easy to use BTC as the standard when you buy goods and services.
I relate this to my Myspace / Facebook analogy quite a bit. MySpace was the first, the biggest, and the only social media. We all knew Tom from MySpace. top 8. Those were the days.
Facebook, Snapchat, Instagram, all of these came to be because MySpace broke the ground. I think of BTC like that. It’s the first. The biggest. But can we really have a one world currency with 10% locked in a wallet who we don’t know who it even is?
For this reason, using Satoshi as the main unit will be much more convenient. For me, talking in Satoshi will be the norm in the future.
Assuming that Satoshi will become the standard unit used in the Bitcoin world in the future, you will be able to change the way you approach things.
Thus, a millionaire in Bitcoin world is someone with 1 million Satoshi.
More than 8,318,579 addresses are already millionaires
Owning 1 million Satoshis is equivalent to owning 0.01 BTC. With this reasoning, you will immediately understand why I am telling you that at least 8,318,579 addresses are already millionaires with Bitcoin :
From this Bitcoin wealth distribution table, a simple addition allows us to see that the number of addresses with at least 0.01 BTC in their possession reaches this number that I have put in the title of my story.
To amplify things, I have mentioned people rather than addresses in the title of my story.
Since a person can own more than one address on the Bitcoin network, the number of people actually owning 0.01 BTC may be less. Nevertheless, the main point I want to share with you remains the same whether this number is slightly lower or not.
The number of millionaires with Bitcoin is already high when you think in Satoshi even though many people are not aware of this. But this number is set to explode and to be much higher in the weeks and months to come.
With Bitcoin third Halving taking place in less than 10 days, more and more people will come to discover Bitcoin. Out of this number of people, many will take the plunge and buy Bitcoin just in case, as some like to say.
This sharp increase in demand for Bitcoin will increase the number of Bitcoin millionaires exponentially in the coming months and years.
So by buying Bitcoin today, you still have a chance to become a Bitcoin millionaire. With the next Bitcoin Halvings in the future, it is not sure that you still have that chance.
If you are one of the 3,013,121 addresses with at least 0.1 BTC, you are a multi-millionaire in Bitcoin since you own at least 10 million Satoshi.
Addresses with at least 1 BTC allow their lucky owners to own at least 100 million Satoshi. There are 812,216 addresses with more than 1 BTC at the time of writing. In the coming weeks, the million should be exceeded as more and more people who understand the importance of Bitcoin for the future have entered a real race to own at least 1 BTC in its entirety.
Bitcoin billionaire’s addresses currently number is 154,431. I’m not sure if this number will increase that much in the future. This is equivalent to owning at least 10 BTC which corresponds to 1 billion Satoshis.
People who believed in Bitcoin before others are already in this category.
Stacking Sats day in and day out is essential to your future
With these numbers, my goal is to remind you how important it will be in the future to own even 0.01 BTC. The meme “Stack Sats” that has been developing for several months in the Bitcoin community may seem like a joke to you, but it is here to remind you of one fundamental thing:
Stacking Sats is an awesome way to best prepare your future.
Today, a Bitcoin is worth $8,852. So, 1 Satoshi is worth $0.00008852. Stacking Sats every day seems useless to you. Nevertheless, you should think of an approach equivalent to compound interest.
Let’s imagine that you decide to stack the equivalent of $5 in Satoshis every day for 5 years. With a constant price of Satoshi in U.S. dollar over this period of time, you could accumulate 1,030,800 Satoshis.
You would therefore have 1.03 BTC at the end of these 5 years.
This must give you something to think about. It shows you the value of consistency and patience in the Bitcoin world. As I often say, Bitcoin rewards those who fundamentally believe in its revolution and support it over time no matter what.
It is up to you to make the right decision if you want to join the ranks of the 8,318,579 Bitcoin millionaires in the coming months.
Good luck
