bitcoin crypto millionaires billionaires

bitillionaire in the purest sense is someone who has at least one Bitcoin. Where as a crypto-bitillionaire is someone who has cryptocurrency holdings with a total worth equivalent in value to at least one Bitcoin, but who is not holding at least one actual Bitcoin.

Having at least one Bitcoin also puts you in the 1/21 million club. There will never be 21,000,000 people with a whole Bitcoin though. The club is far more exclusive than that because some own more than one Bitcoin and many more own only a fraction of a Bitcoin.

Bitcoin is divisible to the 8th decimal place in units called satoshi’s  (1 satoshi = 0.00000001 BTC). Which is the smallest unit currently possible for Bitcoin today. So that means that every Bitcoin is made up of 100,000,000 satoshi, meaning that Each bitcoin (BTC) can be split into 100,000,000 units.

By contrast Ethereum and most of the new tokens being created on the Ethereum network have a divisibility of 18 places.

So will 8 decimal places be enough for Bitcoin as it’s value keeps growing? Well, the answer to that is — if necessary additional decimal places can be added by a Bitcoin network consensus. Essentially this makes Bitcoin infinitely divisible, because the divisibility can be adjusted over time when and if required.

The Satoshi, which is the current smallest Bitcoin unit was named to honor the original creator of Bitcoin, Satoshi Nakamoto. Satoshi Nakamoto is a real person but his or her actual identity is still unknown even up until now.

Someone who has a large quantity of Bitcoin is often referred to as a Bitcoin Whale, especially when it comes to trading. Because their size in the market allows them to have a lot of sway in markets if they so choose.

The price of Bitcoin is predicted to climb substantially. With some predictions having Bitcoin at $40,000 to $50,000 possibly before the end of 2018, especially if a Bitcoin ETF is approved. Other projections have Bitcoin hitting a price well into six figures in five years or less. If these predictions turn out to be correct then it’s not hard to imagine one Bitcoin being worth one million or more US dollars in 10 to 15 years. Which means as time passes, gaining the title bitillionaire will become substantially more difficult, and at some point being a bitillionaire or multi-bitillionaire will likely be more impressive than being a millionaire in US dollars.

Even now being a bitillionaire really says something about a person, because more than 70 percent of the world’s adults own under $10,000 in wealth. It also demonstrates that the person has enough abundance that they can hold onto one Bitcoin without needing to spend it.

So you want to be a bitillionaire… Well all you need to do is accumulate 100,000,000 satoshi and then you too will join the exclusive 1/21 million club who owns 1 full Bitcoin.

 

 

 

 

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