How Much Bitcoin You Need to Be in the Richest 1% of BTC Holders – Bitcoinist

Just when you were lamenting not buying more bitcoin before the price spiked, Jake Levison made your day. According to the BlockWorks Group analyst, you only need 0.28 BTC to be in the top 1% richest of the world (in BTC terms).

As BTC blasts through $10K again in spite of possible impending bearish regulation, Bitcoinist recently reported that just 2% of all addresses hold 1 BTC or more.

Of course, many people hold more than 1 BTC spread out over various wallets. However, the actual number of people who own a whole bitcoin is really quite small at somewhere between 500,000 and 1 million.

Theres no need to despair if you havent been able to acquire (or keep) a full BTC, though. Jake Levison says that all it takes is 0.28 BTC:

But how did he reach this conclusion and when is this scenario likely to appear?

While Levisons bullish post sparked a flurry of excitement, it also raised a few questions. Like, where did he derive that figure and when will this scenario take place?

One of his followers pointed to a blog post by Unchained Capitals Parker Lewis called Bitcoin Obsoletes All Money. He uploaded a graphic showing that this could possibly be the case circa 2030. This is when average holdings are 0.001 BTC and there are one billion users on the network.

However, according to Levison, if youve got 0.28 BTC, its already happening now. He replied:

From now until the end of time.

My tweet was saying that if you own .28 BTC, only 1% of the world will ever be able to own more than you. Hence putting you in the top 1%.

That may not be such a bullish thing, after all, depending on your point of view. As BTC Kris pointed out:

No more than 5-10 million people will ever own a full Bitcoin

This naturally implies an unfair distribution of the wealth as whales, hodlers, nations and institutions hold the lions share.

Still, if you want to say youre in the top 1% (even though that currently equates around $2835.20) you can do so with 0.28 BTC. And if you want to own a whole one, it may be time to get a move on.

Are you in the worlds richest 1% in bitcoin terms? Let us know in the comments below!

Images via Shutterstock, Twitter @jakelevison @Haggsboson @BTCKris_

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How Much Bitcoin You Need to Be in the Richest 1% of BTC Holders - Bitcoinist