(Jaichai) — “Playing with numbers to see how much Bitcoin I will need to be rich in the future.”
(image by fintechs.fi)
21 million minted minus 33% lost forever Bitcoin? That leaves 14.7 million Bitcoin in 2040.
And by 2050, barring another pandemic or WWIII, the world’s population is expected to be 9.9 Billion.
HmmX2…okay, let’s extrapolate.
Ass-uming a fair distribution, 14.7 million divided by 9900 million (9.9 billion) is 0.00148485 BTC per individual.
HmmX3…BUT wait a minute, what if “recentralization” instead of decentralization occurs? — meaning, the future turns out to be just a digital version of today’s status quo.
In the article “The distribution of wealth in the United States and implications for a net worth tax” by the Washington Center for Equitable Growth states:
Currently, wealth is distributed in a highly unequal fashion. 1 percent of the wealthy families hold about 40% of all wealth. This share of wealth substantially exceeds the share of income of the highest-income families.
According to Forbes, in June of 2021, the World’s Wealth hit nearly half a Quadrillion Dollars. The world’s total wealth hit 431 Trillion USD and over 1/4 of it is controlled by HNWIs (High Net Worth Individuals).
Back on topic: How much Bitcoin to be rich in 2050?
(image by Bootstrap Business)
Given all the above, 99 million (1% of 2050’s 9.9 billion people) HNWIs will control 5.88 million (40% of the world’s 14.7 million Bitcoin).
That means possessing 0.593939 Bitcoin (5.88 million bitcoin divided by 99 million HNWIs) in 2050 would make me a bona fide “HNWI” and place me in the Wealthy Global Elite.
[Note: If I f*cked up the basic math, please correct me!]
Hell, even just 0.3 Bitcoin would make me, in today’s terms, “just a simple multi-millionaire.”
But the Big Question is, “Can I HODL that long? I mean, seriously? In 2050, I will be 88 years old like my man Clint!”
(image by LADbible)
In Lak’ech, JaiChai
(sources: https://equitablegrowth.org/the-distribution-of-wealth-in-the-united-states-and-implications-for-a-net-worth-tax/#footnote-2; https://www.forbes.com/sites/oliverwilliams1/2021/06/10/worlds-wealth-hits-half-a-quadrillion-dollars/?sh=4b167d47309d)
(JaiChai 10 OCT 2021. Simultaneous multi-site submissions posted. All rights reserved.)