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Why Don't More Millionaires Buy a Bitcoin? Is There Enough to Go Around?
Hey everyone, l've been thinking about Bitcoin lately. There's something like 70 million millionaires in the world now, which is wild to me. So what if just a small chunk of them, maybe 5 to 10 percent, so around 3.5 to 7 million people, decided to buy at least 1 BTC each? I'm curious why we don't see this happening more often. Are they scared off by the volatility, or do they just not understand btc or crypto in general? I mean, if Bitcoin's sitting around $88k or so, that's pocket change for some of them, right? Then there's the supply question that's been bugging me. Bitcoin's capped at 21 million coins total, and most of that's already mined, but l've read a bunch are lost forever, like from old wallets people can't access. So if millions of millionaires jumped in to grab a coin each, would there be enough Bitcoin left? Or would the price just shoot through the roof because there's not enough to meet the demand? I'm not a finance guru or anything, just someone who likes pondering this stuff. submitted by /u/richlobstermeow [link] [comments]
Hey everyone, l've been thinking about Bitcoin lately. There's something like 70 million millionaires in the world now, which is wild to me. So what if just a small chunk of them, maybe 5 to 10 percent, so around 3.5 to 7 million people, decided to buy at least 1 BTC each? I'm curious why we don't see this happening more often. Are they scared off by the volatility, or do they just not understand btc or crypto in general? I mean, if Bitcoin's sitting around $88k or so, that's pocket change for some of them, right?
Then there's the supply question that's been bugging me. Bitcoin's capped at 21 million coins total, and most of that's already mined, but l've read a bunch are lost forever, like from old wallets people can't access. So if millions of millionaires jumped in to grab a coin each, would there be enough Bitcoin left? Or would the price just shoot through the roof because there's not enough to meet the demand? I'm not a finance guru or anything, just someone who likes pondering this stuff.
[link] [comments]
