If You Have Bitcoin (BTC), Regard Yourself as Extremely Lucky
Alisha Dar
Owning Bitcoin (BTC) can be seen as a stroke of luck due to its limited supply and the cyclical nature of its demand. The fluctuating interest in BTC, marked by bull and bear markets, underlines the potential for even fractional ownership to hold future value, especially when considering the global population and the finite number of BTC available.
The resilience of cryptocurrency, particularly Bitcoin, has been highlighted by experts who predict its lasting presence. Yet, the scarcity of Bitcoin means not everyone can possess a whole BTC. An estimate by Twitter user Bitcoin Apex reveals that approximately 14.5 BTC are available per 8,000 individuals.
With nearly eight billion people currently on Earth and only 21 million BTC projected to be in circulation by the end of a prolonged mining process, scarcity becomes evident. However, accounting for factors like tokens held by Satoshi Nakamoto and potentially lost tokens (around 34% of the current supply), the available BTC supply decreases significantly.
Determining the ideal amount of BTC an individual should own depends on various factors, though holding a larger portion could be appealing for future Bitcoin believers. Yet, readers are urged to base their investment decisions on their own research.
Excluding the possibility of lost tokens, each person could theoretically hold a maximum of 262,500 satoshis or 0.002625 BTC, requiring an investment of about $77.09 at current prices to "recover" this share of BTC.
While owning more than 0.002625 BTC remains feasible, the landscape could shift drastically if Satoshi's vision materializes. In the scenario where significant players such as large wallets, institutions, countries, and other international entities embrace Bitcoin, the general public might find it increasingly difficult to acquire a substantial share of this premier cryptocurrency.
In essence, BTC scarcity can lead to heightened demand, akin to scenarios where limited commodities are sought after by people. The historic "Bitcoin Pizza Day," during which 10,000 BTC bought two pizzas, could be seen as a precursor to Bitcoin's transformative journey.
In the future, people might ridicule an individual for spending Bitcoin on a $30,000 car, mirroring the mockery faced by those who bought two pizzas for 10,000 BTC (now valued at around $300 million) in 2010. However, considering the low value of those 10,000 tokens at the time, the lesson of potential future value growth remains relevant.