Thread by @TheCryptoLark

How much #bitcoin do you need to get rich? Can Bitcoin still make you a millionaire?

1 - Well, first, let's face this fact. If you can afford to buy 1 BTC today then congratulations you are rich! 1 BTC is worth more than the average annual income of the majority of the world's citizens. worldpopulationreview.com/country-rankin…

1.1 So getting "rich" from buying BTC is highly subjective. But one thing is for sure in my mind buying BTC is a way to ensure I don't go poor slowly with fiat.

2 - Is 1 BTC enough? Assuming you are well off enough to buy 1 BTC then will that 1 BTC make you rich? Well. Sort of, yes. My estimate is that Bitcoin will rival the market cap of gold which is around 550k per BTC. Not a bad return on investment if you buy 1 BTC today!

2.1 However with the forces of inflation and general monetary shenanigans it is possible that one day, far down the road BTC could hit 1 million.

BTC in my view is a long term investment, a multi year time frame should be taken.

3 - The easiest way to become a Bitcoin millionaire is to buy a million dollars worth of Bitcoin. Easy. Jokes

4 - Realistically Bitcoin will probably pull between a 10 and 20X by the end of the decade. If you are expecting to get rich quick then you are interested in the wrong investment.

5 - The best way to get Bitcoin exposure is to cost average in buying a little bit on a regular basis. Again don't look at this as a way to get rich quick, but not go poor slowly. You are trading bad money for good money.

5.1 - There are less than 700,000 addresses with 1 Bitcoin or more. If you can manage to stack one coin then you will be in an elite group of investors. bitinfocharts.com/top-100-riches…

5.2 In my opinion the most likely amount of Bitcoin you will need to become a millionaire will be 2 BTC. If you had DCAed $100 a week since the top of the last bull run then you would have around 2.5 BTC. Congrats you are likely going to be a millionaire in a few years.

6 - Altcoins while much more speculative can make those 100X returns for you. BUT many of them are not good long term investments. I tend to take profits from alts and dump them into BTC, USDC, ETH, and stocks.