Holders Of 1 Bitcoin (BTC) Will Be Privileged People
Despite the considerable crypto market volatility, people’s interest in Bitcoin (BTC) is on the rise these days, and the trend will definitely continue.
The crypto market witnessed some pretty massive price drops lately, but this is not enough to stop optimistic predictions about Bitcoin.
You may recall that not too long ago, we reported that Binance CEO said that whoever has 1 BTC will basically be among the wealthiest people on the planet.
BTC investors to become a “rare class”
In a new viral tweet, Zhao speculates that BTC’s limited total supply will push its investors into a rare class.
You can see his tweet below.
If you own 1 $BTC, you are mathematically guaranteed to be top 3/1000 richest in the world, in BTC terms. (21m / 7B).
— CZ Binance (@cz_binance) August 25, 2019
BTC’s protocol allows for 21 million to be mined in total.
BTC entrepreneur Charlie Shrem pointed out at the fact that BTC has a relative scarcity as evidence of its current and future value.
Brian Armstrong is on the same page
Now, Coinbase CEO Brian Armstrong joins the voices in the crypto space who are saying this and he also claims the very same thing.
In a brand new tweet, Armstrong offers a response in order to address an article coming from Vice which analyzes BTC’s origins, scarcity, wealth creation, energy usage, adoption, and potential.
The article calls crypto billionaires the “new Medicis” who are “funding a wave of art, culture, and technology efforts commissioned in their own image.”
For better or worse, I do think owning one whole Bitcoin will increasingly become a big deal. Only 21M will ever be produced, and some people already own much more than one. https://t.co/7gFvMDdqG5
— Brian Armstrong (@brian_armstrong) August 24, 2019
“The new digital wealth is already reshaping the traditional domains of the 1 percent—even philanthropy. In late 2017, an anonymous cryptocurrency holder launched Pineapple Fund, devoted to giving away $86 million worth of Bitcoin to charities,” the same article says.
It continues and explains, “Its slogan suggests the scope of the crypto boom: ‘Once you have enough money, money doesn’t matter.’ The fund’s creator notes that the $86 million represents most, but not all, of their hoard.”
You can see people’s feedback by heading over to Twitter.
Brian Armstrong is the co-founder and CEO of Coinbase, one of the largest crypto exchanges in the world (its reported Coinbase holds 966,230 Bitcoin ($7B) in Cold Wallet). Prior to his involvement with the blockchain and Coinbase, Armstrong worked at Deloitte and Touche as an Enterprise Risk Management Consultant.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.