According to a recent article there is roughly 56.1 million millionaires worldwide (https://www.bbc.com/news/business-57575077). There is also approximately 18.75 million bitcoin mined to date. Doing some simple math, 18.75 mill / 56.1 mill gets us ~0.334 bitcoin for each millionaire. That would mean each coin would have a face value of $3 million.
However, the above calculation is not realistic. There is approximately 4 million bitcoin that is lost forever. So really we should be calculating 14.75 mill / 56.1 mill which gets us ~0.263 bitcoin for each millionaire. This would mean each coin would be worth almost 4 million dollars.
However, this is still not realistic. If bitcoin were suddenly adopted globally then that would mean all the countries in the world would have a bitcoin reserve. At this point I’m making up random numbers, but let’s say all the countries around the world own 5 million coins all together. Let’s also consider all the private and public companies in the world that would have their own reserve. Let’s say these corporations together owned 2.5 million coins. That would mean there would be only 7.25 million coins left for the millionaires. However, we also need to consider the amount of coins all the non-millionaires would own… let’s say all the non-millionaires make up 1 million coins all together.
This leaves us with 6.25 million coins for the millionaires. 6.25 mill / 56.1 mill gets us 0.111 bitcoin for each millionaire. Meaning each coin would be worth about 10 million usd. However, this is not even considering that some millionaires are vastly richer than other millionaires. We need to consider the millionaires that currently own hundreds of millions of dollars of assets versus the millionaires that only have 1 million dollars worth. This would mean each millionaire would have on average much less than 0.111 bitcoin. Wouldn’t this put bitcoin at a value worth 10s of millions of dollars?
What are everyone else’s thoughts on this? How much bitcoin can each millionaire realistically own on average if the whole world suddenly adopted bitcoin today?
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