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This is Bitcoin’s path to 1 million. What if you started investing from zero today – where should you put your money: stocks, real estate, or cryptocurrency? Which one is the best? The fastest path to 1 million would be with Bitcoin and here is why.
Imagine you invested you bought 2 Bitcoin at the current price of $37,000 and let’s imagine Bitcoin reaches $500k per coin in the year 2030. That would make you a hypothetical millionaire. How would that money do in the stock market assuming you invested that into the S&P500? It would take you until the year 2047 at the rate of 10% per year or 17 years after you would become a millionaire with Bitcoin. Is that really possible? Here are some paths to getting there.
Path 1:
This is the biggest news that crypto has had the entire year, bigger than Elon and Tesla buying Bitcoin, bigger than the issuance of Bonds on Ethereum. What would happen to Bitcoin if a country outside the dollar, the euro, the yen, the British pound etc, a country outside of primary currencies would start adopting Bitcoin as legal tender?
The first country to adopt Bitcoin as legal tender happened this week and the country is El Salvador. The announcement came at the Bitcoin conference in Miami where President Nayib Bukele announced that citizens of El Salvador will be able to buy, sell, set prices in denominations of Bitcoin, and even pay their taxes in just 3 months time. This is not a proposal, the bill was passed with a super majority vote. And the best part is the Bitcoin transactions will not be subject to capital gains taxes.
El Salvador has a population of 6.5 million people and every single one of their businesses will start accepting Bitcoin. 70% of El Salvador’s population doesn’t have a bank account, and if 1% of the current market cap of Bitcoin would be invested in El Salvador, it would increase their GDP by 25%.
Path 2: Corporate buying. Fun fact: there are 50,000 publicly traded companies in the world, of those 50,000 – can you guess how many own Bitcoin on their balance sheet? 32 out of 50,000. That represents .064% – that’s not even a tenth of 1%. Will this number go down or up over time? What happens when 100 companies own Bitcoin? What about 1,000 of the 50,000? What if it’s 10,000 – what would that do? In this scenario Bitcoin could easily skyrocket past $500,000 if more corporations around the world started buying (this is on top of the countries that are about to start buying).
Path 3:
The next path is something Kevin O Leary talked about so credit to him. It’s about hedge funds. Remember hedge funds are just pools of money that are made from mostly wealthy people’s money. If you wanted to be part of a hedge fund, all you need to have is a net worth of at least one million dollars which excludes your house and make anywhere from 200 to 300k a year and up. As of 2021, hedge funds have access to a little over 4 trillion dollars. Why haven’t they started buying yet? ESG.
What is ESG?
ESG stands for economic, social, and governance. It’s a way of rating investments based on how ethical and sustainable they are. Hedge funds want to make sure the money they invest is compliant with ESG standards and Bitcoin doesn’t (yet) meet that requirement for them. When it does, the floodgate hundreds of billions of dollars will open.
Not enough Bitcoin:
There’s 42 million millionaires in the world and there’s only ever going to be 21 million Bitcoins in existence, there’s not enough Bitcoins if every millionaire today decide to own just 1. If having a million dollar net worth is something that you’re into – Bitcoin will beat every other asset including stocks, so if you want to be a millionaire, it’s inevitably quicker with Bitcoin.
*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.