Today there are 18,244,475 BTC in circulation and during the last few weeks, a number of bitcoin influencers have been talking about how much is needed to be included in Bitcoin’s top 1% of holders. For instance, according to Blockworks Group analyst Jake Levison, if you own 0.28 BTC “you’re statistically guaranteed to be in the richest 1% of the world in BTC terms.” Regardless of the amount of BTC required to qualify as a one-percenter, it’s a debate that has raged on for years.
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Members Only: Is 0.28 BTC All It Takes to Make the Bitcoin 1%?
On February 18, Blockworks Group analyst Jake Levison tweeted about what it takes to make it into the top 1% of bitcoin holders worldwide. “If you own 0.28 BTC, you’re statistically guaranteed to be in the richest 1% of the world in BTC terms,” explained Levison. Despite the fact that the tweet received 1.5K likes, not everyone agreed with Levison’s estimate. “Maybe earlier, in 2030, average holdings are only 0.01 BTC, assuming 1 billion using the network,” Twitter user @Haggsboson replied. The 2030 assumption came from the recent study written by Unchained Capital’s Parker Lewis called “Bitcoin Obsoletes All Other Money.” Levison’s opinion is not really new either as others have assumed that 0.28 BTC gets you into the richest 1% of bitcoin owners.
Former Google Product Director Steve Lee said the same thing in October 2018. “If you own 0.28 BTC and HODL, you can be certain no more than 1% of the current world’s population can ever own more BTC than you. A modest investment of $1,830 today can ensure you are a 1%er in a future Bitcoin world,” Lee tweeted. Not too many people disagreed with Lee’s statement in 2018 but one replied: “That’s true but you have to factor in that not all wealth will be in BTC. You might be in the 1% top BTC balances but not in the top 1% wealth.” So the average bitcoiner…