Crypto influencer Bitboy discusses how Cardano (ADA) holders can become millionaires, analyzing three scenarios based on ADA’s potential price surges.
In a recent video, famous crypto influencer Ben Armstrong, otherwise called Bitboy, discussed the potential of Cardano to make investors millionaires. Armstrong emphasized the significance of ADA’s current price and its potential for exponential growth in the next bull run.
Armstrong acknowledged at the beginning of his analysis that ADA was hovering around $1 for an extended period, even during the bear market. However, he pointed out that once crypto prices start heating up, any bag of ADA could be worth a significant amount.
Considering ADA’s previous all-time high of $3, Armstrong estimated that accumulating just over 300,000 units of ADA tokens would make someone a Cardano millionaire. And with ADA’s current price of around $0.40, it would cost approximately $120,000.
Armstrong, who openly disclosed his Cardano holdings and bullishness on the project, expressed his belief that ADA’s price would surge even higher, making the millionaire milestone more attainable.Â
He expected ADA to surpass $3 during the next bull run, driven by factors such as the growing interest in emerging economies and the upcoming Hydra upgrade.
How much Cardano (or its token ADA) do you need to become a millionaire in the next bull run? Today I'm doing some moon math to find out what it's going to take to achieve those millionaire dreams! ?https://t.co/jTdtbHs9i3 pic.twitter.com/GdwggKlOOS
— Ben Armstrong (@Bitboy_Crypto) May 16, 2023
Three Scenarios to Attain ADA Millionaire Status
Bitboy presented three scenarios for ADA’s future price. In the first scenario, where ADA’s market cap reaches $175 billion, a good run-up in a crypto bull market, ADA price could surpass $5. In this case, owning 200,000 ADA would equate to a million dollars at the current price.
In the second scenario, if Cardano manages to triple its previous market cap, ADA priced at $8 would result in a $280 billion market cap. Becoming a millionaire requires around 125,000 ADA, costing roughly $50,000 by the current price of $0.4.
Armstrong’s third scenario involved ADA going parabolic and threatening Ethereum’s market cap. If ADA reached $10 with a market cap surpassing $350 billion, owning 100,000 ADA would be enough to achieve a million dollars, requiring a current investment of approximately $40,000.
Bitboy highlighted the potential of ADA’s staking rewards, emphasizing that even smaller investments could yield substantial gains. For instance, staking 10,000 ADA, costing around $4,000, would be worth $100,000 if ADA’s price reaches $10 during the bull market.
Roadmap to XRP Millionaire Status
Also, Bitboy recently shared his perspective on how much XRP an investor would need to become an XRP millionaire. According to Armstrong, holding 150,000 XRP is the target to become a millionaire. His statement sparked a discussion within the crypto community, prompting various reactions and opinions.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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