The continuous Bitcoin rise threatens even millionaires, and a top crypto pundit has urged high-net-worth individuals to buy before it becomes costly for them.
Bitcoin now trades above $120,000 amid its fourth consecutive month of price increase. The crypto leader touched $123,181 today, marking a new all-time high, before pulling back briefly.
Remarkably, this persistent uptrend means Bitcoin has become far more costly for the average earner. The Social Security Administration recently published that the average yearly salary in the United States stands at $66,622, which is almost half of BTC’s current price.
Bitcoin to Become Expensive Even for Millionaires
Meanwhile, according to the top crypto channel Altcoin Daily, millionaires are also at risk of not being able to afford Bitcoin. The platform shared this sentiment in a recent tweet, urging millionaires to buy at least 1 BTC now before it becomes too expensive for them.
Meanwhile, this perception aligns with growing expectations that Bitcoin will be worth multiple millions of dollars in the near term. It also echoes a popular tweet from the El Salvadorian president, Nayib Bukele, that not all millionaires will be able to buy one Bitcoin.
For context, the January 2022 post noted that there are over 50 millionaires in the world and just 21 million BTC ever to exist. Simple calculations show that they won’t even be able to get 0.5 BTC if they all were to buy. This suggests that one whole Bitcoin will become a luxury and be worth a fortune in the future.
There are more than 50 million millionaires in the world.
Imagine when each one of them decides they should own at least ONE #Bitcoin
But there will ever be only 21 million #Bitcoin
No enough for even half of them.
A gigantic price increase is just a matter of time.
— Nayib Bukele (@nayibbukele) January 31, 2022
President Donald Trump’s second son, Eric Trump, shared that even 0.5 BTC will be a massive amount of money soon. This aligns with his assertion that Bitcoin will reach $1 million in the mid-term and will go higher over time.
Million-Dollar Projections for Bitcoin
For Bitcoin to be expensive for millionaires, it would have to be worth at least $1 million. Interestingly, the Bloomberg Terminal is already scaling Bitcoin’s price in millions per coin, further solidifying a broader market projection that the premier asset would attain the price mark soon.
Meanwhile, Binance co-founder Changpeng Zhao suggested that we will not wait long before Bitcoin reaches $1 million per coin. He projected that it would happen this bull cycle, aligning with an outlook from BTC Inc.’s Brandon Green.
Further, analysis from Cathie Wood’s Ark Invest projects a rally to $1.5 million by 2030 in a base case and an impressive $2.4 million in a bull case. The report cited growing institutional and nation-state involvement as major catalysts.
However, for Strategy’s executive chairman, Michael Saylor, Bitcoin is going to an ambitious $13 million price mark. He recently noted that he is now more bullish on the target’s actualization by 2045, citing hastened institutional adoption, supply squeeze, and regulatory clarity.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
