I've seen some predictions that Bitcoin is going to 1M USD eventually. If so, then everyone should buy Bitcoin and become millionaire eventually, right? Well, let's do some math for starters.
Right now BTC is sitting around 54k USD. In order to reach 1M USD per BTC it has to increase 18.5 times. Possible? Who knows. Given the amount of media attention it gets, anything is possible.
But remember, in order for someone just starting in crypto today eventually to become Bitcoin millionaire, one has to buy at least 1 BTC at the price of 54k USD. THEN, if the price some day goes to 1M USD, they will become Bitcoin millionaires.
54k USD is a lot of money for regular people and not many can invest that much, at least straight away, especially knowing the general financial advice not to invest more than 10% of your total wealth. So a person has to have 540k USD total in order to feel relatively safe to invest 54k USD. That's almost half a million dollars!
Let's go back to our math. Let's say a person could have 1k USD for investment purposes, which is much more realistic scenario for more people. If one buys 1k USD worth of Bitcoin right now, and if BTC eventually hits 1M USD, then their investment would be worth 18.5k USD.
Even though it looks like a lot, it's far from enough in making a person a Bitcoin millionaire.
Let's look at LEO for a second. Right now the price comfortably sits in 1 USD price range. Imagine someone buying 1000 LEO right now with 1k USD. If it were to rise 18.5x to 18.5 USD per LEO, this investment would be worth 18.5k USD.
For early Bitcoin investors, it's a no-brainer. If you already have a few Bitcoins in your portfolio which are hodling over the years, it is a very solid investment. But for somebody new, it might not be so.
A new investor has to ask themselves, what coin has more potential to appreciate in price 18.5 times faster - BTC or LEO? In other words, what would happen first - Bitcoin hitting 1M USD or LEO 18.5 USD?
What are your thoughts?