Owning Bitcoin is something anyone can do in this day and age. Judging by the statistics, a lot of people are effectively interested in exploring this option. More and more addresses now hold at least 0.1 Bitcoin, worth over $1,090 at current prices.
A Growing 0.1 Bitcoin Club
It is pertinent to diversify one’s portfolio during times of financial uncertainty. Sticking to traditional options, such as savings accounts, stocks, and bonds is simply not a viable course of action right now. All of those options will eventually cost people money, instead of maintaining value or even appreciating in price.
Considering how Bitcoin’s smallest unit – a Satoshi – is 1/100 millionth of a full BTC, there is no reason not to own any. At the current rate, 1 Satoshi costs $0.00010413. Considering how US Dollars only have limited divisibility, owning 100 Satoshi is the best option. That rounds the price to $0.010413.
Even putting a full dollar into Bitcoin is worthwhile. It will only get you roughly 10,000 Satoshi, or 0,0001 Bitcoin. Owning such a small amount can effectively make a difference for an asset with only 21 million full units ever available.
Keeping this in mind, it is not entirely surprising to see people take a bigger plunge. Those in the US who receive a stimulus check earlier can easily convert it to own a bigger chunk of one Bitcoin. Judging by the number of wallets owning at least 0.1 BTC, it seems a fair few people have taken this course of action recently.
At this time, 3,144,371 addresses own 0.1 Bitcoin or more. A strong increase by 191 addresses compared to two days ago. The current figure is an all-time high, although one likely to be broken in the near future. All of these addresses combined represent over 314,000 Bitcoin, or nearly 15% of the entire Bitcoin supply to ever be created. Being part of this club is more elusive than one may think.
Bitcoin Goes up Instead of Brrrrr
There are key differences between Bitcoin and traditional money. The latter is issued by central banks and can be injected in unlimited quantities. More numbers printed on paper does not represent more value, even though many people seem to be thinking along those lines. Bitcoin, with a capped supply, introduces more value for every BTC created due to its native scarcity.
When a central bank prints money – or goes Brrrr – it effectively devalues the existing currency in circulation. There is only value to the money that can be redeemed in a guaranteed way. Unfortunately, printing more money adds more debt, and there isn’t enough money to cover all the debt in the world.
Bitcoin, on the other hand, has no “debt” aspect, and serves as a deflationary currency. It’s not difficult to figure out where to put one’s money. Buying 0.1 Bitcoin or more is a solid idea.
Luke has had a long interest in financial technology, especially cryptocurrency and blockchain. With a Bachelors degree in Journalism and Media, Luke is dedicating his writing skills for the digital currency sphere.He can be contacted at email@example.com