Charlie Munger, the founder of Berkshire Hathaway, is also known as Warren Buffett's "behind-the-scenes brain trust" and "final secret weapon". Munger once proposed that the starting point for getting rich is to accumulate $100,000. This concept does not seem to be difficult to achieve in the field of Bitcoin. Here is how many Bitcoin users have reached this level.
Currently, there are more than 450,000 Bitcoin addresses with holdings that meet or exceed this wealth standard, with each address holding at least $100,000 worth of Bitcoin based on current market values.
This shows that in the era of digital currency, a considerable number of users have achieved the initial wealth accumulation goal mentioned by Munger.
Bitcoin Wealth Distribution Reaches New Heights
As we enter 2024, the number of Bitcoin holding addresses worth more than $100,000 has exceeded 450,000 for the third time. The growth in this number marks a significant accumulation of wealth for Bitcoin holders, with the previous two times reaching this milestone being in
During the 2020 Bitcoin halving cycle and in February and October 2021.
Moreover, for a high-speed, high-tech financial network, the Bitcoin economy is remarkably egalitarian: of the 19.7 million Bitcoins mined to date, more than half, or 11.97 million, are held by individuals, according to the Bitcoin Treasury.
In addition, the original miner of Bitcoin, Satoshi Nakamoto, is believed to hold about 1.1 million BTC, which has not been moved to date, becoming a mysterious part of Bitcoin history. Government agencies hold about 565,000 Bitcoins, while hedge funds and ETF issuers control about 818,000 BTC. These data reveal the distribution of Bitcoin among different holders around the world, showing its appeal and influence as an emerging asset class.
The rise of millennials in Bitcoin
Surveys show that Millennials (those born between 1981 and 1996) account for a significant proportion of Bitcoin holders. According to a Bankrate survey in May, approximately 57% of cryptocurrency holders belong to this young group.
Based on this ratio, combined with the price of Bitcoin in August, it can be estimated that up to 256,500 millennials around the world have joined the ranks of Bitcoin investment. It is worth noting that if Bitcoin, the largest digital asset, continues to appreciate in the market, this number may rise further.
In addition, CNBC shared seven tips for making $100,000 in a year in July, including creating a budget, automating your savings plan, maximizing your employer's savings match, paying off debt quickly, saving tax refunds and bonuses, and increasing your income as much as possible. These strategies are not only a way for millennials to accumulate wealth, but also an important step to achieve financial freedom.
Charlie Munger once suggested that after accumulating the first six figures of savings, people could slow down a bit and enjoy the fruits of their labor, which also provides a concept for millennials to balance life and work while pursuing financial goals.
Conclusion:
Charlie Munger guides investors with his unique financial wisdom. He emphasized that accumulating $100,000 is the first step to achieving financial freedom. This concept is proven in the Bitcoin space, with more than 450,000 Bitcoin addresses currently holding this amount or more. This not only demonstrates the significant accumulation of wealth among Bitcoin holders, but also reflects Bitcoin’s attractiveness as an asset class and equal wealth distribution.
Among them, millennials play an increasingly important role in Bitcoin investment. According to a survey by Bankrate, 57% of cryptocurrency holders belong to this group. As the value of Bitcoin increases, this number is expected to continue to grow.
Finally, based on the financial advice provided by CNBC and combined with Munger's financial philosophy, we can see that Bitcoin seems to provide a clear path for millennials to enjoy life and achieve a balance between work and life while pursuing wealth.