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How many Bitcoins do you need to have to be part of the richest 1% group?

February 22, 2020

How many Bitcoins do you need to accumulate to be part of the select group of people who have the most cryptocurrency? For BlockWorks Group analyst, Jake Levison, only 0.28 Bitcoins (BTC) is needed to be in the 'richest' 1% group in the world (in terms of BTC).

Bitcoin is kept by an open and unalterable log book – the Blockchain . For this reason, it is possible to study the distribution of digital assets among wallets and study the movements of Bitcoin transfers in the network.

The data Bit Info Charts suggest that 2% of all addresses have 1 BTC or more, but this does not mean that 2% of investors have this value because one person can have several wallets – the exchanges, by example, they have thousands.

How many Bitcoins do you need to have to be part of the richest 1% group?How many Bitcoins do you need to have to be part of the richest 1% group?

For Jake Levison, with 0.28 BTC you are already part of the 1% group of people who have more Bitcoins:

“If you own 0.28 BTC, you are statistically guaranteed that you are in the richest 1% of the world in terms of BTC. Accumulate sats, family!”

While Levison's post has unleashed a wave of euphoria in the community, it has also raised some counterpoints.

One of his followers cited an article by Parker Lewis of Unchained Capital called “Bitcoin Obsoletes All Money”, in which he states that this could be so around 2030 – when the average bet, according to the author's estimates, will be 0.01 BTC and there will be one billion users on the network.

Levison explained his reasoning:

“My tweet said that if you have 0.28 BTC, only 1% of the world can have more than you. That puts you in the top 1%.”

Of course, this implies an unfair distribution of wealth, since “whales, scammers, nations and institutions” have the largest portfolios in the network.

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