Cryptocurrency is full of highs and lows, if people could have predicted the future ten years ago, I am sure that all of them would have invested in Bitcoin. If you got in early, you would be very happy right now but if you joined the crypto train late, it’s likely that you are in the red at this point in time! If you are wondering who owns the most Bitcoin? Let’s look at that question a little closer. Block one are a Chinese corporation that owns 140,000 Bitcoin, which is around 0.667% of the total supplier. There are other people and companies who have huge amounts of Bitcoin but before we get into that, I want to share with you my own story, how I see the crypto market right now, and where it is likely to go in the future.
I was one of those people who thought that investing was too risky and that was largely because I did not know enough about it. But when I looked at the money I was wasting every month on takeaway coffee, takeout, clothes I didn’t need, and alcohol – I decided to look at things a little differently. A friend actually recommended investing to me in 2018 and he specifically said that Bitcoin was the right choice. I didn’t have a clue about it of course so I looked into it and discovered that Bitcoin is a digital currency that operates free of control from the government and banks. I work in computers and I had seen the evolution in technology throughout the years so after researching Bitcoin, I could definitely see its appeal. I had a little bit of money put away and I decided that instead of it earning barely anything in the bank, I was going to put it into Bitcoin to at least give it a chance to grow. At the time I bought, Bitcoin was $4800 and I was able to buy one and a half shares. I did not know what would happen but based on the historical data of Bitcoin, I hoped that it would rise and it did.
Investing in crypto, made me handle money better in other areas of my life too, it was sort of like a domino effect. I quietly watched the market and was amazed at what happened to Bitcoin, especially in 2021, when it reached over $40,000. I sold one-half of a share and used the money that I made from the transaction to pay off some debts that I had accumulated when I was younger. I left one share in Bitcoin but of course, recently the market has had a crash and my Bitcoin is now worth $16,452 – which was still a lot more than I bought it for. Hindsight is a funny thing and lots of people told me that I should have sold everything last year but I don’t agree. Bitcoin, and the entire stock market, might be down right now but I am confident that it will come back up again and even reach new highs eventually. Until then, I am living a comfortable life with a good job so I am not going to worry about it too much!
Now going back to the topic of who owns the most Bitcoin? Let’s take a lot at some of those people, and also people who became unbelievably wealthy thanks to cryptocurrency. There are 174,068 Bitcoins that are owned by private companies and this accounts for around 0.204% of the total supply. Roger Ver is a man from San Jose who become a supporter of Bitcoin way back in the beginning when hardly anybody had even heard of it. Although he was not born into wealth, he made a staggering $520 million from his Bitcoin investments and he now lives in Tokyo. Rachel Siegel was a substitute teacher in New York City and after stumbling into a conference on crypto in 2017, she decided to put every bit of spare money she had into Bitcoin. Although she did not disclose the exact amount she made from Bitcoin, the fact that she has bought a condo in the Caribbean and is not a “crypto influencer”, should show you that she made plenty!
Last but not least, a man called Kane Ellis from Australia. He is a self-confessed nerd and actually started mining Bitcoin when it was very new when he was 18. He got scared and sold a lot of Bitcoin for way less than he should have but he has also made a lot from crypto and still holds a large amount today. His success has allowed him to start his own business and his advice to investors is that Bitcoin, and any other cryptocurrency that you believe in, should be seen as a long-term hold. There are no doubt many people out there who held a large amount of Bitcoin after buying it when cheap, and they probably sold much earlier than they should have and that is because nobody knew quite how high it would get. There have also been stories of people losing hard drives where there are millions of dollars worth of Bitcoin stored!
If you are not sure about investing because of the recent stock market crash, I recommended that you zoom out and look at the bigger picture. The economy is bad right now but it will recover and when it does, the stock market will boom once again. It could be months or it could be years, nobody can know for sure. There are lots of different options for investing and Bitcoin might not have reached the bottom yet so it is up to you exactly WHEN you decide to invest. Make sure to do your own research when deciding where to put your money but I think you can’t go wrong with investing in Bitcoin.
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