How Much Bitcoin Should I Own to Care About the Industry?

How Much Bitcoin Should I Own to Care About the Industry?

Is there a minimum amount of Bitcoin you should hold to truly care about the cryptocurrency industry? 

How much Bitcoin should I own?

There is no specific amount of Bitcoin that is considered to be a “minimum” investment for closely following the industry’s updates.

However, it has been calculated that each millionnaire would only be able to own 0.32 BTC if all bought some.

Therefore, if one needs to be given a certain number of Bitcoin to hold, this would be a great place to start.

After that milestone has been reached, you could go as far as owning a whole coin.

Is it possible to buy less than one Bitcoin?

Yes, one Bitcoin is dividable in 100.000.000 Satoshis, which form the smallest division unit of a Bitcoin. This means that you can buy as much Bitcoin as you want, and not only whole coins.

How many Bitcoins do other, popular investors hold?

There have been many talks on the amount of Bitcoin that Satoshi Nakamoto holds. It is estimated that the coin’s creator holds anywhere between 300.000 and 1.000.000, which at the moment of this writing translates to $2.7-$8.8 Billion USD respectively.

Now let’s talk about a couple more examples:

Barry Silbert, the founder of Digital Currency Group, reportedly purchased 48,000 BTC in a U.S. Marshall action. The large amount of Bitcoin was seized from Silk Road, which was the most popular marketplace of the dark-web. What is most amazing to note is that Barry purchased those coins at a mere 350$ each. 

Popular venture capitalist Tim Draper, purchased 29,656 BTC in a US court Marshall auction, for $632 USD each. The value of his investment is currently sitting at $107 million.

You can find out a lot more with regards to the most popular (and young) Bitcoin millionaires, by checking out this article.