Here’s how many BTC addresses are “rich” according to Charlie Munger’s definition

At one of Berkshire’s world-famous annual shareholder meetings in Omaha in the late 1990s, Munger said, “The first $100,000 is ab——, but you have to do it.”

“I don’t care what you have to do. If it means walking everywhere and not eating anything that wasn’t bought with a coupon, find a way to get $100,000,” he pointed out.

To date, in the Bitcoin economy, there are over 450,000 BTC addresses that hold $100,000 or more worth of Bitcoin at current crypto exchange prices.

More than 450,000 BTC addresses above $100,000

As the year turned to 2024, the total number of Bitcoin addresses holding BTC worth $100,000 or more surpassed the 450,000 mark for the third time in the asset’s short history.

The first two times the Bitcoin market and economy reached this milestone were during the mid-2020 tapering supercycle, in February and October 2021.

Also, the Bitcoin economy seems to be rather egalitarian for a high-speed, high-tech financial network. Of the 19.7 million BTC that the network has already mined, individuals hold more than half: 11.97 million. This is according to data from Bitcoin Treasuries.

Blockchain watchers believe that Satoshi Nakamoto, the mysterious creator of Bitcoin, owns about 1.1 million BTC. Meanwhile, governments own about 565,000 BTC and hedge funds and ETF issuers own about 818,000 BTC.

Here’s how many are millennials

Based on survey data, here’s how many of those addresses may belong to Millennials. This is the Echo Boomer generation that arrived between the years 1981 and 1996.

According to survey data released by Bankrate in May, about 57% of total crypto ownership is made up of Millennials.

So at August BTC prices, there could be as many as 256,500 Millennials worldwide who are in the Bitcoin double-comma club. Of course, if the largest digital asset continues to appreciate in the crypto exchange markets, this number will likely increase.

In July, CNBC published seven tips on how to make $100,000 in a year.

Briefly, they are: Budget to save and automate your plan while maximizing employer-matched savings contributions. In the meantime, CNBC says you need to pay off debt quickly, save for tax refunds and work bonuses, and do whatever you can to increase your income.

After saving the first six figures, “You can ease off the gas a little bit,” Charlie Munger said.

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