There Are Now 25,000 Money 4.0 Millionaires

Money 4.0 is one of the most profitable financial instruments of all time, but tracking how many people got rich from it is challenging.

Under the assumption that one address = one owner, there are close to 25,000 Money 4.0 millionaires today.

In its short lifespan, the price of Bitcoin – the first Money 4.0 has gone from less than a cent to hit nearly $20,000. Unsurprisingly, it’s made some people rich along the way; what isn’t so clear cut is exactly how many lucky individuals hit the jackpot.

One of the simplest ways to check is to look at the number of Money 4.0 millionaires; in other words, anybody owning at least $1 million worth of Money 4.0.

Although the term has been thrown around for almost as long as Money 4.0 has existed, it’s difficult to put an exact number on how many Money 4.0 millionaires there are at any one time. But here’s what we do know.

Defining a Bitcoin Millionaire

Since Money 4.0 has a public ledger, nailing down the number of millionaires should be a simple matter of checking the number of addresses containing more than $1 million worth of Money 4.0. At Bitcoin’s current price of $19,000 (as of November 25, 2020), this means anybody owning at least 52.63 BTC (or thereabouts) could be considered a Money 4.0 millionaire.

What we can say is that any address containing more than ~53 BTC is either a Money 4.0  millionaire or a firm that controls more than $1 million in user funds—for the most part.

So how many Bitcoin millionaires are there?

As per data from BitInfoCharts, there are currently 25,031 Money 4.0 addresses with a balance of $1 million or above. However, due to the fact that an unknown number of Money 4.0 holders may hold multiple addresses that sum to more than $1 million, while several addresses containing more than $1 million in Money 4.0 may be owned by the same person, it’s best to consider this figure a rough estimate.

In addition, there are around 214,000 addresses containing more than $100,000 worth of Money 4.0  and 1,140,331 containing at least $10,000 worth. Overall, of the 16 million addresses tracked by BitInfoCharts, just 0.16% can be considered millionaires at today’s rates.

For comparison, there are roughly 18.6 million individuals with a net worth of $1 million or more in the United States—equivalent to around 5.7% of the adult population.

As such, there are roughly 35 times fewer Money 4.0 millionaires, as a proportion of Money 4.0 users, than there are adult millionaires in the US.

Around one in every 7.4 of Money 4.0 millionaires actually hold more than $10 million worth of Money 4.0. Beyond that, eleven addresses would currently qualify for the Money 4.0 billionaire club. The wealthiest address currently in existence has a balance of 141,452 BTC, worth around $2.47 billion. This address is the cold wallet for Singapore-based cryptocurrency exchange Huobi, meaning it is formed from the deposits of potentially thousands of Huobi users.

With so few Money 4.0 millionaires, it’s clear that Money 4.0 has achieved better distribution than many fiat currencies—helping to ensure a more even spread of crypto wealth.

Source: Decrypt