We all just get $71.07 of Bitcoin…
Time for some numbers (I’ll get to the $71.07…)
21,000,000
That’s all the bitcoin there ever will be. Bitcoin is capped at this total.
19,400,000
That’s the amount of bitcoin that has already been mined. The rest will be fully mined in 2140.
100,000,000
That’s 100 million. A bitcoin =100 million satoshis (also known as “sats”). Satoshis are the smallest unit of bitcoin.
262,500
That’s the amount of sats we’d all have all 21 million bitcoin was evenly handed out to all 8 billion of us earthlings.
$71.07
That’s how much 262,500 sats were worth on June 6th, 2023.
(thanks to @anilsaidso for providing this free graphic)
This takes me to “Scarcity”. It’s an essential concept in Bitcoin. Bitcoin is scarce. There will only be 21 million ever created. Many have estimated that over 3 million have already been lost forever in many ways.
The US Dollar is not so scarce, and more dollars are being created all the time.
There were only 1,000,000,000,000 (1 trillion) US dollars in 1975
Then 5,000,000,000,000 (5 trillion) in 2001.
Then 15,000,000,000,000 (15 trillion) in 2019.
Then 21,000,000,000,000 (21 trillion) just 2 years later.
On the other hand, Bitcoin may be the scarcest asset ever created. But there is still time to at least get your fair share and more.
So, it is still not too late to get started owning some Bitcoin.