Pi Network - auto mobile mining: Join now and be one of the pioneers!!

Blog

The number of millionaires has risen by 1.1 million in 2018, bringing the total amount to 46.8 million. That’s more than twice the number of Bitcoins that can ever be mined.

According to Credit Suisse Group AG’s latest global wealth report, 1.1 new millionaires were made last year alone. This brings the total number of millionaires in the world to 46.8 million — with $158.3 trillion in net assets.

The United States contributed the most to that list, with 675,000 new millionaires.

Gabor Gurbacs, the digital asset strategist and director at VanEck, pointed out that, when a high percentage of the population suddenly become millionaires, it is a sign that money is “on a solid path of devaluation.”

With the current trend, the number of millionaires would grow to almost 63 million by 2024. An infinite supply of money and the ticking timebomb of $246.5 trillion in global debt have made all of this possible. The U.S. Federal Reserve has been printing money like there is no tomorrow. Since September, the Fed has injected more than $210 Billion into the economy.

Federal Reserve

Federal Reserve

Unsustainable Debt and Currency Printing

This unsustainable model of printing more money has led to the creation of more millionaires. However, the market always corrects.

A massive currency devaluation could wipe out the confidence in monetary policies and bring back the gold standard. As investors flock to alternate asset classes, Bitcoin is one of the most attractive — as it is provably finite and not controlled by any country.

bitcoin vs dollar

bitcoin vs dollar

Not Enough Bitcoins to Go Around

However, there are not enough Bitcoins for everyone out there. With a cap of 21 million coins, Bitcoin miners recently mined the 18 millionth coin. The increasing number of millionaires cannot all own a single Bitcoin. In fact, if the total supply of Bitcoins had to be split between millionaires, they’d get less than 0.4 BTC each — and that isn’t even taking into account the number of bitcoins that have already been permanently lost or destroyed.

What do you think about the ratio of bitcoins to millionaires? Let us know your thoughts in the comments below. 


Images courtesy of Twitter.

No Comments

Be the first to start a conversation

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Categories

Pi Network - auto mobile mining

Become one of the pioneers!!

Random Posts

DOWNLOAD MY EBOOK FOR FREE

"Your Headline Here How I Made $4947 In 1 Month"

Lorem pretium lorem orci elit nunc imperdiet nec vel sit pretium hendrerit amet nec orci gravida gravida sapien purus massa

Quick Bio About Me

mypicmeLorem proin accumsan accumsan volutpat ut nullam odio eleifend libero quisque ipsum gravida eleifend dolor nunc sagittis venenatis orci eleifend lorem quisque venenatis non sagittis sagittis ipsum nunc.

lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris ornare congue lacinia auctor lorem quis quis lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris

Resources

  • Resource 1

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

  • Resource 2

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

Random Blog Posts

© 2020 Cryptoracle.info - Crypto News