Listen to this secret before it gets out-Buy it before it’s gone!
With the holidays just around the corner, I am reminded about how there’s typically a toy or product marketed to kids forcing parents to scramble and purchase or overpay for said item. Cabbage Patch Kids, Furbies, Tickle Me Elmos, Beanie Babies have all attracted massive buying hysteria in my lifetime.
What will happen when this type of hysteria applies to one of the rarest digital items in the world-Bitcoin? I guess that the digital store of value will see price squeezes so much higher that it will leave people lamenting: “I remember when Bitcoin was $50,000,” or, “I sold my Bitcoin for $65,000,” or, “I was going to buy it at $70,000 but wanted to wait for the price to go back down.”
That got me thinking, “Just how rare is Bitcoin?” We know the max supply is 21 million. But nowadays, large numbers get thrown around so commonly, it’s hard to identify just how big a number is.
There are 7.8 billion people on earth. The latest US stimulus is $1.5 trillion. The average home in the US costs $375 thousand. Dinosaurs went extinct about 65 million years ago.
These numerals become abstract and it’s hard to grasp how big/small they are relative to other numbers.
How Rare is Bitcoin
Here are some different comparisons illustrating how rare Bitcoin is.
- If every person in São Paulo, Brazil wanted to buy 1 Bitcoin, it would exceed the total supply.
- If 1 out of every 4 people who watched the Super Bowl this year wanted 1 Bitcoin, it would exceed the total supply.
- If 10% of all Netflix subscribers wanted to buy 1 Bitcoin, it would equal the total supply.
- If every baby born worldwide in the next two months was given 1 Bitcoin, it would exceed the total supply.
- If every car sold worldwide was replaced with a Bitcoin sold, the Bitcoin supply would be gone in a little over 3.5 months.
- If every red-headed person in the world wanted to buy a Bitcoin, the supply would be depleted before 1 out of 5 of the redheads could secure them.
- More iPhones are sold in 1 month than the total supply of Bitcoin.