Many fans ask me if it’s too late to accumulate Bitcoin now that the price is so high. So today, let’s talk about whether it’s too late to accumulate Bitcoin now. When we first started accumulating Bitcoin, we always felt like we were late and couldn’t accumulate anymore, which is normal based on the current price of Bitcoin.
Especially when compared to those who accumulated coins early. I feel the same way. But looking at the huge vision of Bitcoin, and then looking at online comments, and then looking at the bustling crowds on the street, I know it is still very early; the mainstream public has not really understood it yet. There are less than 800,000 addresses with more than 1 Bitcoin. This means that the number of people who own 1 Bitcoin will not exceed 800,000, because one person can own multiple addresses at the same time. You might say that there are probably more people who own 1 Bitcoin. Because many people put Bitcoin on exchanges, the Bitcoin in one exchange address actually belongs to many people. But we must remember, if you do not control the private key, you do not own Bitcoin.
Those who put Bitcoin on exchanges never truly owned Bitcoin.
As long as they don’t withdraw, they will eventually sell it or lose it, so there’s no need to consider them.
Therefore, now, those who hold 1 Bitcoin in cold wallets are absolutely rare.
99% of people do not have 1 Bitcoin, nor is it possible for them to own 1 Bitcoin. Because the total supply of Bitcoin is limited, I predict that the final number of people who can own 1 Bitcoin will be about 800,000.
(The total supply is 21 million, but it cannot be evenly distributed.) If you go down, others will come up, and you may never be able to come back up.
In fact, many early adopters also do not own Bitcoin.
In other words, being early often doesn’t help.
The most famous example is the 480,000 brother.
When I started accumulating, many people had already turned from fans to critics. Why did they turn from fans to critics?
It is said that he missed the opportunity. At first, he was in the car, boasting about Bitcoin to everyone he met. Later, when the price rose several times, he couldn't help but sell, and then the price never returned, never coming back up again. So he had to criticize it hard. Do you see it?
The ones who criticize Bitcoin the most are not those outside the circle, but those who sold their Bitcoin.
I entered the crypto space in 2019 and only started accumulating Bitcoin in 2020. Many people have more Bitcoin than I do.
At that time, I thought my only advantage might be long-term holding.
Those who are wealthier and have more Bitcoin than I do may choose to cash out at some point.
Therefore, the most important thing is to protect yourself, don’t actively cash out, and don’t passively cash out.
Active cashing out means selling Bitcoin, lending Bitcoin to others, or investing Bitcoin in others.
Passive cashing out means losing the private key. I think the most successful thing I’ve done is to control my own Bitcoin.
I won’t keep my coins on an exchange, I won’t hand my coins to others for investment, and I won’t use coins for investment (of course, investing in fiat currency can be considered). In other words, my coins are continuously increasing, although the rate of increase is much slower than before.
However, growth is always better than stagnation or decline.
Learning is like rowing upstream; not to advance is to drop back. Accumulating coins is like sailing downstream; if you don’t retreat, you will advance. Those who blindly struggle usually capsize, and I hope that in ten years, we still have coins in our hands.
