Topic: Can owning 1 Bitcoin make you rich in 2023? - page 6. (Read 883 times)

It depends.

Assuming someone is not rich but poor and has just little amount of money to invest and the money is not enough to make the person have financial freedom. You can invest less than $50 in bitcoin, but I do not think that can make anyone to have financial freedom even during bull market.

Although, those that invested in bitcoin earliest and those that were miners with just their laptop or desktop computer in the past were able to become rich, but even money is required to get a laptop and to also invest.

Bitcoin is still a speculative asset in short term, but a store of value in long term. People that invested a year ago or two years ago are still not having net profit by now. If they have not sold their coins, and they bought it at $50000, they are still in unrealized loss by now. Although, bitcoin can get to all-time-high and they will later make money but it has been long that bitcoin was below $50000. Some people even panicked and they have sold their coins.

Obviously Satoshi Nakamoto's revolutionary invention Bitcoin is the main purpose of spreading economic freedom. Bitcoin is definitely capable of providing financial freedom through decentralized systems from the monotony of conventional banks and governments. Whether you call it a child's dream come true or not, is up to you.

The financial freedom context of bitcoin is make a decentralized finance system all over the word, its main purpose is to eliminate the inflation of fiat currency and the government control and bank control over it.

This really depends on what you mean by being rich. YES, for me Bitcoin can give financial freedom. But note that this may be a long-term investment so patience is required also depending on your risk appetite, you can invest more.

Well, well, well, it sounds like you caught the Bitcoin bug! Congratulations, my friend, you're now officially part of the decentralized digital currency revolution. In just a few short years, the rise of Bitcoin has transformed the world of finance, giving individuals the power to take control of their financial destinies because with Bitcoin, the sky's the limit and the only thing standing in your way of success is your own imagination.


I think it's common for parents to work hard and not all have the chance to enjoy their life to the fullest, but they do it to provide for their children and give them a good childhood. While this may be hard to see, try to use their example as motivation to create a better life for yourself. You don't have to stick to a traditional 9-to-5 work routine if it just doesn't work for you.


And as for whether Bitcoin can give you the life you dreamed of as a child, my opinion is Bitcoin is just one tool that can help you achieve financial freedom. Financial freedom means having the ability to make choices about how you live your life without being constrained by financial constraints. In the context of Bitcoin, this can mean having more control over your money and being able to manage your finances independently from the government or financial institutions.

Yes it depends on the country you are , but here in Africa I think owning 1BTC will make you relatively rich or even rich, Surviving on 1 BTC for a decade  isn't a good idea in this part of Africa unless you have other source of income backing up the BTC,
1 BTC will raise your standard of living in some countries and not making you reach so it all depends on the country you are.

So far, 2023 looks very bullish, and who knows, maybe we will see very good growth this year. But most likely, bitcoin will reach peak values in 2024-2025. The issue of wealth is very interesting, because for someone 100k is already a good state in which a person will consider himself rich, and for someone the amount should be much larger, so it all depends on what it means for the OP to be a rich person.

1 BTC won't make you truly rich, even if it moves to $100K be the EOY. IMO, I think you can be called rich if you can live without work and any income for 5 years or so, and you have where to live and, if you need to, what to drive.

Simple owning wont make you rich. The main reasons are paying taxes and the way Bitcoin owner gonna turn crypto into fiat. These steps can take a huge part of bitcoin owners fortune. Dont forget that one quarter of 2023 has already passed, and in time measurement, 9 months is a short period for cryptocurrency. And like people said, a lot depends on country bitcoin owner is located. If we take current price of $30k, then in one country you can live for years, in other it will be enough for few months. Do you know that among all address that hold bitcoin, there are almost a million of them who hold 1 BTC. That might indicate that owning just one bitcoin isnt enough to be considered as rich.

Having 1 Bitcoin can make you rich beyond 2023, if you already have 1 Bitcoin it's better not to target 2023 because we are already in 2023 and this year is a bear market still, do not have such expectations yet.

If I were in your shoe, my target will be 5-10 years from now, but still, you will make some profits in 2025 because that's when I expect Bitcoin to make a new all-time high again.

In several countries 1BTC is already considered a huge amount, but for countries like US or the first world countries, they'll just consider that as a decent amount of money though it is still arguable. Well, I could say that since, if we talk about 1BTC here in our country, you are already considered a millionaire, but in your countries that is mostly your annual income, while here? our annual income couldn't even reach 1/4 in your country. So in the end it's not that you will be rich automatically but that is already a huge money to everyone, and knowing the possibilities and potential of bitcoin, 1BTC can greatly change your life in the future not only in 2023.

It depends.

If you're live in developed country like US, owning 1 Bitcoin will not make you rich because the yearly average salary in US is around $60K-$100K, owning 1 Bitcoin is only $30K where they can get it after work for at least 3-6 months.

If you're live in third world country, owning 1 Bitcoin will make you rich because the yearly average salary in there mostly around $6K, owning 1 Bitcoin is same like working for 5 years.

It depends on the kind of life you dreamt of while you were still a child, because 1 Bitcoin is quite a huge sum of money now (i.e $29,985), good enough to establish any type of business you may wish to kick-start, build a house and live an okay life, in as much as you utilize it very well.
Secondly, financial freedom according to the context of Bitcoin is an individual's ability to be in charge of his/her own funds at all times, which the govt nor centre banks has no control over it.  

Owning one whole bitcoin might not make you rich in 2023, but it has got potential to grow in the long run. Maybe after a decade or you, so might be rich enough to not worry about paying the bills. The Markets can be crazy though, with no guarantees. You might also have less that what you have after a decade.. you never know.
Financial freedom means you have enough money never to worry about meeting your basic needs and being able to lead a decent life without any issue. I don't know what it really means "in context of bitcoin", but I guess its you having a lots of bitcoin that can help you cover all your bills and needs no matter is the market is going down or up.

One BTC ie the current market value is $29.9K something. In the current market context, the market value of one BTC is high. That is, if you convert one BTC to local currency of your country, you may be included in the list of a rich person. 

However, if one BTC can be held until the end of 2023, then the market value of BTC can be expected to increase significantly from the current market value. Because if we look at the Bitcoin market two to three months back then the price of Bitcoin was relatively low. And in the span of two to three months, the market has moved from that state to a better state, so it can be expected that the market will be more positive by the end of 2023. 

In practical terms, 1BTC is many. If you can risk one btc then investment is ok for you. Because the market will not only grow after you invest. You have to hold one BTC by taking into account everything that can happen in the market and accept the risk.

But you didn't say what amount of money a person is called a rich person in your country. There are many categories of rich, we hope to hear from you which category you are interested in becoming rich.

Financial freedom can be consider in many ways such as you don't even need to work your ass off just to get income since you have business or having a well paying job that it can support you for more than months. I think when you doesn't need to think of money when you're buying things and when emergency you always have the funds. But when it comes to financial freedom in Bitcoin, it an easy concept of you have the control whether you sell or invest your Bitcoin unlike the two which they control you assets with taxes. With its current of Bitcoin, of course you can be called rich since with that amount of money you could do a lot of things or even survive for a long period of time. Only if you sell your Bitcoin because if you only hold your Bitcoin. Bitcoin itself still hasn't used around the world for you to be recognized rich by people is by selling it. Its still up to you to hodl or invest the Bitcoin you have.

according to my personal experience and opinion, the financial freedom that can be taken from the results of investing in bitcoin is basically you can make money without any interference from government power, and you have power over the income you have.

And about whether you can be happy by owning one bitcoin or not, this also has a complex answer. If you look at it from a positive (profit) perspective, you might be happy, especially if your country has money with a fairly large exchange rate, if converted from dollars. But buying one bitcoin for now is expensive, so if you can buy one bitcoin, without borrowing money, it means you are a person who is quite capable financially.

So basically having one bitcoin can make you happy, "if you experience profits and if the value of your country's currency is lower than the dollar".

I agree with you, when people listen to the term financial freedom they think of an affluent person which can afford to buy whatever they want without any problem.

And while that is without a doubt one of its definitions, when it comes to bitcoin this is not really what we mean, what we mean is that we are simply free to use our money as we want, after all it is common in many countries that if you go to your bank to get some of your money then you are asked all kind of questions about why that is the case, but why would anyone be subject to such an interrogatory when they just want to have access to their own money? Bitcoin allows you to have complete control over your coins, and if you want to keep them or spend them all that is your choice and no one will try to stop you from doing so, that is the financial freedom we want and we expect out of bitcoin.

It doesn't mean that you own 1 bitcoin and are rich because you still need to earn. I mean that 1 BTC will be gone if you just keep spending it; you should also earn it, and it is better that you earn than spend because it will accumulate over time. As long as you stay your wealth or your worth is 1btc then i would say that you achieved your dream that you are dreaming since child.  But right now, others purchase bitcoin to hold over the year, which they are looking to profit from and maximize the bitcoin.

Others may not agree with my opinion, but I think financial freedom in the context of Bitcoin doesn't have anything to do with having much money you don't have to worry about it anymore. I think financial freedom in Bitcoin's context is that you are no longer dependent on the abusive banking system. You no longer suffer from the flaws and the fraud of fiat as far as your finances are concerned.

It isn't about getting rich. It is about emancipating yourself from traditional finance. It is about being free from the constant devaluation of fiat, from its mismanagement, from the need to trust them and being disappointed in the end.

There is no doubt that Bitcoin has changed the lives of many people but mostly those who invested in it in the beginning when no one knew that the price could go so high. Because the price of Bitcoin was very low in the beginning and Bitcoin was within the reach of almost everyone. Where for a small amount you could get hundreds  of bitcoins. At the current price of Bitcoin, it is not easy for everyone to acquire a large number of Bitcoins. But still if some one has the capital, he can get rid of many deprivations in his life by investing in Bitcoin. But now investing in Bitcoin will require a good amount of capital. You can't change your life with just one bitcoin.Because even if the current value of Bitcoin is four or five times higher, one Bitcoin cannot change anyone's life.Instead if you invest one bitcoin money in some small and good cryptocurrency, it can play a very important role in changing your life.Because this is one place where small investors can expect a big return.