Topic: What happens if bitcoin price hits 6 figures and up? (Read 487 times)

This will definitely happen, we just need time and that time will definitely come as the Halving period in April approaches. Yesterday the price of bitcoin almost formed a new ATH with an all-time high price of $67k, it is not impossible that in the near future we will see the price of bitcoin reach six digits. Of course, the higher the price of bitcoin, the more people become millionaires.

In the near future I also doubt prices will reach seven figures, although anything can happen in crypto because no one can predict it. But for me this seven digit number will probably be formed in the next cycle.

As long as there is demand and trust, whatever the asset is, it will rise high, but if it doesn't and is not profitable for the holders, it will be thrown away slowly, no exception, but for BTC I think this is still far from sight if we look at its performance and the increase in asset value and now we have seen the use of Bitcoin. implications in several countries.


Holding coins is very difficult to do. we have to control our thoughts and emotions while the value of our assets decreases drastically. To be a long-term investor also requires strong mental and emotional strength, price movements with high volatility. So if we can't control it I'm sure there will be losses in the end and let's see next action market after the big rise this week.

I think that's the point of having bitcoin, to hold it as much as you possibly could. I agree that some people like to trade it and I am fine with that and that would make sense if you are doing fine, but that doesn't mean that we are going to be doing fine at all times, sometimes we do fine and sometimes we just don't.

I believe that the best thing to do at this point would be keep holding it no matter what the price gets to. Having a trailing stop would mean that you could let it go up as much as you want it to go up, before you start thinking about selling. That way, you would only sell it if the price starts to go down a lot, and in that case it could mean that price might peaked and you are just selling to get out before a crash.

It's simple
Massive transfer of wealth: those that have held bitcoin for a longer time and have enough bitcoin like up to 50 and above would be rich and companies that have more would be richer, most persons that have more value in fait would be on the losing side and vice versa.

Bitcoin might or would become more stable like gold:
With that much value in bitcoin, high volatility would reduce cause little selling and buying of up to 100 million $ in fait would have very little impact on the market, so bitcoin would become more stable and a good or better store of value like gold

Late investors would regret and altcoins would become more preferable to invest for gains than bitcoin:
Anyone that fails to take advantage of bitcoin now would forever regret and might never have such opportunity to benefit from it again cause you need to be either so rich or earning so high for you to think of buying Bitcoin cause of the price and you would rather go for an alternative coin to get a better chance at profits.

Gone are the days of 10x or 20x : you would expect very little price increase from bitcoin since it has mostly stabilised.


Your mostly right, holding bitcoin is quite the task expecially when you have made profits from it and none like to hold till the bear comes.

Most persons into bitcoin now are here for the profits, we have very little investors that are willing to hold bitcoin and I wont blame them, IMO for you hold successful bitcoin should be more like savings or retirement plan kind of shit and not something you bought cause of profits and you need to be above kind of average level of life cause you can't be earning quite a few dollars and holding bitcoin or having rent issues and holding bitcoin.

Lots of things involved to be a successful holder like
1. having a well built emergency funds: you can't successfully hold bitcoin if its your all, just imagine having 50k in bitcoin and suddenly an emergency happens like your mom needs an operation, you've got no choice than to sell to treat her .

2.A well built source of income that can take care of your basic needs, savings and any extra expenses or lifestyle

3.Discipline: self control is your choice and you need to be less moved by greed or fomo in other to hold, cause if your are still moved by little price changes the no way your holding that shit for long.

Not exactly it makes all investors become rich or become millionaires. Of course, those who can afford to invest more will also earn more. But the question is if all investors can still hold when the price reaches 6 digits or if they are selling their BTC right away after hitting $70k. Because if we visualize the current situation, we are sure that many people are in FOMO already. How could they become rich from that kind of behavior?

If the price of Bitcoin will hit $100k, some are happy because they still hold while some are also sad for their early selling. Rich people become richer while poor people remain poor. Maybe average people can take their chance to become rich.

I think both will be equally present when the price of Bitcoin continues to increase to six digits or seven digits. Because currently there are many people who still believe in saving Bitcoin and they are still very happy to consider it as an investment for the future that will make them become millionaires or new rich people in their own environment.

I also think that the current bullish trend will continue in the Bitcoin market. Because yesterday Bitcoin almost passed the ATH number that was formed in 2021 and I am sure that this year Bitcoin could form a new ATH again with a more perfect number. But for now we still have to be patient and hold on until we actually see more fantastic numbers in Bitcoin.

Not sure if the cost of living will be affected of bitcoin price increasing , Rent and Food? why does this be affected in the first place.
but about the fee? not sure if this will ever go back to 25 cents because we have done long now that even if we are still not reaching 6 digits yet the price of fee is still higher.
if there will be more millionaire then that is because they trusted bitcoin that much and we must rejoice with them.

We have heard many stories about millionaires by holding bitcoin but my question is, have we met anyone or are these just stories we hear from many others? One thing to remember is that wealth is not for the masses, so even if the bitcoin price hits 6 figures or 7 figures, not too many people will become rich.

How many people will be brave enough to hold until bitcoin reaches $500k or $200k? Many people were adamant about their statement, but when bitcoin dropped 50%, they rushed to sell their bitcoin and this was common. Holding bitcoin is not as simple as we think, so don't think that when bitcoin is worth millions of dollars, many millionaires will be born.

History will always repeat itself, there will always be people who sell their bitcoins and regret it when they see the future price of bitcoins.

Not really something "unbelievable" because to be fair we are at a stage where it's already quite high, and nobody remembers but these were asked when it passed beyond 1k as well. Looking back right now, having a thousand dollars per bitcoin price was a magical period and it was insane, many people got rich, some of them even got out and living a wealthy life right now, even though they may regret not keeping it but they are rich, because we saw it go from just a few dollars to a thousand dollars.

Or you could say the same thing for ten thousand dollars, it was broken and nothing changed, we kept going. I think 100k would be the same thing, we will not really see the situation changing all that much, it would not be all that crazy to see it break over it.

Maybe your post is near to find answers because Bitcoin is not getting closer to that reality
of price , now that its closing to 70k then the next target would be 80/90/100k$ and if those happens
then we will see what will happen to bitcoin and the whole crypto market.
not sure about that 7 figures but yes there must be more millionaire if happens.

So there isn't an issue where if btc goes very high, like 6 figures and up and maybe even 7 figures... well there would be too many rich people and too much millionaires?

6 figures cannot make you live your dream life. Yes it will be larger in amounts, but still Bitcoins has more potential I would say. Yes only the OG long term investors will make great profits, if they wish to sell their coins after Bitcoins reaching six figures. Moreover, if we see honestly, then six figure price aren’t too far. We have already crossed half the track and more half to go. So yes, we need to accumulate as many Bitcoins as we can, else we will miss the profits definitely.

If bitcoin hits six figure what happens Is simple those who invested would be fucking rich and could afford their dream life, inflation and cost of living would definitely get higher and all those who are not in would be surely regretting their lifes to a sore, expecially all the haters and those who spent time , watching bitcoin doing nothing, so I think if can imagine this you should better go get buying more bitcoin.

OP, the cost of living does not go up just because Bitcoin goes up. Bitcoin is a very tiny part of the overall economy. Cost of living doesn't go up just because Bitcoin price rises, or just because there are more bitcoin millionaires. These things are just not related at all. Cost of living rises when people spend more money, but there aren't suddenly going to be millions of newly minted bitcoin millionaires, and even if there were, it's not like they are going to be spending all their money all of a sudden.


You're just trying to tie bitcoin prices and bitcoin millionaires to cost of living when there simply is no connection.

Having 1 Bitcoin for retirement may not be suitable for having a comfortable life in many countries, I agree that with that amount in my country and at the current BTC price, you will have a total of about 87 millions naira and this amount may sound huge but with high cost of things and for a family expenses it won't take long before you exist your entire saving,  and even though you have one Bitcoin or should be as a side investment and not a retirement fund.

But depending on what the value of bitcoin will amount to,  and if it did a 6 figure market movement that 1 Bitcoin fund could indeed make you leave like a king after retirement most especially in my country and many other developing countries whose currency is highly devalued for the united state dollars.

It will not have any negative effect if the price goes to $100k in the next bull run. That's what they says in the previous ATH run, that it will be detrimental, but then again, after the bull run, obviously the bear market will blanket the market again so there will be a lot of negative news again. So as the market is on a cycle and so does the attacks and the negative and then BTC dying.

And I don't think that those government that supports or at least in the gray area will make a U-turn for the west. On the contrary, just look at El Salvador, with the current price and with their huge investment by the Bukele government and him winning again, we will clearly see how BTC will positively affect them in a bullish market this year and the next coming years and probably there could be another government that will copy their success stories.

I don't think if Bitcoin hits 6 figures there would be any negative impact,I strongly believe it will affect the development of some banks,but it would be minimal some banks are now adapting AI developments and Blockchain technology.
Millionaires are emerging everyday,even some person that have maybe 2BTC according to your readings probably $2 million can still misuse the money, it's not a new thing,this isn't the first bull run either.
What will increase the price of goods will result from government policies, inflation, Development banks, decline in production,etc.
    Bitcoin and altcoins will benefit generations to come because of it immense possiblities.
So,I don't see anything that calls for concern, we just need a stable governmental system.

Just some sidenote that on the time that you do get old then it would really be always best on getting those life insurance plans and healthcare on which we should consider not to forget about these things on the first place
because this isnt really just talking about having no job or already retired on which there are other things on which you would really be needing to mind on. It would really be just that normal that we would really be
trying out to do our very best that we wont really be that ending up on having a job 8-5 or simply having those typical jobs that give us salary for us to survive on day to day living. There are really times
that we would be thinking on doing things on which it could give out that chance for us to retire earlier.

Going back into the topic that what if Bitcoins price would hit up 6 figures? Of course it would really be that a good thing for those who had bought on the bottom but if you are someone who
do have plans on holding it for long term then it would really be just that something that you wont really be caring at all since no matter what the price is then you would really be
always opting to holding even more longer. So its a personal choice i should say!

Inflation is a very bad situation on the economy that reduces the values of earning whereas you may sound Having more than enough but due to the hike of goods and services, it is likely that it is not what it is any longer.
But the thing is that as a retiree, you just need to cut your costs and focus on enjoying your home base with your accumulated funds. The above mentioned is even more than enough for some level of persons so then, if you projects yourself on the high places you are expected to early in other to meet up your standards.
Creating source of income while aiming at a retirement is very much essential because before your retirement you must have logically and mean fully set-up the amenities to profer you incomes and then at your retirement you don't need excuses of left out or only relying on your retirement funds.

Bitcoin hasn't been a mainstream so we cannot assume that if btc price goes up, the price of  basic necessities will also move up. It has not been legalized as a legal tender or currency by majority of the countries so we cannot say that it will create a huge effect on the society's economy. Prices these days have been soaring high because of pure inflation and nothing else.

However, we can't tell if in the future bitcoin will still not affect the prices of our commodities. Bitcoin is slowly recognized by financial institutions so most probably it might create a difference in the future.

Nothing happens in an absolute way.   What happened previously because we already saw a dramatic change in the worth of money.    Your entire car could be sold at high price for $100 back in the day and that would be alot of money to exchange for a fine car.    However now I could spend more then that just getting a nice meal and drink for lunch, unfortunately we already saw the dramatic alteration of prices and our reaction was muted and apathetic mostly.   To see BTC get to 6 figures should be considered in a similar way that mirrors the depreciation of Dollars so often felt in the decades past, possible some would say inevitable though I would never assume that as dollar depreciation also equates to destabilization imo.

Depending on the 6 figures. 1 BTC at $100k, not a lot of money. $999k - a lot of money, even in a first world country. You can get abducted or killed for that if you start bragging in pubs.  
$1M buys you an apartment in most EU cities, what varies is the size of the apartment. In some you'll get 2 bedrooms, in other it will be 1 bedroom, but many people work half of their lives to afford their own place. If you choose to invest in smaller rental flats, you can get 2 and continue living in the place you live now while renting out the rest. You can live of them with ease.
I can think of a number of ways one could turn $1m into a business that pays his bills.


It will go up. The average fee usually goes up and down with price, with the exception of FOMO periods like in the last 2 months when high demand met ordinals


No because bitcoin economy is so small compared to other things that it won't matter. What does it change for a town of 100k people if 10 of them become bitcoin millionaires? Literally nothing. They'll keep buying their food like they used to and paying their rent like they used to.

somehow, some people always ask about the price of Bitcoin that will reach millions of dollars,
even though they may not necessarily be able to hold Bitcoin until the new ATH.

Because it's not easy to hold back when the new ATH target has been reached,
and the current $100k target is still more relevant than just dreaming up the millions of dollars.

I'm not too skeptical about price increases, but I'm more realistic not to be too disappointed when prices that are too high aren't reached.
As you said, this price increase will also be affected by inventory during the bearish season.
The price of Bitcoin is volatile and has high volatility.

The bitcoin had a potential to become the top at the bull or bear market,because it had huge fan base in the trading compared to any coin.Many project was coming in the trading daily,but only few projects was survive for the longer period.The owner of Cardano states that the bitcoin need was not now for the market to survive,but he had forgot that the market was depend on the king all the time.So the trader of the bitcoin may in loss sometimes,but the profit from the bitcoin always guaranteed one.The bitcoin trader just need to wait until the market will response for the buying price at the time he brought in market.


The next year will be the expected time for the bitcoin traders,because we know the next year will be the next halves in the bitcoin.The trader who brought the bitcoin at the all time high price of 68k dollars was waiting for the 2024 bitcoin bull run.The market surely give them the profit after the next all time high in bitcoin price in 2024.

The increase in Bitcoin prices can indeed provide many wins for many investors who have invested in the past year or in the previous year. Because in general the amount of balance they have will also increase because of this, so that is what many investors are now hoping for so that they can experience victory more quickly through their own investments. And actually the influence of traders in the market on Bitcoin also exists, although only at a very small level, but it can also provide power to the resilience of the price of Bitcoin itself in the market.

First, anyone with 6 figures in the USD can live comfortably anywhere in the world, be it California or anywhere, and what gives them the 6 figures can continue to keep it going. But if Bitcoin gets to the level of six figures, a whole lot of people would be rich and this might cause inflation to say the least.

To now make matters worse, if Bitcoin reaches millions of dollars in value, then it would have created many billionaires, if not trillionaires as some people have a lot of it in store right now. This, I don't think is good for the world as financial segregation will be more and hyperinflation will be triggered. It will still be as the world is competing it now but it will only be on the worse side as the poor would have a higher gap compared to the rich and there will be more in number compared to how we see it today. This is because it's not everyone who owns Bitcoin, so it is not everybody who will be able to have such insane money.

Honestly, I don't see how this can be of good unless those who enrich themselves through Bitcoin are such that is philanthropists, investors in the physical business and many more who can make the money well-distributed. Can Bitcoin ever get to millions of dollars? I don't think so. Supplies during the bearish season will always have an effect on it.

Regardless the number of people who trade it, the appreciation of Bitcoin keep staying continuous and isn't affected by the fact that only a fraction of the population is involved in the trade and usage of Bitcoin so it isn't dependent on economies either probably because it has in itself helped people become even better in the midst of the economic situations. But the surge in the price of Bitcoin if it continues and gets to six figures, most average lives who are invested in Bitcoin will really be changed into millionaire of the next generation.

This is more or less the reasons for that guy who made the $1M get back in April or sometime after the bank fiasco because the US government has way too much debt. They are going to be selling billions in bonds this week, I think hundreds of billions and we will see what the demand is like. Last month the 30 year bond auction was awful.

So if there are less buyers, the rates will be higher and inflation will be higher and assets like bitcoin or real estate will go up. They also will need to keep printing more and more money if there is a recession due to the fact they need to stimulate the economy, basically QE like in 2008 and in 2020. Hence why Bitcoin and stocks can hit ATHs.

costs will increase, but everything is based on inflation, basically the price of goods does not increase but the value of the currency weakens, because every year the number of currencies around the world increases.
So the costs that are actually increasing are not actually increasing.

you can see this for reference:  https://bitcointalksearch.org/topic/m.63205820

Inflation has been over the roof in my country, and that has also been witnessed even on the global stage where and when something it become worthless to hold the local currency, but far easier to avoid getting affected by the soaring inflation crisis globally and that is by holding digital assets like Bitcoin this waynyou will be a hedge over inflation and for that, if the price hit a 6 figures as you call it, you then made alot of money.

I come from a country where the strength of our currency is weak against the United States dollar, so having Bitcoin as an investment will be a big addiction and tool to stay above the inflation crisis and also make huge profits in converted into my local currency.

A millionaire status means nothing. You talk about it only because this status is being sold as something important and rare in countries with strong fiat currencies like the US. When you're a millionaire in Africa or India (in local currencies) nobody cares. You can gave a million rupees and be poor.
What I'm trying to tell you here is that a millionaire status means a lot in the US just as long as the printing is low enough to sustain the status quo. If we ever see a 50% inflation in the US a millionaire status will mean nothing and we will see it one day. Therefore, I try to own as many scarce assets as I can at the expense of inflationary currencies and I don't think a few more crypto millionaires will change anything.

Bitcoin is usually referred to as a hedge against inflation, and if Bitcoin hits $250k or more in the future, it will actually be a very big advantage to investors who are holding a large amount of Bitcoin, although people who still hold a little fraction of it will also make some profit. It's not the increase in the price of Bitcoin that contributes to the high rate of inflation, so it's not when the price of Bitcoin is $250k that a loaf of bread will be $10. I believe that in some states, you can't even get a loaf for $10. Bitcoin will actually enrich more people in the future if they are able to hold their portfolio between now and when the price becomes that high. There have been so many people who have invested in Bitcoin since 2013–2015, and furthermore, some of them did not hold until Bitcoin got to $10k or $60k, so I don't believe that so many people will hold for that very long.

Op;
The rise or fall of its price is not directly linked to the economies of any country, except formally in El Salvador and perhaps there, due to its capitalization in BTC, it does not have as much impact today, for now.

A million dollars in any economy, even the American one, will depend on the economy of your country and even more so on the individual conditions of each of us, on our way of life, that is, depending on your social status, that amount will give you It may be enough for a temporary retirement or for something longer, it is relative.

As for the Fees, you are thinking like "poor," yeah, if you have a million dollars, and you have to pay a fee of $100-$200-etc. So,you think it can affect you from the point of view of the money you have!, it is very different if we think about it from the idea of what corresponds to paying for a sat/vB.

I will say my opinion, maybe some people will agree, maybe not, but if you look at the factors you say are inflation, it is true that all goods will rise.
This means that it is not goods or the like that increase, but fiat that experiences a decrease in value, and that is certain and has been happening for hundreds of hundreds of years.
that's why you see something going up in value, even though the value isn't really going up, but ccash it get fuckep up.
Whether it is enough for someone or not depends on how he manages it.

And most likely bitcoin holders that were able to buy and hold around < 2017 could really be the real winner. I mean,  they are early adopters and investors and maybe some of them are still investors buy this time and know the secret of it, buy low sell high.

But with the inflation and geo-politics going around, maybe there are still that % who's going to be millionaires in the next bull run. And most likely those services around it, exchanges, gambling platforms and any others could be the one that is going to be benefited again in the next all time high of 6 figures.

This question makes some broad assumptions.  The economy is complicated.  Prices going up and down happens for all kinds of reasons - how much money governments print, supply chains getting interrupted, wars... stuff like that.  Just because some new folks strike it rich with Bitcoin doesn't automatically mean your grocery bill doubles next week.  Its not as direct as that and  things can influence inflation sure, but it's complex how it all trickles down.  

Bitcoin's been around a while now, and even with the huge price spikes we've seen, there still aren't too many millionaires from people buying and hodling.  Thats because there's a limited amount of bitcoin out there - in order for one person to buy, someone else has to sell.  So even if we see bitcoin hit that $1 million+ price target someday (wild I know!), we still probably won't have like a crazy number of new crypto millionaires.  There will be some, sure, but there's gotta be sellers to match the buyers.  The supply is finite.

That's the scary thing because I'm sure that when that price hits, there's bound to be a lot of people that will probably sell their bitcoins at that price and with the expected high tx fees and those people that are going to do some transactions at that aren't going to be paying a big chunk of their bitcoin for the fee and the miners will definitely have a cause for celebration again as they're the one that's going to benefit in all of this which is awesome because they do deserve it and the rewards are only going to get lower in the future. I don't get ordinals though, why are they trending like this because if this kind of trend is going to continue until it hits the 100k price point, I'm sure that we will probably see record high levels of tx fees.

If Bitcoin goes to $100,000 the fees will spike but eventually they will settle down. You need to realize that many people keep most of their bitcoins on exchanges and won’t need to send to the exchange to sell. Those that do will just send their entire stack at once and pay a high fee once and that’s it.

Fees are high now not because Bitcoin is going up in price but due to the ordinals which are taking up blockchain space. They are a new trend and seems like it’s a big hit kind of like the Defi and NFT of Ethereum.

There are two ways for the price of bitcoin to grow, the first one is very simple, if the demand increases then the price of bitcoin will increase as well, as its supply is limited, and this by itself will not push the price of other items upwards.

The second way in which this could happen is if there was hyperinflation all over the world, and if that were to happen the price of bitcoin could in a way become irrelevant, and instead what it will matter is how much you can buy with it, this is the scenario you often hear about, however I really think that in that case the price of bitcoin will move up faster than inflation, and that is because at the time what people need is a way to protect their wealth, and they will be willing to pay a premium so you decide to sell your bitcoin to them.

BTC going up won't necessarily affect inflation, but inflation would most definitely affect prices of assets like bitcoin. Inflation is mostly affected by money printing decided by the central bank, not the prices of investment assets like bitcoin.

Yes the thing is the amount of people who own btc and buy or sell it is very low.  However, if there becomes too many millionaires out there... like with btc going to 7 figures... how would this affect inflation?  How would this affect people who don't own crypto?


So prices won't soar for living costs then like an extreme amount?  Like people keep saying if btc goes to 7 figures... milk cost $25 etc.  That would never happen unless you are talking about many many years later? 


The thing is what if btc goes to say 5 million dollars and let say it was to happen not very long from now.  So rent and living cost wouldn't skyrocket since it's still a small percentage of people who buy and sell crypto?  I was thinking imagine someone who is a crypto millionaire and let say they are worth a lot... let say they are worth $10 million dollars.  And say their crypto now is worth $5 million since they sold a decent amount.  Obviously you want crypto price to go up, but in a way wouldn't they want it not to go up so much though?  Since if they do, sure they might now be worth $50 million but so many people who were no longer millionaires might be worth $5 million?  Or is that not a concern for these people?  So use an extreme example.  Someone worth 100 million due to crypto.  Say they own still $50 million worth of crypto.  Do they really want crypto to 10x?  Sure they would be worth hundreds of millions but now there would be many more millionaires?

up until now, the population who are into crypto is still small compared to our global population. but let's consider the fact that this market is growing everyday and so the demand will slowly increase if we think about the supply and demand concept.
achieving the millionaire status is not too difficult but how to sustain i guess is much difficult. you can sell your stash but what happens next?

There would only be millionaires if they sell, and they can only sell if there are buyers. For that reason the huge price peaks don't last very long - lots of holders want to sell and not a lot of people want to buy so the price collapses. Plus a lot of holders just keep holding because no one knows for how long the bull run will last and when the bear market hits it's already too late to sell.

Bitcoin isn't really affecting economies or societies because only a small percentage of the population buys or sells it.

Yea I'm aware the more poorer the country you are in, the less btc you would need.  For example someone with 10 btc even can't retire on that in the US.  If someone has 5 btc, that is more than enough in many poorer countries.


The thing is for people who don't own any crypto, would btc going up to 6 figures affect them though?  Like would inflation go through the roof with btc went up to 6 figures?  Let say btc went up to 1 million dollars.  Many people would be millionaires but not really since after taxes, they wouldn't be.  But someone with 2 btc would be a millionaire even if they pay say 50% taxes.


The thing is if it gets to 1 million dollars, wouldn't there just be way too much millionaires though where being a millionaire is no longer the same?  I mean there been lot of millionaires due to crypto but if btc goes up to mid 6 figures and 7 figures, well that would be way too many millionaires right?

If you live in one of the Asian countries, your monthly income will be between $100-$300 and with this taza, you can cover your family well for the whole month. If you live in a developed European country you can earn $2k-$10k and above monthly and you will have minimum monthly expenses of $2k + to cover a household. You can own 1 bitcoin living in a European country as easily as you can own a bitcoin living in an Asian country. So if you need 1 bitcoin after retirement in Asian country, you will need 5-10 bitcoin in European country it is normal

It is temporary, which means that everything has fluctuations that will be proportional to the increases and decreases that occur.
No one will be able to survive at a price that is too high, especially if Bitcoin reaches 6 figures, and it becomes a new ATH, but then it will decrease to 5 figures again.

All are too focused on the statement "Too Many Millionaires", even though when viewed from another point of view,
those who suffer losses because of Bitcoin are also more.

Those who are not responsible for the wealth obtained from Bitcoin, will usually just waste their money.
Though, the opportunity to become a millionaire is dreamed of by many people.

Seeing how early holders of Bitcoin were able to survive until now and sell some of their current holdings,
they actually became millionaires and built their own businesses.

Well some have been millionaire long time ago but with the SEC and US intervention with the hype and progress of btc it would take time before it could happened. Well definitely it will, but not for now. Bitcoin is uncontrollable asset as long as there are many who supported it. The private sector are probably threaten by its idea due to those hidden agenda they are doing. Tranparency is a key and using bitcoin it can be achieved. Its only a matter of time I guess.

Inflation is higher.  Prices are higher.  Millionaires are more.  Billionaires the same.  Every thing is on the rise.  Including Bitcoin Fees.  But some of these are temporary increases.  Including the Fees.

There is no such thing as 'too many millionaires'.  They are increasing in count but this will not change much other than more people get to be irresponsible with massive Wealth.

Fees are not related to how many millionaires Bitcoin has or how much it costs but rather how much the users of the Network are fine with paying.  If Fees were exorbitantly high and no body afforded them, no body would pay them so Fees decrease.

I think it is still fairly easy to pay large Fees without realizing it because you are paying in such low denominations.  0.00002 does not seem like much when you are using Dollars every day.  Even more so when you are using less powerful Currencies.  No matter how you spin it, it is the same source Bitcoin Fees come from.  How much the users are willing to pay to skip the queue.

Bitcoin will reach six figures and will continue to have weeks or months of 1 Satoshi per vByte Fees.  It does not change any thing.  Maybe the only negative change is that more people will afford to pay more Fees.  Otherwise things will stay the same.

With how inflation is, someone that makes 6 figures in the US isn't even that much money if you live in a very expensive state like California.  Also having 1 million dollars would not be enough to retire in the US these days unless you live in certain states and assuming you have no job.  Seems like you need 2 or 3 million dollars in the US for someone to retire so to speak if they have no other forms of income and you could live off the interest.  Now if you are living in a poor country,l having 1 btc is a lot of money already in some places.  But in most 1st world countries, 1 btc isn't much at all.  



Now if btc hits 6 figures, the btc sending fees will 100% go up correct and by a lot?  Or would it actually go back to lower fees like $0.25?  The other thing is if btc goes up to 6 figures and beyond, would that mean the cost of rent and food and everything will rise as well or not?  Yes there is inflation and it has been going up much faster the last few years compared to years ago.  If btc hits 250k, would that mean bread would cost $10?  Always heard people say if btc goes up really high, things like coffee would cost $25 seems ridiculous but are they serious?



The other thing I thought of was this.  If btc hits 6 figures and goes to say 250k or even 500k usd, well that would mean there would be quite a lot of new millionaires out there compared to now since you still need a sizeable amount of btc to be a millionaire.  I know there has been many millionaires due to crypto but for most people, it's hard if you don't have much savings to buy btc the last few years.  Now if someone owns 1 btc, and btc goes to 1 million dollars, would there be a concern for people who own more than 1 btc... let say they own 3 btc to make it simple... now that there are way too many millionaires so just too many rich people?  Or if btc goes to 1 million dollars, that means having 3 million dollars is no longer enough to retire on in the US anymore?  Would that make the number then say 6 million?  So after taxes, let's say you get between 2/3rd to 1/2 the amount.  If btc hits mid 6 figures or low 7 figures, would it mean everything would increase so much in terms of living cost and everything so people who have a net worth of 2 million dollars after tax selling btc wouldn't be able to live off the interest?