Looking at how high bitcoin has gone, almost $20,000, before dropping back to around US$15,900 today, it makes me wonder if the world's first trillionaire will come from a cryptocurrency.
But how much is a trillion dollars?
Well it is 1000 billion dollars, which means that a trillion dollars is 10,000 million. There are, according to Forbes, 2043 billionaires in the world today, with a combined worth of 7.7 trillion dollars.
Of these Bill Gates is currently the richest with $79.2 billion so he is a very long way off from becoming a trillionaire.
So a trillion is a pretty big number!
In fact if you had spent a million dollars every day since the birth of Jesus Christ you would have only spent a little under $700 billion.
That really shows how big a number we're dealing with.
Of course we could already have a trillionaire somewhere in the world depending on what currency is used. If Bill Gates fortune is traded in for Algerian Dinar he would have over 9 trillion dinar.
So yes we do have trillionaires in the world, but only if we use very risky currencies. Better stick to the US Dollar me thinks.
Getting back to the question of getting the world's first trillionaire thanks to cryptocurrencies, I don't think it's that far fetched.
If we do the math based on bitcoin being worth, say, US$15,000, someone would need 66,666,667. If the value of a bitcoin gets back to $20,000 we will need 50 million bitcoins. And if this value goes higher, or if another cryptocurrency skyrockets, the possibility of getting a trillionaire becomes more likely.
The question is, is there any person out there who is quietly hoarding a cryptocurrency that will explode?
What do you think?
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