How would you like to join one of the world’s most prestigious clubs?
As a member, I’d like to cordially invite you to what will become a very exclusive and rarefied privilege.
The only requirement:
Own 1 whole bitcoin.
The admission is the equivalent of $42,252.47 at the time of this writing.
Related: What is Bitcoin? A Nursing Explanation.
The Silent Victory
January 15th, 2022. It was Saturday. I celebrated in silence in my cubicle in the basement of Kaiser Permanente’s West LA Medical Center, my arms raised in fists of victory. None of my coworkers were aware of the destiny-altering moment happening behind that dismal gray partition. At precisely 11:43 a.m., I officially became a member of the 21 Million Club.
What is the 21 Million Club?
There will never be more than 21 million bitcoin in the world. That means there isn’t enough for everyone to even own a single bitcoin. People who own BTC refer to themselves as “bitcoiners.” Owning 1 BTC admits you to the 21 Million Club and a subculture of bitcoiners: “whole coiners”.
Why Does it Matter?
There is current speculation from banking giants like Wells Fargo, that bitcoin is following the same technology adoption curve as the internet. The internet curve went like this: In 1995, only about 14% of US households used the internet. Within 20 years, that number increased to 87%. Applying the same metric to BTC, if only 14% of the world currently owns BTC, over the next 20 years we could see over 80% of the world own BTC. By that time, the price of 1 BTC could be astronomical. According to Fidelity Investment’s Stock-to-Flow Chart of Bitcoin, we could see 1 BTC reach upwards of $100,000,000 by 2035 which is only 13 years away.
The Future Ruling Elite
Money is power, whether we like it or not. Many people think Bitcoin is on its way to replace gold as the preferred reserve asset. If this happens, the current members of the 21 Million Club may suddenly find themselves in a place where their wealth puts them in a position of power. The future is uncertain. However, we can learn from history that there has always been conflict between the haves and have-nots. The 21 Million Club members may think it wise to remain silent and side with the majority during these moments in time. Patience is a virtue and their time will come.
The Mystery Million BTC
One of the greatest mysteries of cryptocurrency is over the identity of bitcoin’s creator. This mystery creator under the pseudonym, Satoshi Nakamoto, suddenly vanished after releasing bitcoin’s code into the world. This was not before he accumulated approximately 1,000,000 BTC for himself, currently valued at $42 billion. All eyes have watched this account for any activity since Nakamoto vanished. There has been no activity for over 10 years.
So the question remains: What was his true purpose? Why did he remove 1 million BTC from circulation? Why did he disappear?
It’s anyone’s guess.
Whenever the truth does reveal itself, you can be sure that it will topple the balance of power. I have a suspicion that once bitcoin reaches a certain threshold, either in price or in the number of wallet addresses, that something incredible will occur. Imagine dividing and airdropping a million BTC to every wallet in the entire world. “Airdrop” is a term used in cryptocurrency where coins are automatically sent to all account holders as a reward and incentive for participating in a coin’s network. A similar feat was accomplished by El Salvador when President Nayib Bukele airdropped $30 USD worth of bitcoin to every adult citizen that participated in the nation’s cryptocurrency app.
It appears that a whole new world of possibility is emerging. The collective momentum from small feats like El Salvador among other cryptocurrency milestones will reach a hyper-inflection point where those in the 21 Million Club will achieve royalty status.