While the price of a single bitcoin is still well above a thousand dollars, investors are scrambling to buy their golden tickets while they can still afford it.
For most crypto investors, becoming a part of anyone of Bitcoin’s exclusive members-only clubs has been a career-long dream. These clubs are akin to what you’d expect from the Illuminati- as far as prestige and seemingly mysterious knowledge goes.
Getting into these groups, and subsequently, getting in on all of their insider knowledge is no easy feat. As of 2018, several crypto enthusiasts pointed out that owning just 0.28 of a bitcoin was enough to put you into the category of the crypto elite, but fell far short of getting into any of the exclusive clubs.
While it’s hard to say that these clubs actually exist, or whether they’re more of a benchmark within the wider community is up to speculation. But many bitcoin users firmly believe that whale investors not only easily gain insider knowledge, but also strongly influence market values.
Which, thanks in part (or whole) to the Coronavirus and the havoc it wreaked on markets- getting that slice of pie comes at a much lower price than it did just a few weeks ago. The sharp downturn has yet to bring bitcoin’s value under $4,000, which led many seasoned investors to believe that those in the know were strongly holding onto their assets. In the last few days, the market seems to be recovering steadily and holding fast, making the window of opportunity ever smaller.
Bitcoin Members Only Clubs: Bitcoin’s 1%
To be in bitcoins one percent, you have to do a little math. Of the 21 million coins that will ever be in existence, only 18,244,475 are on the market today. This has to do not only with the rate that the coins are released, but also with the coins that have been hacked, stolen, or are lost forever.
This number then has to be weighed against how many bitcoin users there are- a number that is much harder to estimate, as there is no formal system for knowing this. Most will calculate based on the number of BTC wallets in existence, but that number may largely exaggerate holders. Mostly because of the wise use of bitcoin tumblers and clean wallets to ensure anonymity and fungibility. Which leaves a number of wallets disposed of and never actually used again.
Despite the debate on numbers, quite a few analysts agree that 0.28 BTC will guarantee you a 1% membership for life. Meaning you’ll be in the top 1% richest bitcoin holders globally, and 99% of people will be statistically unlikely to ever own more bitcoin than you do.
If you are interested in reading more articles at Best Bitcoin Tumbler why not look through Here’s How to Get Your Bitcoins with Revolut and What Do Bitcoin Mixers Have to Do with Fungibility?
Bitcoin Members Only Clubs: The 21 Million Club
The “21 Million Club” dubbed so because there are 21 million coins in existence, not because any holding is necessarily worth that much, is an elite symbolic group that holds 1 full BTC.
These “members” pop up now and again on Reddit, a geek-centric anonymous social media platform, regaling all with their tales of how they were to acquire such a rare thing and how happy they are they bought in early. Some even layout carefully thought out plans on how to make it into the club with current holdings, while others seem to just read on in stunned silence. Currently, the 21 Million club membership will cost you right around $5,500 in membership dues.
The 21 Million club and the 1% are considered far less exclusive than a few others, as only a super slim amount of people hold much more than a full bitcoin. So while these two do come with their own amount of community prestige, it’s the other three that really impress.
Bitcoin Members Only Clubs: The Final Three
Sure, there are probably far more bitcoin members only “clubs” in existence than just these five, but as far as we can tell- if you’re in any one of them, none of the rest matter.
Holding 210,000 BTC will not only grant you immediate star status but will also give you the membership title of being a part of the Satoshi Club. Currently, only one BTC wallet in the entire world holds enough coins to be in this club. This wallet has 255,502 BTC, worth an estimated $1,510,924,614. Making that old adage truer than ever- it surely is lonely at the top.
To get in on Vladimir Club action, you’ll need a hefty 2,100 BTC, which may not sound like much, but it puts you in a bracket with a measly 779 other people. Considering there are millions of users of bitcoin, this is still considered a very tight-knit group. At its lowest valuation of 2,100 BTC, a Vladimir qualifying wallet is worth about $12,200,761- which is still pretty impressive.
1 in a Million
For just 21 BTC, you could be in the 1 in a million group. A highly misleading title, as there are thousands of investors that sit between 1 in a Million and the Vladimir Club. However, it doesn’t stop them from looming over the likes of those in the 21 Million and 1% clubs. So there’s still a fair bit of self-congratulation to be passed around. Not to mention that a 1 in a million wallet is worth around $116,655 even at the present market values.