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Home»Web 3»Does this data track Bitcoin’s global impact – or is it all smoke and mirrors?
Web 3

Does this data track Bitcoin’s global impact – or is it all smoke and mirrors?

2023-11-07No Comments2 Mins Read
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TL; DR

  • Thanks to the recent rise in the price of Bitcoin, there are now over 8 million individual Bitcoin wallets holding $1k USD or more worth of Bitcoin (a new record!).

  • The more purchasing power something can give to a greater number of people, the better it is for the world.

  • And right now, there are 8 million people with $1,000 worth of Bitcoin purchasing power at their disposal – purchasing power that they it didn’t a month ago.

Full story

This feels like a random statistic… but it might be worth getting excited about:

Thanks to the recent rise in the price of Bitcoin, there are now over 8 million individual Bitcoin wallets holding $1k USD or more worth of Bitcoin (a new record!).

…ok, that’s cool and all, but what does it actually indicate?

In the simplest/purist sense, these data support the idea that:

The more purchasing power something can give to a greater number of people, the better it is for the world.

For example, if a company can grow (and gradually gain more employees), it will distribute more purchasing power to more people as it grows.

(More purchasing power, for more individuals = more financial freedom/personal autonomy, for more people).

Long story longer: ‘more money in everyone’s pocket’ is a message that appeals to almost everyone.

And right now, there are 8 million people with $1,000 worth of Bitcoin purchasing power at their disposal – purchasing power that they it didn’t a month ago.

It’s not exactly front page news, but it is a milestone worth celebrating!

Because the more wealth Bitcoin can bring to a greater number of people, the greater its impact on the world will be.

See also  Bitcoin’s ETF Momentum Is Stuck

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Bitcoins Data Global impact Mirrors smoke track
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