To become a millionaire in the next Bull Run, one needs a minimum of $100,000 if they hold only Bitcoin and ethereum. However, holding popular coins like SRP, cardano, and polygon could yield up to 20x returns, meaning a $50,000 investment could help reach this goal if you pick the right coins. Those who want to get involved in brand new narratives like D5 gaming on layer ones could potentially become a millionaire with just $10,000, though this strategy carries the highest risk as new projects may fail.
How Much Money Do You Need to Become a Millionaire with Bitcoin and Ethereum?
Investing in cryptocurrencies can be a lucrative way to build wealth quickly, but it can be tough to know just how much money you need to invest to become a millionaire. In this article, we’ll break down the numbers you need to know if you’re hoping to make a million dollars off of Bitcoin or Ethereum.
Holding Bitcoin and Ethereum
If you’re holding only Bitcoin and Ethereum, your potential earnings are somewhat limited. According to experts, these coins can only increase by at most 10x until the next Bull Run peak. To make a million dollars off of these coins, you’ll need to invest at least one hundred thousand dollars.
Other Popular Coins
If you’re interested in holding a broader portfolio of cryptocurrencies, there are some other options to consider. Coins like SRP, Cardano, and Polygon can potentially increase by up to 20x, although these types of returns are rare. If you use a 20x estimate, you’ll need to invest fifty thousand dollars in these coins to make a million dollars.
New Narratives and High Risks
If you’re interested in taking on more risk, you could also focus on the “new narrative” projects that are emerging in the cryptocurrency space. For example, D5 gaming projects or layer one protocols for blockchain solutions could be a promising way to invest. However, these types of projects are brand new, and there’s a high risk involved. If you’re willing to take on the challenge, you could make a million dollars with just ten thousand dollars invested.
In conclusion, the amount of money you need to become a millionaire through cryptocurrency investment depends on the coins you choose and how much risk you’re willing to take on. By diversifying your portfolio and staying up to date on the latest developments in the space, you can maximize your chances of success.