Soon, everybody will be a millionaire in Dollars, not that they are going to like it, though.
the reputation of the term “millionaire” as we know it is rapidly declining. you can see the difference even if you watch movies and tv series made in the late 20th century. if you watch anything related to drugs, the mafia, or money from that time, you will understand how significant it was to be a “millionaire.”
every day, thousands of new people become dollar millionaires worldwide. while some increase is natural due to population growth, the proportion of millionaires in the total population is also quite high.
perhaps in the future, we'll refer to them as “bit-ionaires” instead of millionaires. maybe that is what we are going to tell a person who has more than a million satoshis, or the ones with a whole bitcoin. whole coiner sounds good.
hmm when i was a kid there was a tv show.
https://en.wikipedia.org/wiki/The_Millionaire_(TV_series)
it ran from 1955 to 1960.
my dad was earning about 10,000 a year in 1966. so a million was 100 years pay.
if I had a hundred years pay right now it would be over 10 million but under 20 million.
So for me a million usd is 10 to 20 times worse than when I was a kid.
my first home was 25k my parents and grand parents purchased it for 26k in 1955
that house is now 1,300,000 about 50x the price they paid.
Another 50-60 years (at most) and a billionaire would roughly equal a millionaire 50-60 years ago...if nothing drastic happens in between.
Just look at the companies: I remember when in 2000 MSFT and GE were at 500 bil market cap and everybody thought that it was a gigantic number for a single corporation valuation.
Now NVDA has an above $4 tril valuation and most people didn't bat an eye.