Today in Crypto Twitter: 77 USD Makes You a Bitcoin Millionaire? (2020-04-27)

Bitcoin Millionaires

Pierre Rochard decided to tweet out something that many find to be more than a bit disingenuous. Early this morning, the Bitcoin maximalist claimed that everyone who owns 0.01 bitcoins is “literally a millionaire.”

While his claim is centered around the fact that 0.01 bitcoins equates to one million satoshis — the smallest measurement of a bitcoin — the claim doesn’t really make as much sense as Rochard would like his followers to believe. As @wiz pointed out, you could merely divide anything you consider to be money or valuable (even dogecoins) into a million pieces and call yourself a millionaire. If you measure the term “millionaire” in terms of United States dollars, then 0.01 BTC is actually worth 77.02 USD — which means you aren’t even a hundredaire. It is worth noting, however, that there will never be enough bitcoins in existence for every actual millionaire in the world to own one.

When You Know Less About Finance than a Kid

You think you’re an expert on the financial markets simply because you’ve had a bit of success with degen leverage trades on BitMEX? Think again. One video that made the rounds on Crypto Twitter yesterday and today features a kid flexin’ his knowledge of all things finance — from risk management to commercial real estate investment to the Home Owners Association to debt to tax write-offs. https://twitter.com/coinyeezy/status/1254500008898035716 Be honest — the little dude knows more than you, doesn’t he? (He probably knows more than Pierre Rochard, too.)

When Moon, Peter Schiff?

Gold bug and notorious Bitcoin basher Peter Schiff loves to antagonize the Crypto Twitter community. Unsurprisingly, Crypto Twitter loves to give it back. Schiff may have missed the many opportunities to ride the Bitcoin rocket throughout the past half-decade or so, but — as shown in the tweet below — he’s well equipped to make is moon landing when gold really takes off.

Peter Schiff when gold finally moons pic.twitter.com/8xJNJEL3dy

— CryptoCharles (@CryptoCharles__) April 27, 2020

Did we miss anything on Crypto Twitter today? Let us know in the comments below — and don’t forget to tune in every weekday for more nonsense from everyone’s favorite corner of the Twitterverse.