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

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In Brief
  • One Bitcoin maximalist might want to reconsider his math.

  • You probably know less about finance than a kid.

  • Peter Schiff isn't about to miss out on gold's moon landing.

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Welcome to the first edition of BeInCrypto’s “Today in Crypto Twitter” — a daily round-up of the things you may or may not have missed in the cryptosphere.

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.”

Image courtesy of Twitter.

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.

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.

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.


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