With several market commentators suggesting that 100 Bitcoin is life-changing, what price does XRP need to reach before 100 XRP can be enough for retirement?
Being the original cryptocurrency, Bitcoin (BTC) has mostly taken center stage in discussions surrounding the growing crypto market. BTC also stands as the most dominant asset in the market, currently commanding 58.2% of the overall market, with a valuation of $2.24 trillion.
100 BTC is Life-Changing
For an asset that once traded below $5, the firstborn crypto has come a long way from its humble beginnings over 15 years ago. Now, market commentators have pointed out repeatedly that investors holding just 100 BTC possess life-changing wealth capable of making them retire.
Earlier this year, when Bitcoin was still battling to maintain the $100,000 mark, Chartered Financial Analyst Rajat Soni noted that investors used to regard 1,000 BTC as life-changing money, and then the figure dropped to 100 BTC. Interestingly, Soni claimed that now, only 10 BTC represents life-changing wealth.
Moreover, in July 2020, when Bitcoin traded for just around $9,000, Bitcoin developer Adam Back responded to a question asking whether 100 BTC is enough. Back suggested that 100 BTC is enough to retire in low-cost areas, especially if predictions of $100,000 ever materialize. Bitcoin has since hit the $100,000 mark.
Yes 100 BTC is a lot, approx $1mil USD, enough to retire on in many low cost places already today. If some of the price predictions come true with $100k or $300k that becomes really a lot of money.
— Adam Back (@adam3us) July 18, 2020
Today, 100 BTC is worth $11.4 million, enough for even American investors to retire. Notably, earlier in the year, a survey by Northwestern Mutual found that American adults believe they could retire with $1.26 million, down from the $1.46 million figure from last year.
At What Price Can an American Retire with 100 XRP?
Interestingly, XRP community pundits have repeatedly suggested that XRP could become the next Bitcoin, capable of also being an avenue of retirement for its holders. As a result, we recently assessed how much XRP would need to reach for the average American adult to be able to retire with 100 tokens.
Today, as XRP changes hands at $2.50, 100 XRP tokens are worth only $250. For these tokens to cross the $1.26 million mark, the price of 1 XRP needs to hit $12,600. Notably, this would mark a 438,924% increase from the current XRP price, representing a near impossible feat in our lifetime.
Additionally, at a $12,600 price, the XRP market valuation would balloon to $756 trillion, surpassing the combined total of global debt and M2 money supply. This confirms how unfeasible the price target is within our lifetime. Essentially, more realistic retirement targets would require holding at least 10,000 XRP in countries with lower costs of living.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.