Will CryptoCurrencies Bring the World it's First Trillionaire?
This one's just for fun, gang.
It's conjectured that we'll see the world's first bona fide trillionaire in the next couple decades, maybe 25 years. Will it be one of the obvious tech giants? Or could the milestone come and go without us even knowing the identity of the first person to be worth $1000billion? While unlikely, it's possible cryptocurrencies could make the first trillionaire a stealth trillionaire.
The last big thing
A safe guess for the title is Bill Gates, the richest man alive, and who would be in his mid to late 80s around that time. Given his wealth and apparent relative well-being, I don't see why he shouldn't live to that age. In order to reach $1000B in 25 years, Bill's net worth would have to increase at a rate of 10.3% per year. Seems like a tall order but considering the man seems to have too much money to even give it away - his net worth doubled in 5 years from 2009 to 2014, and increased by 22% from 2013 to 2015 - it may be doable.
To pass him, Jeff Bezos would have to average 10.7% increase over the same period. And 5th richest Mark Zuckerberg would need 12% over the same period. Now of course if neither Bezos (53) or Gates (61) crosses that threshold, Zuckerberg, who is only 32 now, has a lot more time in his life to hit the mark, and it's almost guaranteed he will at some point.
I should definitely pause here to note that I am sure that Bezos, Gates, Zucky and other billionaires don't actually see themselves as in competition with each other to be the first to a trillion, at least, not as any kind of priority. Who would care, at that point? These comparisons are just for fun. Also, if you charted the net worth of any of these individuals, it would not look anything like a X% compound interest curve. I'm not certain but Warren Buffet's might look a little more like that. These men made things happen that shattered the way we do things, and the market compensated them gratuitously and rapidly.
The next big thing
So what is CURRENTLY in the process of changing the way we do things? Cryptocurrencies. Experts have compared the fledgling technology today to the Internet circa 1992, i.e. a user-unfriendly, highly disruptive technology at the very beginning of its adoption curve. Bitcoin, or other technologies like it are likely to shape the future. Might an inventor from this space beat our other contenders to the punch and be the world's first trillionaire?
Possibly. Today, Bitcoin is the undisputed king of cryptocurrencies with a market cap in dollars near $21billion and growing. I will also mention Ethereum, coming in a distant second at under $5billion, also growing. There are a lot of notable inventors, adopters, promoters, and businessmen in the field that claim or are presumed to hold small fortunes either in cryptocurrencies or in dollars made in ventures related to cryptocurrencies. Some of these for example are Ethereum inventor Vitalik Buterin, Bitcoin mining company founder Jihan Wu, and early Bitcoin adopter and promoter Roger Ver. However, most mysteriously, the unidentified inventor(s) of Bitcoin who goes by the pseudonym Satoshi Nakamoto.
Satoshi's Bitcoin holdings, though no one knows for sure, are estimated to be about 1M BTC. In today's prices, that's approximately $1.3billion - $1.4billion, nowhere close to Gates and company. But keep in mind that in only fall 2010, that was worth $60k - $70k, approximately a 20,000% increase in under 7 years! I don't know if that makes Satoshi the first anonymous billionaire but in order to be worth a trillion on Bitcoin alone, each BTC would have to go from its current price of about $1,300 to $1M. While I have really high expectations for the future of cryptocurrency, and I think it's possible the first trillionaire could come from the space, I don't see a $1M Bitcoin. At least not before one of the Internet titans reaches a $1T net worth. And without compromising their anonymity, Satoshi will never close the gap by other means.
For what it's worth, I'd bet on Zuckerberg.
But if I were you, I'd bet on you.
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