How much it takes to be millionaire (in USD) by STEEM holdings?

When we say somebody is billionaire or multi-millionaire, it does not mean they have liquid assets such as cash, gold, cryptocurrency, stocks etc worth of that amount. It is measured in very complicated ways, in some cases, in propriety methods. For example, Forbes publishes world's richest list with their own methodology which they will never clarify.

It takes real estate, equities in companies, even yachts etc to calculate assets. Therefore, total worth of a person's asset can vary each day even seconds due to many reasons such as stock's price fluctuation.

Interestingly, Forbes has recently published a list of crypto-millionaires. List included personnel with minimum $350M assets. STEEM was involved indirectly, one of the the co-founder @dan, STEEM's top two exchanges Binance and Upbit founders were in the list.

Now lets talk about STEEM's current millionaires. At current price- $1.65, one needs 606K STEEM to be a millionaire in USD. There are only 30 accounts that hold more than 600K STEEM. Out of these 30 accounts around 20-25 are STINC related accounts, co-founders and early-investors. Early investors are the people (e.g. @freedom, @jamesc1) who invested liquid capital (i.e. venture capital) to get a large number of STEEM in return.

There are few late investors that are known such as @trafalgar, @fyrstikken, controversial @ranchorelaxo @berniesanders (with multiple accounts). They perhaps bought STEEM at low price (around 8-20 cents) and mined at the very beginning when STEEM was mineable through PoW miners.

Therefore, we can roughly assume that at current price of STEEM, there are 20 millionaires who are co-founders, early developers, venture capitalist and early buyers.

However, if STEEM reaches its peak price of $8.5 today, there will be 120 accounts at 118K STEEM that will become millionaires. If we exclude bots, multiple accounts, STINC accounts, then there will be 100 millionaires at STEEM's peak price.

Now let us consider that STEEM reaches $20 in next one year, then 290 accounts (50K STEEM) will be millionaires in STEEM. Similarly, if we keep out bots, STINC accounts and multiple accounts, then it would be around 250 persons.

We can say that at $20 a STEEM, there will be 250 millionaires through STEEM. Interestingly, one just need $82.5K to acquire those 50K STEEM. Or, even less if he/she becomes an active user who blogs and curates, that amount could be around $50K today.

It is quite remarkable today, that top crypocurrencies such as BTC, ETH, XRP, LTC have minted 1000s of millionaires. A guy bought a pizza with 10K BTC in 2010, that amount of BTC at its peak was around $200M (December 2017).

I knew an investor David Pate who had around 300K LTC. He sold them for $4-5 millions.

It would like to write another blog after TWO years to see how many STEEM millionaires then compared to today's mere twenty some persons.

What do you think at June, 2020, how many STEEM millionaires will be there? We will take the highest price of STEEM on the month of June, 2020.

Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.

Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.

Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger