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Brian Armstrong, chief executive officer at cryptocurrency exchange giant Coinbase, has rejected the idea that crypto is too expensive for new investors.
Armstrong explains that those who want to get started do not actually need to buy an entire Bitcoin or Ethereum to get started.
"You don’t need to buy a full Bitcoin or ETH to get started. You can start buying and holding crypto with a few dollars. It’s never too late," Armstrong said in a recent social media post.
Less than 1 million full Bitcoin owners
According to data provided by CoinLedger, roughly 987,000 Bitcoin addresses hold at least one full coin.
That said, the number of individuals who own a whole Bitcoin is likely to be substantially lower, given that one investor can control multiple wallets.
However, some commentators found the idea of buying just a few dollars' worth of Bitcoin ridiculous, considering that the cryptocurrency is already worth $2.2 trillion. Even if the most bullish BTC price forecasts end up materializing, investing insignificant amounts of money in the two largest cryptocurrencies won’t make someone wealthy.
Hence, a lot of retail traders are gambling with countless altcoins that might have substantial upside potential, essentially treating crypto investing as a lottery.
Some have also pitched the idea of adding satoshis, the smallest unit of Bitcoin, to Coinbase, in order to make buying the cryptocurrency more appealing since humans naturally prefer round numbers.
$1 million Bitcoin price prediction
As reported by U.Today, Armstrong previously predicted that Bitcoin had a good chance of hitting $1 million by the end of the decade.
The influential cryptocurrency executive claimed that this would be possible because of regulatory clarity and broader institutional adoption.
The cryptocurrency is currently changing hands slightly above the $110,000 level.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team