Transcription
Heyo everybody! Welcome back to the channel where we talk about stuff. Don't forget to follow me on Twitter and on Facebook; links in the description below.
Yeah, so this one kind of took me by surprise. I'm shooketh simply because I didn't know that these were the actual numbers. For reference, if you want to be in the top 1% of Bitcoin holders, you should all know the number. It's like a four or five-year-old number: it's 0.28. You need to have 0.28 Bitcoin to be in the top 1% of Bitcoin holders on the planet.
We have not had numbers like this for XRP before. We've kind of speculated; numbers have been thrown around. But someone actually went through it, went through the wallet addresses, and found out exactly how much XRP you need in order to be in the top, top, top, top, top upper echelon of holders.
Someone by the name of Edo Forina, who was the CEO of Alpha Lincoln's AC—no, wrong, Lion's Academy—went through the addresses and figured out exactly how much you need to be rich in XRP terms in order to be in the top 10% of XRP holders. None of you are ready for these numbers. Like, do you know what's about to happen?
For reference, because I told this to my friend and he was like, "What?" For reference, there were originally 100 billion, with a B, 100 billion XRP created in total. So Bitcoin has 21 million; XRP has 100 billion. There's a coin burn that happens in the background, so I think we are at 97 or 98 billion, somewhere around there, as billions of XRP continue to get burned.
Let's say for reference sake, 100 billion XRP. Cool. In order to be in the top 10% of people on the planet, you need to have 3,011 XRP. I repeat, you don't need 100 million, you don't need a million, you don't need 100,000. You need—he said the number at the beginning of June—to be part of the top 10% of XRP holders was 3,299.
Because of the recent price increase that we saw due to the ending of the lawsuit between them and the SEC, that number actually dipped. As the price goes up, it's the same exact thing with Bitcoin. As Bitcoin goes up and becomes more valuable, basically, you need less to be in the upper levels of wealth, if you will.
So if you buy a home for $180,000, $220,000, and over the course of time it increases from $200,000 to a million dollars per home, you're now a millionaire. So you need fewer homes to be able to actually get to a higher percentage in the wealth bracket, if you will.
In June, it was 3,299. He said it is currently 3,011. If you have more than 3,011 XRP tokens, you're in the top 10% of holders on the planet. He said that approximately 523,000 wallets had this many XRP.
Now, for this metric, we can kind of say that this would mean 500,000 people on the planet. The issue happens to be that most people have multiple cryptocurrency wallets, and the average person has quite a few. So the idea would be to not have all your eggs in one basket. You would make sure that you kind of separate all of your coins so that they're basically not all in one place, just in case.
Once again, not all your eggs in one basket. If you want to be part of the top 5% of 8 billion people on the planet, if you want to be in the top 5% of people who are holding XRP, this number is crazy. You need to have 10,099 XRP. That is to say, rounding up, 10,100 XRP to be considered a shark.
Now, you might sit there and go, "How am I supposed to get to 10,100 XRP?" You know what's really funny about the cryptocurrency space when it comes to accumulation? Most people accumulate a tiny bit over a long period of time. There are a lot of people who probably were only accumulating 100 or 200 XRP maybe a month over the course of multiple years, and now these people are in the top 5%.
You remember the numbers I told you into the billions? You want to know why these numbers are probably so low? It's because whales and institutions have been buying for the better half of a decade in near silence. Do you remember all the news that we were getting before about the institutions?
For those of you who missed it, Ripple, the company, is currently working with at least 12 central banks. We've had news from the company Ripple before that countries, central banks, normal banks, and institutions around the world have been buying XRP from them a number of years ago.
Bitcoin maximalists made it their job to scare the living daylights out of everyone in crypto by saying that the amount of XRP that Ripple, the company, owned—past tense—that they were going to liquidate it all at some point. Why you would choose to lie like that is because you have nothing better to do with your life.
The idea was that the amount of XRP they had, when it hit a certain amount, the company would liquidate all of it, which isn't also how liquidation works. Because if you liquidate too much, the price begins to fall. The company Ripple is incentivized to hold on to their XRP for as long as possible because if XRP goes to a dollar, they made a lot of money.
If XRP goes to $5, they've 5x that money. If in the future the coin burn continues and XRP goes to $100 per coin, they would have looked pretty ridiculous for selling at 50 cents or a dollar or $5 when they would have enriched the company more than anyone could have ever believed.
So what the company had to do, and what they did on their own accord, is they locked up all the XRP that they had into a trust, and 1/160th of it unlocks every month. Therefore, if they wanted to liquidate their coins, it would take them five years—continuously and slowly, five years.
Everyone still with me? Good. Every month when they do unlock these coins, they release in transparent ways what they did with the coins. Sometimes they'll say, "We had an event; it's called Swell, and we needed money to run the event."
We did a so-and-so for the company, and we had to do this. The big chunk of where that XRP ends up going—because a lot of different websites consistently are talking about Ripple sold a lot of XRP this month—what are they doing with the price? You know where those coins went? Those coins went to governments. Those coins went to banks. They went to central banks.
And how do we know this? Because they release the information through their blog, and they also release the information through the actual information on their website. So you can see everything—transparency.
Then also, we've heard from multiple central banks around the world who said that they're currently working with Ripple, the company, to actually create their central bank digital currency or the country's stablecoin and put it on top of the XRP blockchain.
As you are working with this company, you as a government go, "Well, I want some of the coin as well." So we constantly have information monthly that a lot of them have NDAs—non-disclosure agreements. Someone's buying 200 million XRP from Ripple; someone just bought 350 million XRP from Ripple, and they've been buying for a long time.
Then on top of that, you have normal everyday people who understand the news and have been paying attention and have also been buying large amounts of XRP. And then you have the whales. If we get news all the time of all these whales who were buying up tons of Bitcoin and tons of Ethereum, what do you think is happening with a company that has partnered with 12 central banks?
Whales have also taken notice. But this is what I always talk about when it comes to whale accumulation: they do it in silence. When we get news that these companies and corporations bought $200 million worth of Bitcoin behind the scenes silently, other companies are doing the same. They're just not going on CNBC to announce it.
There are companies that are holding millions upon millions, probably hundreds of millions, of XRP. And that's why, my friends, you only need 10,100 to be in the top 5%. Because the people who took notice and who paid attention have been buying up large amounts of XRP for years.
What is the average person going to do when XRP hits $10 and they realize all these years they could have been buying small portions of it every single month? What is the average person going to do if XRP hits $100 per coin and these people realize that they could have gotten in in 2016 and 2017?
For those of you who weren't here, I told people about XRP before it was 1 cent, and I was like, "Something big is happening. Something crazy is happening with this company." And people were like, "Nonsense, makes no sense."
You only need 10,100 XRP to be in the top 5%. It says a total of 250,000 wallets are currently meeting that criteria. You want to hear what's even crazier? To be considered a whale, to have a whale wallet of XRP, to be in the very, very exclusive top 1% of 8 billion people on the planet, you need to have 61,237 XRP.
You wouldn't believe the amount of people I've seen on Twitter, on Reddit, on the internet who have, over the years, been accumulating XRP slowly—1,000 a month, 1,000 a month. They got extra money; they sold stuff around their house—more XRP, more XRP.
I see people on Twitter posting a lot of times when they hit these milestones. A lot of people have said, "I finally got to 50,000 XRP. It took me six years to do so, but I finally got there. I finally got to 80,000 XRP. I've been buying constantly over the years. I finally did it."
There are probably a good portion of you out there who, over the years, have also been buying consistently, and you are part of the 1% of XRP holders on the planet. The guy who had this information said that there are around 52,000 wallets—8 billion people on the planet. He said there are 52,000 wallets that meet this goal.
Even crazier, he said, is that when you have that much XRP, you probably don't have it all in one place. You're probably 10,000, 10,000, 10,000, 10,000. This leads me to believe there are probably only around 10,000 people or 10,000 wallets on the planet who will ever meet that 1% goal of the 1% of XRP holders.
I think the lesson here—this is personal, this is me personally saying it—I think the thing to take away is that slow and steady wins the race. I've had a lot of friends over the years who have constantly been discouraged by the idea that they'll never meet their financial goals.
If you want to have a lot of stock, a lot of dividend stocks, if you want to save money to buy an apartment, a condominium, a home, a lot of people will go, "Well, I only have $500 extra this month. I only have $150 extra this month." You forget that it's literally slow and steady wins the race.
How do you think all these people built wealth? Besides the people who were born with large amounts of money, everyone else takes their time. You put away some here, you put away some there. We forget that time moves forward.
Think of where you were five years ago financially and where you are now. What difference would there be if every month you had put aside $200? At the end of the year, that's $2,400. Over the course of a decade, what would you be able to do with an additional $244,000 right now?
People don't tend to think forward; they don't think ahead. 61,237 XRP puts you into the top 1% of XRP holders. I personally think XRP is probably—and I mean, if we can be honest here—there are probably only three coins that are kind of at the upper echelon of everything within the space, especially with Ripple, the company, having done so much with this coin and with this project in the last four to five years.
A lot of people will continue—you know, you can lead an investor to a blockchain, but you can't make them invest. We're going to see a continued amount of people not wanting to invest, not understanding, making excuses, whatever the case might be. I've seen it my entire life.
I told you all before, I didn't become rich and retire because I was like $8 million out of the womb. No, it takes a while. It took a while to get to where I am, to be this comfortable, and it's the same exact thing for everyone else.
Take your time, and I don't care if you're investing in XRP, ABC, BTC, stocks, land—do it slowly. Take your time; you will eventually get there. It's so easy to get discouraged. It happens, it happens, it happens. I promise you.
You sit there and go, "I want this; I don't have this. How do I get this?" It just takes time. If there's a coin, if there's a project, if there's something that you are trying to build or that you want, it doesn't matter if it takes 5 years or 10 years; you will get there. But you have to start now; it's the only way.
Didn't mean to shift gears towards the end of it, but it just takes time. It just takes patience, and you will get there. I promise you, I promise you, I promise you.
Yes, right! I told you none of you would even begin to guess what the numbers were. Don't forget, to be in the top 10%, you need 3,000 XRP. 3,000—top 10% of people ever on the planet.
Whales continue to accumulate; normal people continue to accumulate. I believe personally that the shift in wealth, the wealth transfer, is with crypto, and I think a lot of people are setting themselves up to be extremely wealthy in the future.
We've seen it over the last couple of years in the last bull runs, and I think this is only going to be a fragment of a fragment of people who are currently in the market because of this. A lot of people tend not to jump back into the market until the market's going back up, but you missed the last five or six years of accumulation.
At that point, you got to start somewhere. I do hope that you got something from this. I do hope that you've all enjoyed. I do hope you all are having a great day—morning, afternoon, evening—wherever you are, wherever the heck you might be. I do hope it's absolutely fantastic.
Thank you all once again for watching, listening, liking, commenting, and supporting, and I will most certainly be talking to you all soon. See you!