This can depends on the location of the person, but my on side I can called myself a rich person because right now one bitcoin cost $30,799 and the rate of dollar in myself now is ₦1200 so if you multiple 30,799 by 1200 you will have ₦36,958,800 which is huge amount here in my side. Even though things are very costly with this amount now someone can achieve so many things like building a house let say three bedroom flat with complete ideas needed in a house like air condition, refrigerator, toilets fittings including hot water system, kitchen and also decorations of all the bedroom, sitting room, dinning room, even buy a simple domestic car and they will still be some changes that will remain.

1 btc to php is already 1,750,862.44 Philippine peso which means you’re already a millionaire in our country if you hold even a single bitcoin. So how much more if you hold more of it, then you’ll be a billionaire once you decide to sell it and gain huge profits. That amount can already buy you house and lot, and luxury cars and live a very comfortable life.

However, if you hold your bitcoin and decide to panic sell at a bearish price, then most likely the value will also depreciate. If that happens, instead of earning a million, your profits will certainly decrease because you sell your bitcoin at a very wrong timing.

Well, it depends on your location as in some countries a single Bitcoin is enough to be rich while in other countries you may require multiple Bitcoin to be rich. If you live in poor countries of Africa then surely 1 Bitcoin is a sign of richness and there are a few countries in Asia where holding 1 Bitcoin will make you a rich person.

On the other hand if you're living in a country like United States, Canada, United Kingdom, United Arab Emirates, then 1 Bitcoin won't make you rich at all. The current value of one Bitcoin is over 30k and if someone has 30k in a poor country like  South Sudan then that person is surely among the rich ones and if someone has 30k in a rich country like Luxembourg then that person can't be called as a rich person.

The level of richness varies from one location to other location so in one country someone with $20k is considered as a wealthy person while in other country someone with $20k is not considered as a wealthy person.

It also depends on the country and region you live in. If you own 1BTC in my country it is very normal and you are just one of those people with average assets, you are not rich. When we talk about bitcoin it means that bitcoin has the potential to bring us high profits, not that owning 1bitcoin or 2btc will make us rich. With the current value of each bitcoin worth $30k, that's actually a pretty small number to call rich.

Being rich is relative. Again, we're yet to come to the end of 2023 to ascertain what amount per the price of Bitcoin you're looking at to guage who's rich or not. At the current price, Bitcoin is trading slightly above $30k. It wasn't so a few weeks ago. It can even go pass that a few weeks from now or relapse to the $20k region again. In my country, $30k is a substantial amount of money, and yes we can describe someone hodling one Bitcoin as rich in my country. This, of course, won't be the reality in other countries.

The answer to this query depends on many factors like the country you are living in, the inflation rate, the health of the local currency you are using, the dollar rate in your currency, etc., etc. For me, the current dollar rate is around 288pkr and If I will convert the 1 BTC to local currency then it will become around 86,40,000 PKR, which is enough to make me rich.

Well, another factor that matters here is, what are your definition of being rich is, if you think rich is having enough money to buy anything that comes to your mind, like some car, house, or brand clothes or fashion wares then 1 BTC (at current rate) is not enough even in my local currency. So, I would say, no 1 BTC will not make you rich.

But if you take rich as having enough money to fulfill only needs and no wishes then you are rich enough, to spend 8 years max and a minimum of 5 years, which are obviously not enough.

define rich
lets say this, would you consider yourself rich if you lived the all of your working life (20yr->85yr) on minimum wage?.. no? ofcourse not.

now take your countries minimum wage and multiply it by 65. and the total amount is NOT rich..
if 1BTC is not above this amount, you are not rich

32000PKR is one month minimum wage in pakistan
bitcoin: 8,841,600PKR($30,700 * 288)

8,841,600 32000 = 276 months = 23 years of minimum wage

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12400 is one month minimum wage in Philippine Peso
bitcoin: 1,749,900($30,700 * 57)

1,749,900 12400 = 141 months = <12 years of minimum wage

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is 11-23 years of minimum wage.. rich?

If a person have got everything necessary for his living and have got 1BTC in the wallet, then we can term them as rich. In my country a person having the amount of fiat equal to one bitcoin can be considered rich. Every four year in bitcoin used to be good for the holders.

The price of bitcoin varies and this determines whether you're rich or not. When the price of bitcoin was around $5000, and if one have kept hold of 1BTC then he can't be considered rich.