Let be the optimal constants satisfying the multilinear (real or complex) Bohnenblust–Hille inequality. The exact values of the constants are still waiting to be discovered since eighty years ago; recently, it was proved that has a subexponential growth. In this note we go a step further and address the following question: Is it true that Our main result is a Dichotomy Theorem for the constants satisfying the Bohnenblust–Hille inequality; in particular we show that the answer to the above problem is essentially positive in a sense that will be clear along the note. Another consequence of the dichotomy proved in this note is that has a kind of subpolynomial growth: if is any non-constant polynomial, then asymptotically equal to Moreover, if then

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