How To Be A Millionaire?

[Furball808]

Michael Saylor is a very popular character in the crypto industry. He has turned his company, Strategy, into what is now one of the biggest holders of bitcoin. Saylor’s bold moves made Strategy’s shares skyrocket as bitcoin rallied. His initial business wasn’t associated with crypto but now it’s probably its biggest asset.

Saylor continues to buy more bitcoin. This is not saying to drop everything and put all your money into bitcoin. But what made Saylor a smart man is that he was able to find what would be a potential profitable asset and used his existing business to build his wealth. Life doesn’t stop at just creating business. You need it to grow and you need to find other assets to supply the company and make it grow even more.

[Inior]

Indeed Michael saylor is a smart dude for leveraging Microstrategy on bitcoin, however his ability to function as a while also has a significant impact in the market and that's what makes his strategy unique. But yet, that doesn't mean anyone can implement this strategy and it would work for them because there are sacrifices that Michael Saylor pays to get to that level and that includes higher risk tolerance like borrowing from banks to buy more bitcoin. Not everyone can do this due to the nature of their business or their accepted risk tolerance level. Since there are no certainty to where price can head to, it would be much preferable to use proper risk management and work within your risk tolerance.

[abhiseshakana]

From your explanation i can conclude that owing a business is not end piur[pse, business is only a tools for wealthy stacking. He use existing business structure to accumulate new asset. I read his online short biography from many sources, found that he has high conviction with long term horizon, he do deep resert on macroeconomy , and very consistent and stand still for years and hs  no disorientation due panic. So i can conclude he has mature confidence and non reactive to volatility. He is consistent even bitcoin drop, even cycle change and he doesn't sell bitcoin for short term gain. IT can be seen he has good under extreme pressure emotion management also. As ui can see from my experiences panic causing bad decision choosing, calm mind people can produce consistency which produce fruitfull reputation and wealth compounding.

Beside above i think reputation plays role in the end, he already has public reputation, market access, investor trust and intelectual quotient so when he take big action, market listening, media make it news and other follow.

[Rruchi man]

Life doesn’t stop at just creating business.

Michael was able to become a millionaire from creating a business, but not everyone will be able to become a millionaire from business because business is not for everyone. Luckily for those individuals, there are other ways to become a millionaire; it is not just through business.

You can become a millionaire from investments, you can become a millionaire from a high-income skill that you learn and develop, you can become a millionaire from social media, etc.

The strategy is simply to identify how you can be a millionaire and then make it work.

[Mhizlove]

From what I understand. saylor's experience shows real intelligence on business and not about staying in one thing permanently, is all about recognising new or fresh opportunities very early rather than staying like that , it should be used to expand what you want to achieve. He didn't abandon his company and that was a move with wisdom, rather he just strengthen it by allocating his resources to an asset with the believe that it will turn out to be a long term in value.

This kind of mindset do reminds us that building wealth is not by starting a business and it don't end on the business aspect but the growth always comes from wise asset allocation and also keeping up with change or new evolution.

[9ja Amaka]

Saylor's technique is strategy on how to stay a millionaire not become a millionaire. Michael Saylor was already a millionaire before MSTR began investing in Bitcoin. He maintained the prospect of being a millionaire by influencing the Bitcoin market, with little regulation due to the buy and sell. If MSTR do not have such money in their custody, they wouldn't be able to influence the market much. Now if MSTR announce a massive sell, you will see the impacts in minutes. What I have learn here is that, capital is a great tool to remain a millionaire.

[Royal Cap]

Actually, he's not the kind of person who suddenly got up one day and poured everything into Bitcoin. He first established his business then understood where the future opportunities were. This is where I think he's smart, I personally think that not everyone can take risks like him and that's okay. But one thing is clear, just starting a business doesn't end the work. You also have to expand your thinking over time, If you don't learn to understand new things and seize opportunities at the right time, growth won't come.

[Free Market Capitalist]

First of all, the title of the thread does not correspond to what the OP says. Second, Saylor is not a millionaire, he is a billionaire. And what you say in the OP is rather poor, along the lines of “he is so cool.”

You can say good and bad things about him, if you dig deeper. We already know that he's a very good salesman and does a good job of popularizing Bitcoin. Another positive aspect is that in 2012 he published The Mobile Wave, a book that does well because he is more than prepared to understand the technological changes that are coming. He was spot on. That doesn't mean he'll be right this time, but he is a qualified voice.

But if we look at the negative aspects, in the early 2000s he was accused of accounting fraud at his company and ultimately reached a settlement by rewriting financial results and paying a fine. Also in 2024, he had to pay $40 million through a settlement for a tax fraud lawsuit.

[Zlantann]

Michael Saylor is a very popular character in the crypto industry. He has turned his company, Strategy, into what is now one of the biggest holders of bitcoin. Saylor’s bold moves made Strategy’s shares skyrocket as bitcoin rallied. His initial business wasn’t associated with crypto but now it’s probably its biggest asset.

Saylor continues to buy more bitcoin. This is not saying to drop everything and put all your money into bitcoin. But what made Saylor a smart man is that he was able to find what would be a potential profitable asset and used his existing business to build his wealth. Life doesn’t stop at just creating business. You need it to grow and you need to find other assets to supply the company and make it grow even more.

You are making it look as if you want to be a millionaire, you just have to buy Bitcoin. Michael Saylor’s strategy of Bitcoin accumulation is not devoid of risk. A sharp drop in the price of Bitcoin would hurt his company. As investors, we must always recognise that there is no total guarantee that profit will be realised as predicted.  Bitcoin has shown be a reliable asset to invest in. However,  it is also wise to diversify your assets.

[Sticky Bomb]

Saylor continues to buy more bitcoin. This is not saying to drop everything and put all your money into bitcoin. But what made Saylor a smart man is that he was able to find what would be a potential profitable asset and used his existing business to build his wealth. Life doesn’t stop at just creating business. You need it to grow and you need to find other assets to supply the company and make it grow even more.

Well, Saylor and Strategy has been the reference point for modern day smart investing. This narrows down on the importance of identifying a promising asset and investing into it for the future. Saylor discovered bitcoin and used it to build wealth and strategically position his company as a leading figure which increased the value of his company stocks significantly over the years.

Another thing that is noteworthy is his desire to go long-term in bitcoin which teaches another lesson that wealth are built over a long time of consistency and dedication to your investment vehicle(s) of which it is good to diversify. Saylor & Strategy continues to buy bitcoin and maintains the relevance and image he has built for his company being the first publicly traded company to buy and hold large chunks of bitcoin as a cooperate treasury reserve and as interests increases, other company like Blackrock, Vanguard e.t.c followed suit through bitcoin ETFs.

[Bluedrem]

You may not be as lucky as Michael Saylor. In that case, whatever you do, you have to do it from your position. Michael Saylor's plan was perfect. So far, his company has been leading in terms of profit indicators, but imagine where they would be today if Bitcoin had faced a long-term crash for some reason. Of course, the value of the strategy would have been much lower. That's why you need to think carefully about whatever decision you make. Don't forget that one right decision can change your life, but one wrong decision can destroy your life.

[Kelward]

How to be a millionaire goes beyond what Michael Saylor, is doing in cryptocurrency which is accumulating Bitcoin, Bitcoin is an investment which means that you need money to put into it. If Saylor, doesn't have enough reserve funds to be buying Bitcoin with I don't think that we will be hearing his name today in the Bitcoin market, he is able to buy in lump sum because he was already very rich before going into Bitcoin investment.

I've always known that to be a millionaire you have to think like a millionaire and what does millionaires do, they create multiple sources of income Incase something happens to one source they will be sustaining from the other sources. This is what Saylor, is doing he is diversifying his income into a profitable asset like Bitcoin. I believe that despite the flashy lifestyles of millionaires and billionaires they still leave bellow their means, this is what many poor people don't do, they spend all their money for various reasons. If your income cannot afford you to save and invest it'll be difficult for you to become a millionaire.

[Marvelockg]

Saylor continues to buy more bitcoin. This is not saying to drop everything and put all your money into bitcoin. But what made Saylor a smart man is that he was able to find what would be a potential profitable asset and used his existing business to build his wealth. Life doesn’t stop at just creating business. You need it to grow and you need to find other assets to supply the company and make it grow even more.

The ability to spot an opportunity and jump right on it is one of the things that makes a difference in terms of who climbs the ladder of financial success faster enough. believe this that there are a lot of millionaire that had money sitting in their banks at the they could have bought bitcoin at a cheaper rate. they do not buy it because they lacked the ability to be descaining enough to know which asset to invest in even though they has the resource at the time.

their are different asset one can invest into, some will be profitable in the long run and bring about multi dimensional millionaire while others might not be and investing in such things has the potential of affecting your finances greatly. if you invest into the right thing at the right time, it is the surest way to grow your finance and upgrade into a financially stable person without having to do so much.

[Rockstarguy]

It is not Bitcoin that made Michael Saylor a millionaire; he is a good businessman who has been consistent with what generates money for him. However, he chose to use Bitcoin as a strategy to make more profit. His embracing of Bitcoin and hodling it very well has led some people to think that Bitcoin made him what he is today. Yes, Bitcoin has played a wonderful role for him.

People just need to work very hard because their efforts in generating money for themselves is what will make them wealthy, and it becomes a bonus for them when they choose to hodl some amount of their wealth in Bitcoin. As for those who haven't made millions of money from their business or investment, we need to learn how Michael Saylor took advantage of Bitcoin to gain more financial stability.

For low earners, Bitcoin can still be considered a strategy for financial support; you don't need to make millions first before hodling Bitcoin. Consistency in expanding business and hodling Bitcoin yields more financial profits.

[sunsilk]

You need it to grow and you need to find other assets to supply the company and make it grow even more.

And that one asset is with Bitcoin. What we have to do is to hold it for a long time until we see it become profitable. Those who have bought it lower than $3k and are still holding it, they're winners.

And holding one or a few of it will make everyone millionaires if the price reaches to the point of being a $1M.

Before this kind of price predictions is being laughed on. But this time, it gets more serious and more people are looking forward to that price.

[justinlamode]

Your post is just telling us about Michael Saylor who have increased the wealth of his company by investing in Bitcoin, I was thinking you will draw a correlation between that and other contemporary businesses or give us your outright recommendation on how to become a millionaire.  You statement did not offer much help since we know that it is not everyone that can do what Michael Saylor have done even though the desire may be there. Buying Bitcoin under the current market condition is not going to make anyone a millionaire overnight, it will take a very long time to see the gains of Bitcoin although it is highly recommended to buy Bitcoin and hold.

[o48o]

Michael Saylor is a very popular character in the crypto industry. He has turned his company, Strategy, into what is now one of the biggest holders of bitcoin. Saylor’s bold moves made Strategy’s shares skyrocket as bitcoin rallied. His initial business wasn’t associated with crypto but now it’s probably its biggest asset.

Saylor continues to buy more bitcoin. This is not saying to drop everything and put all your money into bitcoin. But what made Saylor a smart man is that he was able to find what would be a potential profitable asset and used his existing business to build his wealth. Life doesn’t stop at just creating business. You need it to grow and you need to find other assets to supply the company and make it grow even more.

I am not going to assume anything about how smart Saylor is, as haven't heard him talk. At least anything that could be considered smart. But bold is one way to go, at least when you succeed. If you don't thrive by doing something "bold", then you have just been stupid in hindsight.

But it's funny how people seem to think that everyone could be millionaire if they followed those right bold steps. Because that's not how capitalism works. In order to there be millionaires and billionaires, power dynamics of world population need to be disproportional. Millionaires need poor people to have leverage of "richness". So there are only so many places for taking "right" steps, and your connections definitely help with that.

[coin-investor]

But what made Saylor a smart man is that he was able to find what would be a potential profitable asset and used his existing business to build his wealth. Life doesn’t stop at just creating business. You need it to grow and you need to find other assets to supply the company and make it grow even more.

It comes with experience and hours of studying the business. Once you are deep into putting analysis into what you do, you develop an insight that guides you on the right road for your business, for maximum profitability and growth. Michael Saylor has developed that insight and uses it in the market.

We all want to be another Michael Saylor, but we cannot do that if we do not dedicate ourselves to endless hours of study, as Michael did.

[peter0425]

Life doesn’t stop at just creating business.

Michael was able to become a millionaire from creating a business, but not everyone will be able to become a millionaire from business because business is not for everyone. Luckily for those individuals, there are other ways to become a millionaire; it is not just through business.

You can become a millionaire from investments, you can become a millionaire from a high-income skill that you learn and develop, you can become a millionaire from social media, etc.

The strategy is simply to identify how you can be a millionaire and then make it work.

Indeed there are many ways to be a millionaire

Some people who work for companies can end up being a millionaire through savings and investments i feel like in this time and age though it’s important to have more than just one source of income if we really want to secure our wealth.

[aylabadia05]

Saylor is a savvy investor who sees opportunities and dares to take risks on opportunities that he believes will make him smile.
From Saylor, we can learn how to be careful in seeing opportunities and how to act without hesitation even when surrounded by dismissive opinions.
Not only Saylor, but there are also examples of people I know who now have wealth from owning Bitcoin since 2012. But don't be mistaken in viewing Bitcoin as a way to get rich quick.