How To Be A Millionaire?

[DYOR+BTC]

Saylor is already a millionaire from his initial business Strategy before he decided to invest in bitcoin, so it won't be too hard for him to expand his investment and wealth accumulation because he has already established funds to finance bitcoin. Unlike other beginners in bitcoin, they started from scratch and create slow progress until they'll gain massive profits from bitcoin.

However, we should not forget that there are also people who really do well on their investments, yet they still lose in the end. Maybe they just happened to invest in the wrong asset, or they are just not as good as successful investors are, and that investing is not in their fate.

There is one mistake people do make in life which is comparison, Saylor was a millionaire who came across business opportunities and them capitalised on it to become financially stable because of his investment in bitcoin why seeing such investment as a direct access to become a millionaire. For the fact that he did it and it worked for him never mean all bitcoin investment will work for the investor  because of the vulnerability of bitcoin, most invest and regret why investing while others invest and it pays off so never see is as a medium through which one can become a millionaire because the unexpected may happen at the long run

[passwordnow]

While OP said the natural way of becoming successful through assets and investments. But don't forget that there are other ways.
1. Inheritance.
2. Winning the lottery.
Welp, these two are the unusual ones but there are lucky people that hits the lottery and the jackpots and how they become rich.
And lucky are those who inherit riches from their parents that have worked hard to accumulate the assets and money they'll receive.

Inheritance is another example, but not lottery. I can't push lottery winner as a millionaire even if he wins millions. The reasons is because the money is never consistent, winning millions off gambling is not millionaire step, inherited investment where returns aren't millions monthly or daily isn't is too a well.

Let's say for an example that you've won millions through the lottery, that doesn't make you a millionaire? Inheriting money is almost the same as winning the lottery because you become an instant millionaire. Now the harder part is on how you'll sustain that wealth you've received.

Who I truly call millionaires are those that has a source that generate millions periodically, either daily, weekly or monthly. Hitting millions at once and never got to receive it again is said to own millions and never be millionaire.

That's okay if that's your preference I also have my salute to those people who worked hard and able to reach millions in their net worth.

[whiteblue]

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.

The most difficult thing is the initial stage in building a business so that it becomes a company that has a good turnover, if we already have a company and with a business that is running well then we can look for alternative assets for improvement or as a long-term investment as a company asset, but that is the last step that can be done after you have a company or business that can bring you to have a very large amount of money, well this side is the most difficult and not just anyone can have achievements up to that point.

[Hamza2424]

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.

He invested not so early but he was also not late, he was one of those people who first took bitcoin as a bubble too, and also said it will make people cry pretty soon. But he said that in 2013 or something, but he invested in Bitcoin after 2020 and since then, he has invested billions.

Even if his company is no longer a tech company as it is not on some index (list) that declares a company a tech company, because of its high involvement in Bitcoin and the books of this company are also filled with BTC transactions. Bro he was an optimist and those who were too and had money will make billions but those who have money and won't invest won't simple is that haha.

[Jatiluhung]

We can certainly learn from how the world's billionaires built their wealth, including how Michael Saylor used his company to build his wealth in the next stage. However, the problem lies in building that wealth from scratch. Many billionaires say that the real difficulty lies in the early to middle stages. From the middle to the top, everything becomes faster and easier, even though the level of risk is higher. Like Saylor, who built Microstrategy, it certainly required a tremendous amount of effort. But after he successfully built the company and then focused it on assets he analyzed would have a significant impact, such as Bitcoin, we can learn something from that. So this isn't about how we leverage a company to move to the next level. But we must learn how Saylor built his company from scratch.

[justdimin]

I am sure, aside from accumulating Bitcoin, he is also diversifying into other investments and business ventures.  It is common for smart businessmen to have 2 or more investments or business ventures to ensure that their financial flows to earn more is well established.

About Bitcoin, as long as it keeps on uptrending, no matter how it fluctuates, it will always be the most dependable asset and investment.

When you do make a lot of money, investing by diversifying is great. But for me, I always side with the person who reinvests back into his job, there is no limit unless you are Elon Musk, you can always reinvest and go bigger, even he can.

The best thing we are seeing right now is all those rich people actually believed in themselves and took a risk and that's how they became big entrepreneurs and wealthy people. Of course it comes with a risk, you may lose it all as well, so having a side investment would prevent that, but I rather take that risk. For becoming a millionaire, lots of strategic works needed and being prepared for risk taking would be the very first step toward that.

[BABY SHOES]

When you do make a lot of money, investing by diversifying is great.

Diversification This I do... no want to only rely on bitcoin alone by become millionaire.

The best thing we are seeing right now is all those rich people actually believed in themselves and took a risk and that's how they became big entrepreneurs and wealthy people. Of course it comes with a risk, you may lose it all as well, so having a side investment would prevent that, but I rather take that risk. For becoming a millionaire, lots of strategic works needed and being prepared for risk taking would be the very first step toward that.

Taking risks is part of our readiness for what will be done with the investment... if you do not dare to take risks, it is likely that you in the field of investment or business will not make progress, even though the risk is already part of it, they have calculated how many percent of the risk of loss and in terms of profit, so they will dare to take this step.

[m2017]

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.

Your entire text could have been condensed to the following: a business should have bitcoin as a strategic reserve, which will allow it to get rich like Michael Saylor.

Regarding Michael Saylora's and the Strategy's assets:
- Strategy buys bitcoin using the company's debt obligations. I'm not sure every business can afford that.
- All of  Strategy's accumulated bitcoin is unrealized profit, actually. Because this is not real money (not converted into money of the traditional system), because bitcoins must first be sold, and all the millions are “numbers drawn on paper”.

Not all companies will be able to replicate the same success as Strategy.


To answer your question in the thread title, you need to be a billionaire gambling \ investing in shitcoins.

[Gozie51]

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.

What we have seen in Michael Saylor is a business man who have found a business model of diversification and I think that is the super best way to be richer. I don't believe someone gets richer by being in just one business without diversification. Originally, strategy which is the business name of Saylor is founded for the purpose of creative business development and creating of software but it has also found bitcoin as a safe heaven for future asset development. Bitcoin for Saylor now is part of his major reserve which is creating more financial value and increasing his net worth. It is a lesson that is worthy to learn on how to be richer by diversification.

[Disconnecting]

We can certainly learn from how the world's billionaires built their wealth, including how Michael Saylor used his company to build his wealth in the next stage. However, the problem lies in building that wealth from scratch. Many billionaires say that the real difficulty lies in the early to middle stages. From the middle to the top, everything becomes faster and easier, even though the level of risk is higher. Like Saylor, who built Microstrategy, it certainly required a tremendous amount of effort. But after he successfully built the company and then focused it on assets he analyzed would have a significant impact, such as Bitcoin, we can learn something from that. So this isn't about how we leverage a company to move to the next level. But we must learn how Saylor built his company from scratch.

The more discussed the final decisions of billionaires are the more hidden the pain of the beginning is whether it is Michael Saylor or someone else when you look at them, it seems like everything changed after playing a big bet but in fact, it takes years of relentless work to get to the point where that bet is played. The main challenge in the beginning was to survive, choose the right problem, build an effective product, gain the trust of the client and build a strong team and if you make mistakes in these steps then you cannot take advantage of all the opportunities that come later.

In the case of Microstrategy the Bitcoin decision was the next chapter before that it was to consistently create business value so I think this is where we can learn when starting a business. Without cash flow, efficiency, credibility, “middle to top” never comes because big success is actually the sum of small monotonous decisions.

[xiamin]

Michael Saylor is one of the brave investors. He is a person I have met in the world who has turned his company "Strategy" into a corporate entity for Bitcoin accumulation. His strategy is to continue accumulation no matter how much the price of Bitcoin increases or decreases and he believes that the price of Bitcoin will touch $1 million in the future. Even at the current price situation Saylor is planning to buy Bitcoin and tweeted in X last 2 days ago to buy more Bitcoin. He is a successful entrepreneur and an inspiring person for Bitcoin investment in the world. He is a successful motivator for Bitcoin.


https://x.com/saylor/status/2014342830668263718?s=20

[Sarah_Jannat42]

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.

In a word- the person who has knowledge, skills, fine judgment and analytical skills, courage and the ability to use opportunities wisely will be a millionaire. The examples of this cannot be exhausted, but to present it simply, if we practice the biographies of all the successful people in the world we will see it.

[ecnalubma]

Michael Saylor is a very popular character in the crypto industry... 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.

Michael Saylor’s strategy with MicroStrategy is definitely one of the most interesting case studies in modern corporate finance because it challenged the traditional idea of what a treasury should look like. Most CEOs are taught to keep their company’s excess cash in safe instruments like short-term government bonds, but Saylor realized that in an era of high inflation, sitting on cash is actually a slow way to lose wealth. By converting his company's balance sheet into a Bitcoin backed engine, he essentially transformed a software firm into a proxy for the world's most scarce digital asset.

While his move was incredibly bold, I think the most important lesson for the average investor is exactly what you mentioned the need for a diversified growth engine. A business provides the cash flow, but you need a hard asset to store that value so it doesn't get eroded by the devaluing of fiat currencies. Saylor didn't just gamble on a new trend he identified a structural weakness in the traditional financial system and used his existing success to pivot toward a more resilient future.