Nigeria Lost 47% of Its Dollar Millionaires. Would Bitcoin have helped?

[Exitoral]

I came across this news and it stated how we lost almost half of our dollar millionaires in 10 years. Many people are too focused in creating wealth which is not bad. But are forgetting the underlying principles of preserving and protecting that wealth. Wealth is not all about making more money but safeguarding what you already have to get more. So where does Bitcoin fit in all this. In as much as we still kept 4th place in Africa, there's still a need to tackle the problem before it gets out of hand.

People may already have in mind how to preserve their wealth through very common method which are real estate, stocks, local businesses and so on. Which is good practice. But wealth diversification is necessary to preserve wealth and Bitcoin is one of them and cannot be left out.

If all those dollar millionaires did all that wealth preservation and still lost. That means a good number of them never invested in Bitcoin. That's because between 2015 and 2025 Bitcoin made a massive increase of more than 27,000%. That's gold mine there. They didn't know about Bitcoin and what it would have done for them. Bitcoin wouldn't have just preserve their wealth, but it will made their wealth increase at a rate of 27,000% in just a decade. Which Nigeria lost within that period.

This shows that wealth can disappear and investing in critical asset like Bitcoin can make a significant positive difference in wealth preservation and increase. Maybe they didn't know or they did and didn't pay much attention to it.

Let's paint a scenario. What if you were in their shoes. A millionaire in dollars as at 2015. Would have Bitcoin be part of your investment portfolio? And if yes, what percentage of your wealth would you have allocated to it and if no, why?

[Charles-Tim]

The problem is that if you are into a business, you may not have much of your money in bitcoin. Know that someone's asset is not only about the money the person is having in his bank account, the worth of his business will be part of the estimate. Also that they need to have naira and other fiat in bank just to make the business running. It is not easy as you think, but as they are building their businesses, they can also build their bitcoin accumulation.

[fredericktaylor]

By investing with discipline, confidence, and long-term holding of Bitcoin with a long-term plan, an investor can protect valuable money from inflation in the future and hope to profit from Bitcoin in the long term.

Investing all your money in one place increases the risk, making the risk of losing money relatively high. Therefore, it is very important for a person to diversify their investments, so that even if one or two investments do not succeed, the rest of them are likely to succeed.

Investing means risk, so taking risks is essential to achieving great success. There are risks in investing in Bitcoin, but if we adopt the right strategy, buy Bitcoin with discipline and hold it patiently for a long time, and do not get disappointed quickly by the volatility of the market, we can confidently use every opportunity correctly and patiently wait for the price of Bitcoin to increase, as a result, we can expect to make long-term profits from Bitcoin in the future. Bitcoin is very volatile and fluctuates rapidly, so it is never possible to be confirm that we will make money quickly through investment.

[Cryptoprincess101]

As of 2015, not many Nigerians were into bitcoin so it is unrealistic to think that any millionaire would have chosen to invest in bitcoin at that time. Besides, business men needs money all the time to run their businesses which means that if they had invested in bitcoin, they may not have hold it till today. They would have sold it long time ago and use that money to invest in their businesses.
      Some of the business men I know do borrow money from banks to finance their businesses, so don't think that because they are millionaires that they will always have discretionary income all the time.

[Chinesebaby]

This shows that wealth can disappear and investing in critical asset like Bitcoin can make a significant positive difference in wealth preservation and increase. Maybe they didn't know or they did and didn't pay much attention to it.

Let's paint a scenario. What if you were in their shoes. A millionaire in dollars as at 2015. Would have Bitcoin be part of your investment portfolio? And if yes, what percentage of your wealth would you have allocated to it and if no, why?

It's that from 2015 to 2026 Bitcoin have skyrocketed up to 27,000% in profits, but it's also very possible that none of these Nigerian dollar millionaires never knew about Bitcoin by that time, because to be honestly speaking, Bitcoin only started to become popular in Nigeria in 2019, 2020 and 2021 majorly as a trusted asset people could confident put their money in it and be sure of its safety here in Nigeria. However, let's not also forget that the inflation which affected our currency is another factor that might have also contributed this this, because you definitely can't compare in 2015 when a single dollar was worth around #180 Naira to today that that same single dollar is now worth #1380 per $1. Because all these are also factors to consider, rather than just putting all blame on failure to investing in Bitcoin, because it's no doubt, Bitcoin is the best asset to invest in for long term investment profit potentials