I never imagined I could become a millionnaire
I'm not one yet, but now I feel it's realistic to think that one day, I will be. This isn't a sudden lack of humility that struck me one morning. It just seems we're in a world where there's a scenario in which, by investing a certain amount of money now (let's say USD 10,000), it could grow to a million in 10 years, or less.
I was tempted to write that no skills are needed, but in fact, that's incorrect. Two skills are essential:
Patience: the ability to let time do its thing.
Discipline: the ability to not let greed or fear undermine the plan.
Why do I think it's realistic (for me, and for you too)?
I have USD 10,000 to invest, and you might also be in this situation. I saved this from my work as an employee over the past few years. I made sure I don't need it for my comfort in my day-to-day life, and I have more set aside in case I need to deal with life's unexpected events.
One million is 100 times 10,000. This means I need to achieve an ROI of 9,900% to become a millionaire.
The fourth halving will happen in just over a month (April 19th, 2024).
Put that date on your fridge, or don't, because it doesn't really matter.
I'm conscious of your time, and if you're still reading, let's get now to the point.
If you had invested $1,000 in Bitcoin just before the first halving, when the price was approximately $12 per Bitcoin, you could have bought about 83.33 bitcoins. At the current price of $64,000 per Bitcoin, your investment would now be worth approximately $5,333,333.33.
That is a 533,233% ROI. We need 9,900%, which is 53 times less than what was achievable with patience and discipline.
Beyond Numbers: Cultivating a Legacy of Patience and Discipline
This article ends here. As you could see, it's more an article about mindset than about methodology. Of course, the fact that a 533,233% ROI was achieved does not mean we can easily achieve 9,900% just because it's significantly lower. With this small text, I wanted to make you think not that it's going to be easy, but to understand that patience and discipline are incredibly valuable (in financial terms) in 2024.
Imagine taking action today and looking at this article in 10 years, in a world where Bitcoin is worth 6 million and is commonly used as an alternative to fiat money in day-to-day life. You'll read this article as a millionaire.
