Michael Saylor Has A Tip For Average People Looking To Grow Their Wealth By 100x, But He Doesn't Want You To Quit Your Job To Invest In Bitcoin

As Bitcoin BTC/USD pursues fresh all-time highs, Strategy Inc. MSTR Chairman Michael Saylor’s wealth multiplication strategies for average wage earners, revolving around the apex cryptocurrency, are back in the spotlight.

What Happened: In a recent interview with podcaster Natalie Brunell, Saylor was asked about the best strategies for an average person to grow their wealth by 100x.

Saylor advised traders not to quit their jobs and avoid extravagant spending on luxury items like sports cars like Ferrari and yachts, which he described as “obscenely expensive.”

“You would be better invested in an asset that’s going up 30% a year for the next 20 years, Saylor said, suggesting they rather buy Bitcoin, which he estimates will balloon to $13 million apiece by 2045.

He further recommended leveraging mortgage debt to invest in Bitcoin.

“If I have any kind of property you know, if I have a house, I would put a long mortgage on it, a 10-year mortgage or a 15 or 20-year mortgage on it, especially a conforming loan and then I would roll it into Bitcoin,” Saylor said. “It’s the cheapest form of permanent capital that someone can get.”

Saylor’s argument was that mortgage debt is secured against a “fairly stable” asset and the interest rates are subsidized by the government. However, data showed that mortgage rates have been steadily rising.

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The 30-year fixed mortgage rate shot up to 6.90% for the week ending May 9, up from 6.81% the previous week and reaching the highest level in two months. This marked a sharp increase from the 3.5% rates seen before 2022 that resulted in a Covid-era housing boom.

Why It Matters: Saylor’s advice underscored his belief in Bitcoin as a long-term investment. One of the most vocal advocates of the apex cryptocurrency, he has put his money where his mouth is, driving his firm Strategy to the forefront of Bitcoin’s corporate adoption. As of this writing, Strategy held a stash worth over $59 billion as of this writing, according to bitcointreasuries.net.

Price Action: At the time of writing, Bitcoin was exchanging hands at $104,165.07, up 0.98% in the last 24 hours, according to data from Benzinga Pro. The cryptocurrency briefly rose above $107,000 late Sunday evening.

Shares of Strategy closed 0.70% higher at $399.80 during Friday’s regular session.

MSTR stock exhibited a very high momentum score as of this writing. To find out which other companies logged a momentum score in excess of 90, visit Benzinga Edge Stock Rankings.