← Konnected Minds Podcast with Derrick Abaitey
Konnected Minds Podcast with Derrick Abaitey
The Million Dollar investment strategy to build generational wealth in Africa
01:20:30
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- [00:00]
A
We will see Bitcoin hit $1 million in the next 10 years. I have always wondered, for the individuals who feel like they are priced out, what opportunity do they have to create generational wealth? And I waited all of my life diligently searching for the answer. And in 2016, I stumbled upon it. Derek, the answer is bitcoin. Our people need to have exposure to digital assets. It's just so important. If they keep their money saved in cash, it loses value every single year.
- [00:46]
B
What is your plan for me to grow my money?
- [00:49]
A
My simple answer for you is, are.
- [00:53]
B
We too late to invest in bitcoin?
- [00:55]
A
We are not late.
- [00:56]
B
I wanted you to give me top five digital assets.
- [01:00]
A
I would say 70% Bitcoin. Yeah. 20% Ethereum. The 10%.
- [01:16]
B
Podcast. My name is Derek Abite and I'd like to welcome you. If you've been watching and listening, I'd like to let you know that from today you can go on Apple Podcast, Spotify and search Connected Minds Podcast. And you can listen to our podcast when you're driving, going to work, when you're at a gym, or when you're going for a walk. The podcast is everywhere or any platform that you listen to your music on. You can also have Connected Minds podcast on. My guest today is an investing tutorial. That's what people know him on social media. Dr. Hans is my guest and he's going to talk to us about digital asset classes specifically. He loves bitcoin and he's in Ghana today, so we're linked up to have a conversation. So for the people who are looking to build wealth, looking for means that over time, you can grow your money. This is a conversation for you. This man is also a pharmacist who's quick to teach people how to build wealth. So he's a friend of mine. We're both pharmacists, but we're not going.
- [02:23]
A
To talk about pharmacy.
- [02:24]
B
We're talking about money. But welcome to my studio. Dr. Hans, how are you?
- [02:27]
A
Very, very well. Thank you for having me. Yeah.
- [02:31]
B
And you're welcome to Ghana.
- [02:32]
A
Thank you.
- [02:33]
B
Yeah. I love what you're wearing, man. You are. You are representing always.
- [02:37]
A
Yeah, all the time.
- [02:38]
B
Yeah.
- [02:39]
A
I would say almost 90 to 95% of my clothing are Ghanaian kaftans.
- [02:45]
B
Love it, love it, love it. So how would you describe what you do?
- [02:50]
A
I'll describe it as financial liberation. It's interesting, as you said, that the idea or the story of Moses kind of comes to my heart. Yeah. People are in captivity financially. They don't realize it and just here to set them free.
- [03:14]
B
How did that journey start?
- [03:18]
A
Took a deep breath because it's been a long, long journey. My mom wanted me to be a doctor. Her idea of that was because she's like, oh, Hans, you care about people. I was a little boy who, if someone got hurt, I'll stop playing and go and attend to them. So she saw that as that kind of caring. And also financially, she's like, oh, they don't make money, they make money. So my son will be a doctor. I'll say, you know, after uni, I was looking at, or during uni, I was looking at the different areas of healthcare or if I could say, the doctorate degrees out there to see which one more aligns with my personality. And I was drawn to pharmacy. And the reason I was drawn to pharmacy was because a pharmacist is a health professional who is accessible. You don't need to schedule an appointment to go talk to a pharmacist. You can walk into any pharmacy and get instant access. And also that individual can listen to you and be able to understand, okay, what over the counter medication would be appropriate. Even sometimes now with clinical pharmacies, they can understand what prescription medications would be ideal for someone. So that access and also someone who is very knowledgeable in a particular subject area, I was drawn to it. So that's what kind of led me into pharmacy. Long story short, I was pursuing this path. I got actually a clinical pharmacist role, even though I had a heart for business. So I pursued a path of distinction mba. I ended up in a clinical pharmacist role. During that time I was running the investing tutor part time and then clinical pharmacist full time. And I believe that that was the best, best of both worlds. Earning six figures as a pharmacist and just a little bit of money, to be exact, $20,000 running investing Twitter part time. At that time I had my plan that I'll juggle both. But I believe God had other plans because overnight things changed. My director, someone who actually hired me and someone I was close with just turned against me and was eager to get me removed from that position. So it was right around that time that I made the personal decision that, you know what, let me take a leap of faith. If this side business that is earning me about 20,000 a year, but I focus on it about three to four hours a day, if I could focus on that business 12 hours a day, what would be the result of it? And that's what led me to Take that leap of faith. I'll never forget. I came home, the company I was working with, the hospital, they had offered me a transfer to a different pharmacy because they could tell that the relationship with the director wasn't ideal, and they wanted to make amends. And they asked me, hey, would you like to transfer? I told them, no. Remember going home? And my wife was like, so which hospital are you being transferred to? I told them, I'm going to work on this business, and I'll never forget. A tear just dropped down her face. She didn't say, don't do it, because she knows her husband. Once his decision is made, it's made by the tear. And it's not because she was against that route. But as you know from your experience with entrepreneurship, there's no guaranteed paycheck. There's no guaranteed deposit of money in your bank account. You have to go out there, provide value to the world, and no one knows how long that is going to take for you to begin to see the results. That's a little bit about how I ended up diving into financial education.
- [07:46]
B
The part I want to know is what led you to actually start investing.
- [07:54]
A
Tutorial. Yes. A close friend of mine called me. He told me that his sister is in deep fear and she has anxiety. And I asked her why. He said, hans, her student loans gives her anxiety. And at that time, I had been studying the financial markets for about. Let's call it, 10 years. And I said, why is she worried about student loans? Anyone who understands the US Financial market will understand that a student loan is the best debt to have in America. Very controversial statement, but it's factual. Many people didn't believe me when I was saying this. In 2016-2017-2018-2019, then Covid hit, and they paused student loan payments for three years. The only debt that was paused for three years. People had to pay their mortgage, people had to pay their credit cards, people had to pay their car bills. Student loan was paused for three years. That's even a minor fraction of why it's better than any other debt. But I don't want to kind of go, yeah, a side tangent. So I told my best friend, let me speak to her. I got on the phone with her. I told her, do you know that there are 13 different repayment options for student loans? Call the loan service provider and pick one that fits your financial budget.
- [09:29]
B
Right?
- [09:30]
A
She was like, hans, are you sure? Hans, I'm so scared. I don't think I can even get married. I don't think I can Buy a house, because it stresses her out. The thought of having student loans. I told her I'm certain, call them. She called, they put her on a payment plan for her student loans where she's only paying. And this is very, quite common for those who know about it. You pay 10% of your income on the loan, and after about 10 years or so, it's forgiven. And this is for individuals who maybe are in the healthcare space, for other people who are in different industries, maybe they might have to wait 15 years or 20 years, but it can also be forgiven as well. So that piece of information changed her life, Derek. A year after our conversation, she got married. Beautiful wedding, and they purchased their first home. That was the start of Investing Tutor. That experience made me realize a lot of people don't know much about the financial system. And then from there, right during that week where I spoke to their sister, a close friend of mine from Ghana that I grew up with, he called me, hey, Hans. I just started a brand new job, and I keep hearing these things, stocks, stock stocks. But I know nothing about stocks. And I was shocked. I was like, what do you mean you don't know anything about stocks? So I went to Google and I searched Investment Tutor because I assumed that there has to be a tutor on investing, right? And the search results came, and there wasn't a single person in America or anywhere in the world who was an investment tutor. And that's why I was able to earn the title of the first investment tutor in America.
- [11:29]
B
Why are people not being educated about money?
- [11:36]
A
Believe it was Henry Ford who said, if people truly understand how money works, there'll be a riot the next day. The truth is that people are so busy, Derek. People are busy with earning money. They haven't taken time to understand how it's created, how it works. So it's almost like it's a distraction. People don't realize that to make money, it's not a factor of how much you are paid. There's different elements to it.
- [12:23]
B
Talk to me.
- [12:28]
A
I read this book, Andrew Carnegie's book, and it was right at the early phases of me truly understanding wealth creation. And in the book, it was almost like an interview this person was interviewing, similar to what you're doing right now, interviewing Andrew Carnegie. And for those who don't know Andrew Carnegie, he was the richest man in the world. At one point, the interviewer said, andrew Carnegie, you are the richest man in the world. You can pay all of your employees the same salary. Why are you so wicked? Why are you so Cruel. Why are you paying them pittance? And when I read the interviewer's question at that time, because it was my early years of understanding money and wealth creation, I said, that's an excellent question.
- [13:20]
B
Yeah.
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A
Why isn't he paying? You have so much money. Why are you keeping or hoarding the money? Why don't you pay people more? His response changed my entire life. He said, I do not set the salary or the income of any of my workers. They set their own salary by the quality and the quantity of the work that they do. Quality and quantity. He said, there are people here who just want to come in, do the bare minimum, and leave. And when they leave, they don't have to think about the operations in my business. And there are others who want to think about it 24 7. Aren't there people within my company who are earning millions of dollars because maybe they went out of their way to broker deals that will bring him money even without him knowing. They took what's called the extra step, right, to go and find a way to provide value. The quality of the work and then what? Quantity. So let's say they went and brokered that deal. Should it have to stop at just that one? No. They can do it multiple times. It's quite fascinating you say that because I tell my executive assistant, tell her, you set your own salary. Just come to me and just let me understand how or what ways you can help provide value to this business. And your salary is unlimited.
- [15:09]
B
So in your view.
- [15:10]
A
Yes.
- [15:12]
B
Why are people not educating themselves about money?
- [15:18]
A
Derek, it's. It's a very complicated question that you're asking. Why are people not educating themselves about money? Parents who pay for their children to go to school. Because in their mind, if my child gets a good education, they are going to get a good job. So then there's value placed in. Okay, if this child goes to school, they'll get a good job. So the focus is on the outcome. I want money. So we are taught and trained. I believe this can go all the way back to maybe the Henry Ford days where they were working with the assembly line of cars. And there's just an acceptance of that being the way to go. And I understand not everyone can be an entrepreneur. And in actuality, it's quite a lot of work to become an entrepreneur. So then going back to what we spoke about, most people just want to go in work, get their money, and that's it. You don't want to sit down to truly understand it. Also, there's this mentality of oh, as for money, everyone kind of understands it.
- [16:45]
B
That's not true.
- [16:46]
A
It's definitely not true. Yeah, I mean, think about it. People go into marriage. I know this is not financial, but let's people go into marriage and repeat that. People go into marriage. People have friendships. But Derek, how many people, maybe before they were going to get married, sat down and said, let me understand marriage? That statement might be surprising to most people. Let me sit down and read and understand marriage before I get into it. Because you don't get a Marriage 101 guide. Your perception of marriage is based on what you saw in your home. That doesn't necessarily mean it's the best route or even the best route for you. So that's something that I personally even did, just understanding. So I always take the initiative to understand things.
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B
But where do we get the information from?
- [17:51]
A
Very good question. There's an abundance of information around. I think one of the most important things is knowing that the source from which that information is coming from is credible. And I think ways in which individuals can kind of glean if a source is legitimate is. Has. Is this person consistent with this? Okay, okay. Do they have the credentials or the credibility to do that? Who have they helped? Not just talk, but actual. They say word in their Bible. It says by their fruits you will know them. Who have they impacted? Not screenshots that they shared with you, but actual true stories. And by looking at that individual's life, do you feel in your heart that they can help you? So.
- [18:51]
B
Look, take me through a process that a person goes through, his understanding of money, the way he or she approaches money, mindset, you know, take me through that process. Because what I want to understand really is what is the aspect of a person that needs to change when it comes to building wealth?
- [19:14]
A
Yes. The first is the mind. The mind needs to change first and foremost. I can't speak for most people, but for me personally, even when I arrived in. Well, even before leaving Ghana for the US I knew in my heart I'd be wealthy. I never forget. We were boarding the plane for the very first time. And as we walked by the business class, first class and we're going back, I stopped there. My parents are. Why have you stopped? Keep going. I was like, no, this is the place that we should be sitting. And that was the first time with me on an airplane because this was comfortable. Most individuals don't have that mindset. What is the mindset? I deserve to be wealthy. I deserve to be wealthy. You have the mindset of I deserve to be wealthy. The next is, what are you going to do to make sure that you are able to build wealth? You see, it's two things. Most individuals don't even believe that they deserve to be wealthy. Now let me flip it. Let's say you do not believe that. Are you doing good for this world by having that mentality? How many people can you help without financial resources? Most people are going around saying, I want to help Ghana. I want to help Ghana with this. I want to help Ghana with that. In my mind, I was like, okay, this is how I'm going to help Ghana. As a Ghanaian, even though I'm American, this is how I'm going to help Ghana. I am going to educate Ghanaians all over the world so that they're able to build wealth by tapping into the financial systems that the rich and wealthy are tapping into, which we are not.
- [21:23]
B
If we take this back, what has been the means through which people have built wealth over time? Before we talk about what you're good at, what has been those means that people have used to build wealth?
- [21:33]
A
This, I'll say the historic thing has been land. Who have purchased this plot of land and then it just slowly appreciates over time. Yeah. And most people don't even understand why that appreciation or the increase in the home value is coming. They know that, oh, if I buy land, it's going to go up. Most people don't understand why. The reason land appreciates several reasons. One, as countries print more money, you're going to have more money in circulation that can then buy those same pieces of land. Because I know that in Accra, yes, there's still land available, but in a way, there's a scarcity to it. For example, the lands in East Lagoon, you cannot increase the size of East Lagoon. So as more money is created, it increases the value of every home within that country. That's one of the ways that causes the appreciation of homes. The second is as people earn more in salary, they can afford to pay more for those pieces of property. So that's what causes the appreciation. I'll never forget something my dad told me. You see, my dad sat me down one day and he said, boy, if I had known that land would be so valuable right now, boy, I would have bought so many plots of land. Because at that time, land was about a hundred dollars for one plot in many places here in Accra. Hundred dollars. Today, the average plot of land is about 250,000 USD in Accra. And I think back to that statement and I say to Myself, I never, ever want to say to my son or daughter, if I had bought this asset or that asset, I would have been very, very wealthy. So it's part of what drives me.
- [24:01]
B
Let me stop you here for a minute. So if it's your first time watching Connected Minds or you have been here before but still have not subscribed, do us a favor, because majority of the people that watch our videos have not subscribed. This doesn't help us grow beyond what we expect. So help us by hitting the subscribe button. Thank you. Now let's get back to the conversation. You don't want to make the mistakes that daddy made.
- [24:27]
A
No.
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B
How's your relationship with him?
- [24:29]
A
It's phenomenal. He is in many ways a role model. He grew up in a village and he was one of the top two students in that village. So he got a scholarship to study in Germany and the host family that took him in. The gentleman's name is Hans. So he named me after that gentleman. Yeah. So in many ways he's been a role model. Through my dad, many of his family relatives who were also in the villages are now here in the city. He's been a very, very hardworking, entrepreneurial person. But my mom would tell me, even though he was entrepreneurial, he was afraid to take that leap. He was afraid.
- [25:20]
B
There are a lot of people that have that fear in them. Where does that come from?
- [25:26]
A
Unknown. Like it's the unknown. What if? What if? Yeah, but I'm reminded of the parable of the talents.
- [25:40]
B
Yes.
- [25:41]
A
Where a master was going, and then he gave this person five, he gave this person three, and then he gave the last one, and then he went off and he came back. The Bible says the person who had five, it said immediately they went off, invested it, in other words, put it to work, and earned five more. Let's flip to the one who had one. The person went and hid the talent. Why? He told the master, I was afraid. I was afraid. So, master, I did not lose the one. So here it is. Know what the master said? If you did not know, why didn't you take my money to someone more qualified? In the Bible, the person said, the master said, why didn't you take it to the bankers to invest the money so that at least I could have earned something on top of it. So in other words, if you didn't know, why didn't you seek guidance or counsel?
- [26:58]
B
But people have given their monies to people, they've entrusted people, and they've lost their money.
- [27:02]
A
Exactly. That's why? As part of this conversation, I told you, they have to look at a track record, credibility. What shows that this individual is actually qualified to talk or speak on what they are speaking on?
- [27:23]
B
If you, if you wanted to tell someone who is afraid, yes, investing to. To awaken them, what would it be?
- [27:35]
A
It is that they don't have a choice if they keep their money saved in cash. Yeah, it loses value every single year. How? You see, you ask these questions and in my mind I'm like, how can they not even understand that it loses value? Well, the simple thing that I can say is things get more expensive every year. So maybe, I don't know if here is by a gallon of gas in a car, might be maybe $2. Next year is $2 20. Or maybe locally, who knows, it might be 30 cities. But then the next year is 40. Maybe food, it cost a bit more. Taking, you know, someone you are dating to the movies. One year costs this, the next year costs more. So imagine that money, you've put that, let's say 2000 into a bank account and it's just sitting there. The following year, the prices of things increase. The following year, prices of things increase. That means your money, its purchasing power or its purchasing ability is diminishing over time.
- [29:04]
B
So give me a wealth plan. What is your plan for me to grow my money? Take me through it.
- [29:10]
A
Absolutely. So there are different, as we've spoken about, different ways that individuals can build wealth.
- [29:18]
B
Okay.
- [29:19]
A
If we were to ask our grandfathers and grandmothers, they'll say, oh, gold, it is a scarce asset. Fixed quantity gold. If you were to ask our parents, you see land, land. If you were to ask some of the wealthiest titans in America, they'll tell you the stock market ownership. Most people don't know owning a stock is just them getting a percentage stake in a company so that as that company produces its products and services, you get to share in the upside. Meaning that your money is growing as that company grows over time, as they serve more people, as they serve more customers, as they create more products for the market, your money grows without you having to do anything. So notice I've taken you through Gold Land, stocks and Alderic. I look back and I have always wondered, for the individuals in our community who feel like they are priced out of maybe buying land or buying multiple real estate properties, what opportunity do they have to create generational wealth? And I waited all of my life diligently searching for the answer.
- [30:59]
B
Yeah.
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A
And in 2016, I stumbled upon it. Derek. The answer is Bitcoin.
- [31:11]
B
In your view?
- [31:12]
A
Yes.
- [31:13]
B
Gold land stocks, Bitcoin, which one grow my money faster.
- [31:18]
A
Bitcoin by far.
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B
Over what period are we looking at?
- [31:23]
A
I want people to think about bitcoin in centuries. Ideally I want them to think about it in centuries. But let me just say this. 2017, 1, Bitcoin was 3,000 cities or US$3,000 today. 3,000 cities in 2017. Today Bitcoin is roughly about US$90,000. And approximately. So the actual number is 960,000 cities but approximately 1 million cities. So someone could have taken 3,000 cities, invested it in Bitcoin in 2017 and they will have 1 million Ghana cities today. In the same way, someone in the US could have invested $3,000 and they'll have close to US$100,000.
- [32:43]
B
For those that don't understand what Bitcoin is, what is it?
- [32:48]
A
Bitcoin is the first digital asset, or if I should expand on it, it is the first digital scarce asset. This is the first time that we have a property that is something you can't see and that's something that many people have a problem with. Ah, my close friend Anwar. So hans me, I don't Bitcoin, I can't even see it, I can't touch it. I like to feel my money. I want to walk to a property, touch it and know that it is there. I say to him, do you think the world is becoming more physical in nature or more digital? And if you say digital, with the advent of AI and all of these incredible technologies, if you think the world is becoming more digital, then my simple answer for you is do you own any digital wealth? Because if the world becomes solely more digital, it's the holders of digital assets. They are going to be the pioneers, the Andrew Carnegie's, the John D. Rockefellers over the next 10, 20, 30 years.
- [34:14]
B
Why are you so sure?
- [34:18]
A
I have studied this asset class on average three to five hours every single day since 2016. In fact, 2016 I discovered this asset skyrocketed up and then fell about 60, 70%. And I said, who? This thing is a scam. I knew it was a scam, so I ignored it for About a year, 2017, I was going about my day and this article popped across my screen and it said that the individuals who had invested in PayPal, Peter Thiel and you know, his buddies, they were coming together, creating some kind of consortium to invest in bitcoin and other digital assets. And I said, why are they investing in this scam? So it's one of two things it's either me, Hans, I don't know what I'm talking about, so I'm wrong, or they, the billionaires are wrong. So who could be wrong? Obviously, if you judge by our net worths, clearly was me. So what did I have to do? I had to be humble enough to go and educate myself in the bitcoin space. It's called going down the rabbit hole. So I went to steady bitcoin digital assets every single day, three to five hours a day at 2x speed to understand it. And I still do that up until today. Well, as you know, here for family.
- [36:01]
B
I was watching a video of this young man who was interviewing an Asian man. And the question was what business he did. And he says he invests in digital assets. Now, what was interesting was that the guy asked the question and said, can you tell me, you know, one of the most craziest things you've done in your business? And he says, I paid 4.5 million to have lunch with Warren Buffett. Yeah, Just lunch with Warren Buffett?
- [36:29]
A
Yes.
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B
I said, cool. I wanted to hear more.
- [36:31]
A
Then.
- [36:33]
B
The guy goes, when he met Warren Buffett, it was worth the money. But Warren Buffett said he shouldn't invest in bitcoin. And that's why he invested in bitcoin.
- [36:42]
A
Yes.
- [36:43]
B
And his wealth has grown. He's a billionaire.
- [36:46]
A
Significantly. Warren Buffett is part of the old school. You know, I'll never forget a statement that I heard says, back in the day when antibiotics was created, the older people, they said, oh, this thing won't take it. It's not, it's not healthy. It won't work. We will not take this antibiotic. So do you know what had to happen? The individuals who didn't take it, obviously, they unfortunately will pass away quicker. And then the younger generation who were more open to embracing the new technology, began to take antibiotics. And now it's standard. It's a subtle way of me saying that Warren Buffett did not grow up in a digital economy. Most of his investments have been outside of technology. But do you know the funny and interesting thing? The number one investment that created the most wealth for Warren Buffett was Apple stock. So it's quite fascinating that for a gentleman who was not so into tech, tech was what created a significant amount of his wealth.
- [38:00]
B
Right. So what are you telling an older auntie who has got some money at a bank and they don't understand what you're saying?
- [38:07]
A
Yes.
- [38:08]
B
How would you tell them to invest their money in digital assets?
- [38:13]
A
I'll tell them that they have to understand what Bitcoin is.
- [38:16]
B
Where do they start from.
- [38:21]
A
Part of this interview, let's say that, and then I'll expand beyond that. So you had asked Hans, what is bitcoin? And I told you, it's the first digital assets. Let me go a bit deeper. So around 2008, 2009, the real estate market was crashing in America. Why? The financial industry, at some point from 2002, 2003, they felt like a house is the safest investment. So because of that, we can build financial products on top of homes. Started calling them credit default swaps and all of these financial instruments. And around 2007, interest rates started to increase. And by the way, leading up to that time, because there was this boom in real estate, the mentality became, oh, everyone should be a homeowner. So whether you qualified, whether you had the income, whether you had the ability to afford a home, they felt like, let's just allow people to buy homes. Yeah. So that became the norm. And at a certain point, when interest rates started to increase, people could not afford their mortgages because the majority of the loans that were sold to people were adjustable rate mortgages, which means that the interest rates on those loans adjust every, let's call it two to three years. So they couldn't afford it. So people stopped paying their mortgages. And then the housing market crashed. And when the housing market crashed, even though the wealthy bankers took all of that excessive risk, America and other European banks could not afford to let the system crumble. So they had to step in and use taxpayer money to bail out the banks and the financial institutions. And no one was held accountable for that. Right around that time, an anonymous person, I called that person an angel, went on to a group chat and said, hey, I've been working on an alternative financial system that cannot be manipulated. And it does not go through the standard financial system that we are used to, the banks. No, this financial system is peer to peer. If I need to transact with you, Derek, we don't need any additional person we make. We broker a deal. How much do you need? Okay, I send it to you in bitcoin. But the bitcoin, even though it's bitcoin that you are receiving, it's going to be priced in whatever the local currency is anywhere in the world. But it's truly Bitcoin that is moving back and forth. And there's another element. This Bitcoin, there will only be 21 million units of it ever created. And no one can, can change that. 21 million meaning as more people choose or opt to hold bitcoin. Yeah. No different from land. If more people want to own a certain piece of land, the value increases. So once I understood that, I just felt like, wow, more people need to know this. So you are saying something about an old aunt wanting to know. I want them to think about it. If they are Ghanaian, they should think about it like momo mobile money. But the money that is kept in the mumu can appreciate or increase over time. If your aunt maybe lives in the US or Europe, I want them to think about it as, let's say, the money that they keep in what's called a high yield savings account. So these are accounts that typically pay maybe 4% or 5% interest. But this time around, bitcoin has the potential to be growing at 30%, 50% year over year. But it doesn't mean that it stays at that exact rate forever. Those who get exposure earlier reap the benefits of higher gains. Because eventually, let's call it in about 20 years, Bitcoin might be growing at 21% or 20% in perpetuity. But now sometimes you can have 50% growth, 30% growth.
- [43:33]
B
Are we too late to invest in bitcoin?
- [43:37]
A
We are not late. I believe that we will see Bitcoin hit $1,000,000 in the next 10 years, $1,000,000,000 in the next ten years. And I believe in the next, let's call it 20 to 25 years, we could see Bitcoin hit $10 million. For the listeners who maybe might be across the world listening to this and trying to, okay, how do I price this in my local currency? They should think about it this way. Every amount of money that they are able to invest into this new asset now over the next 10 years could potentially 10x that money. You can multiply it by 10. And if they were to wait 20 to 25 years, you could multiply that initial amount by 100. And Derek, let me add this. If there was a valuable piece of land.
- [44:46]
B
Yes.
- [44:47]
A
Here. And let's say someone who lives outside of the city wanted it. Yeah. But let's say they have 200 cities and they work so hard to earn that money, do you think that individual can show up on that plot of land, let's call it maybe airport hills or Trasako or something like that, and say, hey, I have 200 cities or I have $20, can I please get exposure to this prime property? The answer is no. So when I say bitcoin was created by an angel, I truly believe it. Because no matter how much money you have. Ten cities. Hundred dollars. Fifty euros. Ten pounds. One million pounds. A hundred million pounds. One billion dollars. Any and everyone can buy their portion of Bitcoin and it will grow exactly the same. So the person who put 200 cities in, if bitcoin does get to a million dollars, as I'm anticipating that 200 cities could be what, 2000 cities. The person who put. Let's call it 10,000 US dollars. Could be a hundred thousand USD. On and on. The person who put one million.
- [46:20]
B
Yep.
- [46:21]
A
10 million.
- [46:24]
B
Let me stop you here for a minute. So if it's your first time watching Connected Minds or you have been here before but still have not subscribed, do us a favor, because majority of the people that watch our videos have not subscribed. This doesn't help us grow beyond what we expect. So help us by hitting the subscribe button. Thank you. Now, let's get back to the conversation. There are a lot of digital assets.
- [46:53]
A
Yes.
- [46:53]
B
Why are you so focused on Bitcoin?
- [46:57]
A
Bitcoin is the only digital asset where we cannot pinpoint the person, the human person who created it.
- [47:15]
B
Okay.
- [47:17]
A
That makes it incredibly unique. Every other digital asset outside of Bitcoin, there's a human that you can say, oh, this person did it. Ethereum, Vitalik, Buterin Ripple, which is xrp. Yep. This company did it. Solana, those two guys, they did it. And they are working on it currently.
- [47:44]
B
So if I wanted you to give me top five digital assets to put in my portfolio, what would it be?
- [47:53]
A
I would bring that number down to three. Okay, three. And I would say, in my opinion, 70 to 90% of it should be in Bitcoin. Okay, then let's say we're going with. Should I go with the 70 or the 90? Okay, let's say. So 70 Bitcoin. Yep. I would say 20% Ethereum. And I'll explain why. Yeah, the 10%. I'll probably go with Solana. All right.
- [48:36]
B
Why Ethereum? Why Solana?
- [48:39]
A
The US passed in July 2025, the genius act.
- [48:48]
B
Okay.
- [48:51]
A
That act allowed the US dollar to be tokenized, meaning for the first time, US dollars can be moved on the blockchain or the crypto ecosystem. So the dollar became tokenized. So most people listening to this might not know that now the US Dollar can move in any country, anywhere in the world. Meaning the US Further entrenched its superpower by leveraging the blockchain. Ethereum accounts for about 90 to 80% of what's called these stable coins. Stable coins are the US Dollar, let's call them crypto tokens. And it's called stable coins because obviously if you have a dollar, it stays at $1. It doesn't increase or decrease. Decrease. Like the way bitcoin is volatile. If you have, let's say $10 and you have the $10 as a USD token, it stays at $10. Right. So it's that. So the term for it is stablecoin. So ethereum powers about 80 to 90% of of these stablecoin transactions. Solana carries a bunch of the remaining exposure to these stable coins. And also there's this understanding that Solana can be used to also tokenize stocks. So those two blockchains, I believe, complement bitcoin. You see, when bitcoin was created, it was created solely to be a digital property like gold. I can say land also kind of like stocks, but it doesn't do any fancy thing. It's just there, there's 21 million bitcoin. As more people want it, the value increase. When people don't want it and people sell it, the value decreases. And no one controls that pure supply demand.
- [51:16]
B
So watch this. Ghana recently passed a bill.
- [51:20]
A
Yes.
- [51:20]
B
So is the virtual assets services providers bill.
- [51:24]
A
Yes.
- [51:24]
B
Was actually signed by the current president.
- [51:27]
A
Yes.
- [51:29]
B
What does that mean to us in Ghana?
- [51:33]
A
It is significant.
- [51:36]
B
Okay.
- [51:37]
A
Because Ghana has a crypto bill before the U.S. the U.S. is close to finalizing a crypto bill. I believe sometime this year will be done hopefully over the next month or two. But if not before the end of this year. But Ghana is ahead. This is phenomenal. So when you ask what does this mean for Ghana? For me, I'm thinking about it. It just means that more demand for the asset. Do you think 21 million. Now there's more people.
- [52:21]
B
If I invest in BTC today or any other digital, how long should I give myself before. You know, look, for most people when they think of investment, their mind also tells them that quick cash.
- [52:37]
A
Yes. Right. Yes.
- [52:39]
B
I think there's two types of people in this game.
- [52:42]
A
Yes.
- [52:42]
B
The people that are looking for quick turnaround and the people that are in for the long term. Who are we speaking about?
- [52:48]
A
We're speaking to the individuals who are thinking long term. Okay. You know, nothing good in life is rushed. Everything that is worthwhile, everything like you plant a seed. Yeah. You water takes its time to grow. You started in first grade, you went to second, third, fourth. Just because you want to work doesn't mean you can bypass that time to say, oh, I want to go straight to university now first grade Second grade. So class one, class two, class three, onwards, marriage. You get married, you start off putting things together step by step. But when it comes to money, individuals think there's a loophole where they can just go around, get a lot of money and that's it. Jim Rohn said, I pity the person who gets a million dollars before they are a millionaire. And I completely understand, completely understand. What would you do with it? You're handed for the, for your listeners. Imagine they wake up tomorrow, a million dollars in their bank account. What would they go and do with it? Look, pause this. One of my mentors said that.
- [54:19]
B
He says, Derek, this was, this was how many years ago? This was six years ago. We were speaking in his apartment in Villagio and he goes, you know, I tell you something, if you opened your bed or walked into one of your rooms in your house and he saw loads of cash, two things will happen. You either go mad or you finish that money in two.
- [54:48]
A
I get it.
- [54:50]
B
We started talking a bit more about it and I said, general, what do you mean? He says, well, there's a preparation stage and that prepares you to handle. And that's why money management is important. And that's why slow growth is very important. Because you build resilience.
- [55:08]
A
Yes.
- [55:10]
B
Like think about it, the foundation of a house is never built in a day, not even a week.
- [55:15]
A
There you go.
- [55:16]
B
It takes time to allow the building to sit on it beautifully. It taught me a lesson. Sometimes as people, especially when it comes to money and maybe with some men, sex, you rush and then when you finish, you're like, my goodness, I know what has just happened, you know. So, yes, digital assets, fantastic. But we are speaking to the people who want to build wealth.
- [55:50]
A
Yes. Long term wealth. Yeah. Slow, steady. So for those who are listening to this, who are moved, I want them to buy Bitcoin with money that they don't need. Huh? Do you have any money you don't need? Please drop in the comments if you.
- [56:14]
B
Have any money you don't need. Extended to me.
- [56:19]
A
The fact that it's that term, money you don't need is called disposable income. Okay, Disposable income. And to your point, do you have money that you don't need? If the listeners don't have money that they don't need, it means one of two things. It's either they are not earning enough or they are spending too much. They have to sit down. Then look, okay, why don't I have a surplus? Am I overspending? Am I cutting my coat? According to my size. The alternative is are you utilizing your talents? Going back, okay, are you utilizing your talents or are you what, afraid? Or are you timid? Two things. But even if you don't have money that is just laying around, so disposable money, find a way to set aside at least 10% of your take home. 10%. And in my opinion I would commit, let's call it about 80 to 90% of that money into the stock market and about 10 to 20% of of that 10% into Bitcoin. And the other, I like to focus on bitcoin for people who are new. Okay, so that it's simple. Now let's say someone's like doc, where I live there's no stock market. I don't know how to open this, I don't know how to open that. I completely understand. And in that case they can just split it down the middle. Okay, maybe they can just put 50% of their money into bitcoin and if there's no stock market, they can put the other 50 maybe into the local stock market. Or they could just keep it in a credible trusted mutual fund or exchange traded fund or index fund or just put it in a savings account that yields a high return. In fact, research was done, it said that if someone was putting 90% of their money in a bank and just investing 10% of it, they would have outperformed all of the people who are even investing fully into the stock market with just 10% in Bitcoin. The thing that's holding many people back, Derek, is people are afraid. Right? And I came to find out that when Mumu mobile money went live in Ghana in 2009, the banks said, oh, this is just an amusing experiment. It won't amount to much. For the first three years of mobile money in Ghana, only 300,000 people were using it. 2014, bank of Ghana decided to allow vendors to be able to access mobile money. And in essence they had friendly regulation to. It took off now more than 60% the citizens utilizing Momo or mobile money. So for the listeners, the virtual asset service providers bill just passed. It is my belief that the telcos over the next one to three years will begin to allow individuals to be able to purchase crypto and digital assets no different from how they purchase mobile money. I believe that also globally the banks that individuals bank with, whether it's Chase, bank of America, Barclays, they will realize that if they don't offer these digital products, they are going to be disrupted.
- [60:37]
B
Let me just drop this. Sure. So one of the banks I bank with in the UK allows us to do that.
- [60:43]
A
Excellent. Yeah. And as we were speaking, I think.
- [60:46]
B
This guy is saying BTC is going to. I need to buy more. Okay. So I'm just going to have to open the app later, but one of my banks allows me to do that.
- [60:56]
A
Phenomenal.
- [60:56]
B
Yeah.
- [60:57]
A
And for those who are wondering, okay, how can I get it? Here's the process. Within the country that you are located, search Cryptocurrency Exchange and in my opinion, read the reviews and testimonials of the top three or the ones with the highest reviews and testimonials and actually read them, visit the website. So do a thorough investigation yourself. If you can call them, call them and try and discover are you legitimate? And it has to be the top three highly rated within that country. And if they are credible, they should be able to link with either the banking infrastructure in the country or the mobile money platforms within the country. So for example, the US Cash app, which is very popular, you can buy Bitcoin and Bitcoin and even stocks on there. Robinhood.
- [62:00]
B
Right, that's the one I use.
- [62:02]
A
Excellent. In Europe, trading 212, I'm losing a trend of thought. Exactly, exactly. So do the research, do the due diligence. There's a new app that was created by Coinbase. Coinbase is the trusted and most reputable cryptocurrency exchange in the world. They created this app called Debase app, has a blue logo, base app. Excellent. That app now allows anyone anywhere in the world to get access to crypto using Apple Pay or I believe Android Pay and other connecting platforms. I believe they also maybe connect with Yellow Card.
- [62:53]
B
And for the people in Ghana and even Nigeria, I think Kenya as well, they can use IC Markets. I think. Yes, I think it's IC Markets.
- [63:02]
A
Is it IC securities or IC Markets.
- [63:03]
B
Security is one of those. But I mean. Yeah, yeah. And they can even get, you know, other stocks like mtn.
- [63:12]
A
Yes.
- [63:12]
B
You know, Ghana Commercial Bank. I think the last time I had a conversation with someone, as someone this was about a year ago, mtn was about 1.70 or something now it is crazy, you know. So this whole stock conversation, it's.
- [63:36]
A
Is the truth.
- [63:37]
B
I mean, my portfolio has grown. I've got two portfolios for stocks and then I've got a portfolio for crypto. My stock portfolio has grown BY I think 18%, 18%. And then the one I do with my bank, which is, you know, high risk stock investment, that has grown by, I think it's about 19.5%. So there's really good growth.
- [64:03]
A
Absolutely.
- [64:04]
B
I'm seeing.
- [64:05]
A
Yeah.
- [64:07]
B
For me, look, the reason I invest in stocks and crypto is not because I want to take the money tomorrow. I'm doing it because, you know, when the kids get older and I want to give them something, I just give them, gift it to them.
- [64:21]
A
Right.
- [64:22]
B
Give them a part or leave it to them. It's not really about. I'm trying to survive on it because I have other businesses. I do, you know, and I think that's what listeners should really get from this. Like you said, yes, a part of your money can go into real estate. In parts, you go into stocks and pass. You go into your cash cow. In a part, you go into Bitcoin. Like you're saying, yes, right? Then this is how you know that you are building wealth. Because you are, you are almost everywhere.
- [64:49]
A
You are diversified. And I believe our people need to have exposure to digital assets is just so important. And I know they are always. Land has land. Here's the thing, okay? Land is valuable locally, locally, within the borders of the country that you are in. Let's say Ghana, for example, let's take prime property, Airport Hills. What is a plot of land or a real estate property at Airport Hills worth to bank of America or worth in the US Financial system? They can't value it, so they place no worth on it. So it's local. So land is locally powerful. Bitcoin is globally powerful. The price of bitcoin in Ghana, the same as the price of bitcoin in Turkey is the same as the price of bitcoin in Europe, the same in the US Australia. It is the first property that an individual can have and hold. And wherever they move on this earth, so far as there is an Internet connection, WI fi data plan, they have access to their property and wealth.
- [66:24]
B
There are some people who trade digital assets. They actually, they trade it like a day trade or I don't know, like, I don't know whether they're day traders. What do you say to that.
- [66:37]
A
Gentleman by the name of Michael Saylor? He said it would have been fun to trade Apple stock when they launched their iPhone. Apple. The stock back then maybe was, who knows, $5, $10, $20. And then maybe they trade back and forth, back and forth. Some days it's down, some days it's up. And as they are going along the way, they are making money 50% of the time and losing money 50% of the time. Because that's typically what happens with trading. And you have to Time and then who hope and then your heart. So much work versus someone could have bought the Apple stock and then they just keep buying more every month or every year from the time they launched the iPhone till today, that person would have grown their wealth. I don't have the exact Percentage by at least 10x10 times 1000%. Over 1000% since 2008. 9 When the iPhone was launched. So you know, Derek, I'll never forget I was in Bronx, New York, you know, when my family, we immigrated to America, we went from an upper middle class household in Ghana to bottom 10%. I was working at a children's clothing store in New York, Fordham Avenue. I was earning $7 an hour. I was the person who would carry the children's clothes from upstairs. When the ladies would put the, take the wrappers off of the new clothes, put it on the rack and then I'll carry the rack, walk downstairs, put it on there on the floor, go back, carry the next rack. That was my job and I was being paid $7 an hour to do that job. One Friday, I was paid back in the day. They count out the money for you. They opened the register. Oh, Hans, you earned $250 this week. They count it out. They gave it to me. When I walked out, there were a group of boys and just a huge like, you know, cheering. So I went to look what was happening there. We're playing this game, three cups and then there's a ball and they'll be shuffling the cups over the ball. And if you can guess which cup has the ball, your money, you can double it instantly. So I stood there for about 10 to 15 minutes watching every single cup that I thought in my mind, oh, it should be in the left cup to pick it up. It's there. But guess what? Someone else was getting the money. Then they'll be flooring the person. So after 15 minutes I said, nah, it's my turn. So I said, oh, you guys, I want to Play. Took out $100, handed it to them, and I walked up, shuffled the cups and I saw the ball going to the right cup and I pointed to it. When they picked it up, it wasn't there. Poof, 100 gone. But do you know what I said? Oh, that was a mistake. Maybe I wasn't paying close enough attention. So I said, oh, I want to play again. Took the other hundred dollars. Mind you, I was given 250 for a week's worth of work. Took the other hundred, gave it to them. This time they were slow Shuffling is slow. And I saw the ball with my own eye going to the left cup. I said, ah, God, I'm just, if this hundred, I double it. I'll just take my 250 and then go home. I pointed to that left gap. They picked it up and I started crying, started crying. The boy was nowhere to be found. Just turned around and just started walking up to go and catch the bus to go home in tears. I feel God knew that at a certain point in my life I am going to be one of the voices of financial education and because of how much I commit to studying financial markets. So if I'm spending three to five hours on digital assets, the remainder of the time, which maybe is another three or four hours or so, is broader stock market and financial markets. If I'm stabbing this much, I should be one of the greatest traders on the planet because if this happens to Venezuela, I can calculate the rippling impacts of it to anticipate which companies will benefit. If the US is currently working on digital assets framework, I know that these companies will benefit. If this current administration is pro business, pro growth deregulation, oh, these companies will benefit. Even banks will benefit because now the regulation of banks won't be as much. So I can anticipate all of these things. So in essence, I should be one of the greatest short term day traders in the world. But God taught me that lesson. So because of that I do not subscribe to it.
- [72:07]
B
Day trading is a scam.
- [72:09]
A
I wouldn't call it a scam. I'll just say people day trade for a lack of knowledge and it is simply that they are trying to create a baby in one month by trying to get nine women pregnant.
- [72:42]
B
Is there anything we could have spoken about that we haven't?
- [72:47]
A
Derek, I just want to leave your listeners with one thing, which is I want them to understand that this digital asset space is one of the greatest wealth transfers we've ever experienced in our lifetime. You see right now the super rich and wealthy are extremely rich and wealthy. They have most of their money in properties, stocks. So that money is trapped. So if God could devise a way to slowly funnel a portion of that money into something else to distribute the wealth, it would be Bitcoin. And I understand many individuals might say, but I don't, I can't see it, I can't touch it. That's equivalent of people saying, oh, I can write a letter and put it in a mailbox and physically put it there. So why should I email or why should I text? Mm, people don't see Facebook and Instagram, but they use it every day. And it's a multi trillion dollar company. You don't need to see something to benefit from it. People don't even see electricity. They benefit from it every single day. I just want everyone listening to this to get exposure to their asset. But even before they do, they should educate themselves. Educate themselves. And there's a website that has actually a lot of resources about Bitcoin, hope.com because there's an understanding that Bitcoin is hope for humanity.
- [75:06]
B
I love it. I love it. In building wealth, which one of these helps the most? Motivation or discipline?
- [75:22]
A
Discipline.
- [75:25]
B
Okay, okay, Dr. Hans, what's the best advice you've ever received?
- [75:42]
A
Success is what you attract by who you become. Success is what you attract by who you become. So don't seek out for this. Become someone who is worthy of having that thing so that when you have it, you can keep it.
- [76:08]
B
And this should remind you of the story I just told you. Otherwise, when you get it, you can't keep it. A lot of people that make money, especially from coming from a broke home, you know, like a poor family, they end up making mistakes and lose millions of cities, millions of Naira dollars, because that process almost teaches them money management. But you hear people that say, oh, when you lost your first million, when you make your first million, then you lose your first million again. It happens a lot because most people that come from such families, they don't have that deep understanding of money management. And it's almost as if when they make the first money, the excitement, all those things, and then they lose it again. And, you know, because they did it, they can now build it back again. But it takes time. You know, it takes time. So I hope, you know, you've learned something from this episode and it's been beneficial to you. But, you know, we have a last question, right? We can't let him go. And our last question is, can you recommend a book for us?
- [77:19]
A
The Richest man in Babylon.
- [77:24]
B
I mean, it's such an amazing book. I just don't know why it takes that much time to tell us. It's such an amazing book.
- [77:30]
A
It is. And yeah, that book, I mean, Rich Dad, Poor dad, changed my life. But I go back to the Richest man in Babylon because that individual who ended up becoming the richest man in Babylon, he was just regular worker. But because of the discipline he brought to his work on a daily basis, he was trusted or entrusted. As I'm sharing this story, I'm remembering the parable of the talents he was entrusted. And this individual is teaching the rules of money, wealth creation, goal. So I definitely encourage every listener, they shouldn't just think because we work and we are paid money, we understand money. You know, it's fascinating, Derek. Investing is something that you have to learn so that you can become good at it. Or you have to give your money to someone credible to invest it for you. But it, interestingly, is the one of the things where people feel like just because they have money to invest, by virtue of the fact that they have money, they have the knowledge to invest. Educate yourself about it. And don't just stop with money. Business, educate yourself relationships, educate yourself health, educate yourself spirituality. Yes.
- [79:05]
B
Very important. And I love to add one book, who Moved my Cheese?
- [79:09]
A
Oh, I love that.
- [79:10]
B
Check that one out. If you're struggling with change.
- [79:12]
A
I love that. I love that. And can we say the bitcoin standard as well? All right. Awesome.
- [79:21]
B
This has been an amazing conversation.
- [79:22]
A
Likewise.
- [79:23]
B
I. I hardly shake people's hands on this episode on this podcast, but I had to do this because, you know, when I have conversations, my aim is education for me. Be the student for my people. And I've learned a lot and I'm sure they will, too. If you made it to the end, I'd love to know in the comments. And if you didn't, you wouldn't hear this, right? So it wouldn't matter. And if you are looking for ways to listen to Connected Minds on your phone, just go on Apple Podcast or Spotify or any platform you listen to your music on and search Connected Minds podcast and you're going to be hearing my voice every day when you're in your car, going to school, when you get on the audio platforms, you realize that we post every single day, apart from Sundays, because Sundays.
- [80:19]
A
So thank you so much.
- [80:20]
B
My name is Derek and I'll see you another time. I'm out.