Well said. Bitcoin is an incredible tool for financial freedom, but leverage and overconfidence are what usually destroy fortunes. It's not the asset itself that makes people lose money, but their own lack of discipline and risk management

If we are going to be realistic with ourselves on the matter of getting rich through Bitcoin, we can all agree that it will take a lot of capital through constant accumulation to build a huge stash of it, and holding for like three circles or more before you can get rich through it, because we can't just invest only $1k dollar or below and be expecting to be rich with the figure Bitcoin is presently.
It might obviously make some profit for you, but making you rich is what I seriously doubt because for Bitcoin to do 20x of it current price in the nearest future seems unrealistic at all, and these are the reasons most folks prefer risking their hard earned money on alt coin than Bitcoin because they can easily make you rich if it goes your way, just that they are more of gambling than an actual investment like Bitcoin.

I think you are missing things here as bitcoin has never made anyone poor as you may think. Normally anyone who experiences much lost from their investment are a result of not able to have enough patient for their investment to got the required duration and time before they could sell to fiat. Those who might have claimed to lose money in bitcoin are those who thought that bitcoin is just like a Ponzi scheme where they put specific amount of money and expected to cash out within few minute or few days. If you hold bitcoin for long time such as 4-12 years you would definitely see their profits. However, on those who invested in altcoin that will definitely say that they lose money since that is more volatile than bitcoin itself.

What's often neglected. However is the fact that the same price action may result in totally different implications as a result of the exposure that a specific person may have to the price action. While a small investor with a small amount of BTC may feel that a market correction is not so bad. It can be an entirely different situation for the large investor who invested most of their wealth in Bitcoin. That's why the shift from wealth creation to wealth preservation is important. Yielding to a number of years will take some pressure off for a short time. But it won't eliminate concentration risk. While Bitcoin can be a powerful asset. Position size and risk management are still crucial.

It's true that even though Bitcoin offers good potential in the long run, it still carries the risk that its price can drop at any time due to its volatile market. That's why people who invest their money in Bitcoin need to consider that it's a long-term investment and use money they're already prepared to invest, like from their discretionary income, and they also need to have an emergency fund ready so that if an emergency happens, they don't have to sell their Bitcoin.
So basically, investing in Bitcoin isn't something you do randomly, it requires careful consideration to reach its full potential, or else someone will just throw away their money in the market because they can't afford to hold it and don't have any preparation.