Erik Finman — The Bitcoin Millionaire Teenager

Eric Feynman, nicknamed “Bitcoin Teenage Millionaire”, made a deal with his parents when he was just 12 years old to let him drop out of school to pursue a non-traditional education, provided he could make money from investing. How?

He had to convert the $1,000 his grandmother gave him into $1 million. Erik decided to invest the entire amount in Bitcoin and several other cryptocurrencies when the price of each coin was only $12. When Bitcoin was worth $1,200 per coin two years later, that option started to pay off.

Erik made a minor investment and built an online education startup named Botangle after selling a small part of his cryptocurrency holdings. Investors soon became interested in the platform, which provides video tutoring services, and they offered the 15-year-old the option of selling the company for either $100,000 or 300 BTC. Guess what? He chose to get paid with BTC. Finman achieved his objective and turned 18 while Bitcoin’s value crossed $2,700 in June 2017.

The estimated value of Erik Finman’s current net worth is $4 million. He introduced Metal Pay in 2019, a website that teaches people how to invest in Bitcoin.

Finman said that the biggest problem with inexperienced investors is their short-term vision. “The biggest mistake they can make is to get out of the market now and sell their Bitcoins just because of a setback,” he explained. Which means you need to be less overreacting when Bitcoin goes down and believe in the long-term project.

He said that if you are careful enough and have a good knowledge of cryptocurrency trading background, you can get huge profits. “The area is still relatively small. The market capitalization is just over half a trillion dollars,” he told CNBC. And he added “I do not want to be misunderstood: This is, of course, a very high amount, but in comparison to other asset classes, it’s small. Therefore, I say if you do not become a millionaire in the next 10 years, then it’s your own fault.”

Like : Comment: Share