Cryptocurrency value

Teen Bitcoin Millionaire May See Cryptocurrency Value Reach $ 1 Million

If this teenage entrepreneur, high school dropout, and bitcoin millionaire has any predictive power, then we’ve barely seen the top of the hot cyber currency market.

Meet Erik Finman, who started buying bitcoin at $ 12 a piece in May 2011 when he was just 12 years old, enjoying a tip from his brother Scott and a $ 1,000 gift from his grandmother, he told CNBC. He now owns 403 reported bitcoins, and although cyber currency has seen a bit of a bumpy ride lately, priced at BTCUSD on Thursday,
+ 0.01%
of $ 2,685.53 each, the now 18-year-old Idahoan Reserve is worth $ 1.08 million and is changing.

“Personally, I think bitcoin is going to be worth a few hundred thousand to a million dollars a coin.”


– Erik Finman

Finman cashed his first bitcoin investment in 2013 and launched Botangle, an online training company that provides tools to locate instructors in the subjects they need or want to learn.

Read: All the digital money in the world in one graph

He wasn’t a high school fan and convinced his parents, both doctors, to let him drop out at 15.

His teachers clearly did not see his potential. “A teacher told me to give up and work at McDonald’s because that’s all I would do for the rest of my life. I guess I did the quitting part, ”the young bitcoin millionaire noted. He didn’t really want to go to college either and won a bet with his parents that if he was worth a million bucks at 18 he could skip it. He was, and he did.

To verify: How big is bitcoin, really? This graphic puts everything in perspective

Finman met the discouragement of an Uber executive, who, instead of listening to his Botangle pitch, told him he should rely on college rather than racking up millions. But the teenager ended up successfully selling his company’s technology, for a low price of 300 bitcoins, it seems. He said he accepted this offer rather than an alternative of $ 100,000.

Read: Uber CEO Travis Kalanick resigns after shareholder revolt

Bitcoin prices have climbed over 300% in the space of a year, with most of the rise occurring in May and June. Ethereum, one of its main rivals, has also seen big gains. Bitcoin hit $ 3,000 last week, before a pullback last week that saw it lose billions in market cap.

Read: Nvidia Upgraded As Cyber ​​Currency Miners Go Crazy For Its Chips

More:Bitcoin Needs Government Regulation To Rise Again, Morgan Stanley Says


Source link