Thanks to Bitcoin, This High school Drop-out is Now A Millionaire at 18
Over the past few months cryptocurrencies like Bitcoin (BTC) and ether (ETH) have spiked. This rapid increase in price has made quite a few millionaires over night. The most recent story is that of Erik Finman, the 18 year-old high school drop-out who made his first million through Bitcoin.
Erik Finman made a bet with his parents that if he turned 18 and was a millionaire, they wouldn't force him to go to college. Thanks a $1,000 gift from his grandmother, an early tip from his brother, and a persistence, he's reached that goal.
Finman made his first investment of 1,000$ in Bitcoin in May 2011, when it was trading at $12. He sold his first investments in 2013 at a value of $1,200 a coin. He had turned $1,000 into $100,000.
With the cash he was able to receive with his Bitcoin investment, the teen started Botangle. This app helped struggling students like himself find helpful teachers online. Through video chat and messaging, students were able to learn in an environment better suited to them.
Finman went on to sell this company for 300 BTC, opposed to $100,000 because he believed, "it was the next big thing". Around that time, BTC had dropped in value to just around $200 a coin. The teen now owns 402 BTC along with some Litecoin (LTC) and Ether (ETH). With a current valuation of $2,500 per BTC at the time of writing, Finman's digital valuation is just above 1.07 million.
After so much success in crypto, Finman plans to keep investing and isn't interested in anymore schooling.
"I never got my GED, and I don't see the value in it," Finman said. "The purpose of that would be to get another education level and get a job. I had to learn through running a business. Instead of writing essays for English class, I had to write emails to important people."