Cryptocurrency has enamored the masses a lot because of the returns they get by the boost in prices. In particular, Bitcoin has held their interest due to many stories that came up where people invested a certain amount and got back ten times more of that! Even Musk used to peddle Bitcoin on Twitter so much that his tweets could often create a surge in values.
Bitcoin has been around since 2009 and ten years after that the market cap was around $180 billion! It is also called the father of cryptocurrency. It is undergoing a lot of issues now because Tesla said that they wouldn’t be accepting Bitcoin for transactions henceforth. This crypto has made many people millionaires!
Back in the day, it was a risky asset to gain as not many people understood it much. However a bunch of people still invested in it, and it worked for them so well. Now, every single bit of info about crypto can be accessed at any time and there are so many apps and software that guide you with crypto using algorithms and price updates. To know more about this, visit this site, it will help you understand various price predictions.
Let us come back to the famous people who have made millions by investing in cryptos. A few notable examples are Barry Silbert who is actually called the King of Crypto, Blythe Masters, who was the former Managing Director at JP Morgan Chase and Co. but now has her own company Digital Assets and Holdings.
Tyler and Cameron Winklevoss too are now millionaires, holding almost 1% of the entire Bitcoin supply. There are many more who benefitted greatly, but the star has to be the youngest of them all: Erik Finman.
Who is Erik Finman?
Imagine this scene: you are a 12-year-old person whose parents are Ph.D. holders from Stanford and you are about to make one of the biggest investments in your life. You do not know if it would work, but you know what you’re trying to do. Fast forward to three years after that: you are now 15, you have sold $100,000 worth of bitcoin, and have dropped out of high school to become the founder of an education start-up.
This was the story of Erik Finman. His story has always amazed people. He bought around $1,000 worth of Bitcoin in 2011 using the scholarship fund his grandma had kept aside for him. The Bitcoin he purchased then was just worth $10 to $12 dollars so he bought a lot. Currently, one BTC is valued at $38,000 approximately after Tesla’s statement, but before that 1 BTC had a value of $60,000.
Finman purchased Bitcoin when it was worth $10 and had about $1,000 of it and sold it for approximately $4.5 million. Imagine buying an asset when it was worth $10 and selling it when it was worth $27,000 almost!
What is he up to now? He’s now a huge crypto enthusiastic hell-bent on competing with Facebook’s venture in cryptocurrency Libra. He is overseeing two new crypto ventures that he launched in 2019 and he self-proclaims that he was the youngest Bitcoin millionaire. This claim was not contested by anyone else either!
When asked how did he become a millionaire so young, he said that he made his first investment at 12 years. He had heard about Bitcoin when he saw a hippie at a protest wearing a Bitcoin shirt.
The hippie said it was what would end corruption and Wall Street. Fascinated, Finman did more research and started to understand crypto. He just juggled between a school which he hated and learning to trade. He said seeing young Redditors who are fourteen and minting money through stocks and trades remind him of himself.
How did this click for him?
Finman hated school as he didn’t find people with similar mindsets and the teachers were mean. One person actually told him to drop out and go work for McDonald’s as he didn’t seem to amount to anything in his life.
Well, now Finman is worth millions. When he told his parents about this incident, he made a bet with them that he would drop out of high school if he made a million dollars by the time he turns 18. He did become a millionaire!
Since he faced all that, he founded Botangle for people like him. It was an option for people who didn’t like school but wanted to get an education. It was an online venture and was quite successful.
Finman has amazing dreams. After he became a millionaire in 2017, he went on travel to a myriad of places and confessed that he always had a sort of millionaire mindset. In fact, right now he’s not satisfied; he aims to become a billionaire next!
Finman is also going to take a break from the likes of Bitcoin because he is tired of being identified as a Bitcoin personality. Change is a constant and he thinks that he should do something different.
He’s now trading with other things and giving more time to Metal and basically scouting for other good cryptocurrencies. He said he has a few ideas not regarding trading and numbers and is just hoping to make a big name in that too!
Well, crypto is fascinating, and looking at stories like this would just uplift you more. Many people have now joined the crypto world and it has been getting really popular. While Bitcoin is crashing a bit, some analysts have said that it would recover again. There are now altcoins with more scope for people to invest in. This has led to even more millionaires like Vitalik Buterin who is now the youngest cryptocurrency millionaire with Ethereum.
This dynamic world of crypto has vast potential, especially in this digitalized age. It seems like an asset that would just be growing in value from here on. The recent Dogecoin surge was crazy enough. With crypto, we know that we would see more surges and there would be more millionaires in the making!