We all know that investing in bitcoins is very volatile and risky. However, sometimes risk like this can do lots of favor. You will be shocked to know that 18-year-old, Erik Finman who is a high school dropout from Idaho, U.S, is a Bitcoin millionaire.
18-Year-Old High School Dropout Becomes A Millionaire By Selling Bitcoin
At the age of 18, we are busy playing video games and watching YouTube videos. As a kid, most of us have dreams of becoming a millionaire when we become the adult, but only a few have the ability to turn their dream into a reality.
You will be shocked to know that 18-year-old, Erik Finman who is a high school dropout from Idaho, U.S, is a Bitcoin millionaire. We all know that investing in bitcoins is very volatile and risky. However, sometimes risk like this can do lots of favor, this is what happened with the youngest Bitcoin millionaire.
Erik Finman made a bet with his parents that they wouldn’t make him go to college if he became a millionaire by the time he was 18. “I can proudly say I made it, and I’m not going to college,” Finman said
Erik Finman right now holds 403 bitcoins each valued at $2,700 a coin making it the total value of $1.09 million. Finman started investing in the popular cryptocurrency when he was just 12 years old after he received a $1,000 gift from his grandmother.
By the end of 2013, his investment of $1,000 grew to $1,00,000. He sold everything and launched an online education company which is named Botangle. The education company publishes videos that “allows students and tutors access to a diverse array of resources that just do not exist in a normal classroom setting”
In January 2015, Erik found a buyer for the company, which offered either $100,000 or the lower offer of 300 bitcoin. He immediately opted for Bitcoin because he thought that bitcoins would become the next big thing in the coming years.
Within one year, bitcoin prices increased more than 300%. Some analysts also claimed that the value of bitcoin may reach $1,00,000 in ten years. Erik said “Personally I think bitcoin is going to be worth a couple hundred thousand to a million dollars a coin”
His risk taking abilities has paid off in a big way because as per the current value, his bitcoin holdings are worth over a million dollars. The another most important thing is the value of Bitcoins is on the rise.
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