Erik Finman’s life is like a dream. He is the youngest Bitcoin millionaire in the world. His digital wallet stores more than 400 BTC, which at the rate of $20 thousand per one coin was equal to $8 million.
From a schoolboy to a Bitcoin Millionaire
The story of Erik Finman began in 2011, when he was 12 years old. Young man received from his grandmother $1 thousand for college. However, the guy decided to invest them not in education, but in Bitcoin. He was confident that the digital currency has a great future and therefore he will have it, if he buys BTC. A schoolboy purchased Bitcoin on all the money that his grandmother gave him, with the rate of $12 per one coin.
The first million Erik earned at 15 years. Before that, the future millionaire, argued with his parents that he would not go to college if he earned his first million before the age of 18. When the Bitcoin rate first increased in the summer of 2017, Finman became a millionaire. After that, he went into business.
In 2013, Erik’s capital was valued at more than $100 thousand. This fortune pushed the guy to drop out from high school, in order to start his own business. Moreover, the young man was convinced that the secondary school provides with low-quality education.
“I had these teachers that were all kind of negative. One teacher told me to drop out and work at McDonald’s because that was all I would amount to for the rest of my life. I guess I did the dropout part.” – said Erikin CNBC interview.
The young entrepreneur founded his own online educational platform Botangle, which helped the young people to find suitable teachers for class via video chat sessions.
January 2015 has been a remarkable for the guy. He sold Botangle for 300 BTC, whose rate at that time was $ 200 per coin. The buyer also offered the guy $100 thousand in exchange for the business. However, Erik was convinced that it was much more promising to make a deal with cryptocurrency.
“My parents asked ‘Why don’t you take the more cash? But I thought of it more of an investment.” – Finman explained.
You may ask, what’s the catch? And the catch really is. After all, the guy for $100 thousand could buy 500 BTC instead of 300 BTC. But he chose cryptocurrency, because the official transaction is accompanied by certain difficulties with which, the underage wouldn’t not cope.
Today, December 2018, Erik has about 400 BTC at his disposal, and the Bitcoin rate varies within $4,000 per coin. That is, Erik’s fortune does not exceed $2 million. Despite the fact that experts like Warren Buffett are confident that the cryptocurrency is a bubble that is about to burst, the young man says:
“Personally I think bitcoin is going to be worth a couple hundred thousand to a million dollars a coin”
Some believe that the young millionaire suffers from paranoid syndrome. After an increase of popularity and capital, Erik is obsessed with the security of his assets. For example, he divides his capital into various super secured wallets.
Bitcoin millionaire lifestyle
Erik bought a house in West Hollywood, where he neighbors with young YouTube stars and IT elites. Well, and as usual it happens, the guy had his head turned by his fortune. The first evidence that Finman “went off the rails” was the reusable rental of Lamborghini sports cars.
The insanity did not last long. During this dizzying period, the guy did not insert the diamond teeth, did not fill the wardrobe to the full with clothing. By the way it is half empty. The millionaire dresses very inconspicuously: T-shirts, shorts and jeans.
Erik hated the school so much, that when he bought a car, it was indicative that he chose a number with his average grade of school certificate – 2.1GPA.
All of Erik’s relatives have a higher education, so they really want their children to get a higher education. But, a bet’s a bet,and besides, the guy is not going to college under any circumstances:
“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.” – said Erik.“The way the education system is structured now, I wouldn’t recommend it,It doesn’t work for anyone. I would recommend the internet, which is all free. You can learn a million times more off YouTube and Wikipedia.”
The young millionaire eats at Polo Lounge, In-N-Out Burger and other restaurants, depending on his mood. In his free time from work, the guy travels. He likes to have a rest on distant continents, especially Dubai.
Now Finman is in charge of managing his own and family Bitcoin investments.
The young millionaire’s view of the future of cryptocurrency
The world’s first cryptocurrency by capitalization is not the only digital currency that makes up the capital of the millionaire. Litecoin and Ethereum are also in reserve.
If the young man believes in the future of Bitcoin, the future of Vitalik Buterin’s creation he doubts though. Erik believes that Ethereum’s growth depends on speculation on the crypto market.
Chinese mining giant, Bitmain, has closed its branch Bitmaintech Israel in Ra’anana. It was set up two years ago as a company which specialized in developing blockchain technology, AI technology and controlled one of the mining pools Connect BTC in Israel.
The branch was headed by Gadi Glikberg, who held the title of VP International Sales and Marketing. He and his 23 employees will be laid off. The reason of closing the branch is that Bitcoin trading price fell down by more than 80% since its all-time high, while Ripple’s XRP and Ethereum decreased by more than 90% since the peak of their prices.
Glikberg commented on the situation: “The crypto market has undergone a shake-up in the past few months, which has forced Bitmain to examine its various activities around the globe and to refocus its business in accordance with the current situation.”
The king of stablecoins Tether (USDT) is now the 5th biggest cryptocurrency, according to the rating of CoinMarketCap. Although the coin did follow the overall downward trend, it is clearly doing better than EOS and Ethereum. The rating now looks like this:
Despite the jump in the rating, things are not particularly amazing for Tether. The coin is quickly losing holders, since its alternatives (like Gemini Dollar) have way more customer-friendlier conditions.
The crypto industry is turning upside down. Given the level of volatility, the top-5 newcomers might or might not stay there. We remind you:
Who doesn’t like to relax on the soft couch watching a show after an intense day? The Coin Shark has made a compilation of serials about cryptocurrency, so that your rest will be complemented by benefits.
This serial opens the compilation of crypto serials for a good reason. This is the first picture, that doesn’t merely deals with digital currency, but contain it in the heart of the plot.
Cybertriller about cryptocurrency, hackers, bankers and mobsters, who are combined in order to change the world. In the picture, instead of the well-known Bitcoin and Ethereum, a fictional digital coin called GenCoin is used.
TV series adviser Brian Stoeckert, expert in risk management and anti-money laundering, in the interview with CNBC said:
“People have heard about digital currency, but they really don’t understand how it operates. They just see it on the headlines,this is one way they can follow a story line and get a unique perspective on it”.
2. Mr. Robot
Sam Esmail created not just an American psychological TV show, but the whole iconic picture, which consists of 3 seasons. The serial is highly appreciated by programmers and those, who are interested in innovations.
The main character Elliot Alderson, played by an actor Rami Malek, leads a double life: by day, he is a cyber security engineer, and by night – a genius hacker. But the double life doesn’t end here! Elliot has a split personality.
In the serial a fictional cryptocurrency Ecoin is involved, even the famous Bitcoin is mentioned. In one of the episodes, the president of E-Corp or “evil corporation” Philipp Price (the actor Christopher Michael) and a high-ranking official, whom serial fans compare to Jacob Lew, discuss the future of their cryptocurrency and Bitcoin.
“The problem here is hard cash is fading, rapidly, this is the way of the world right now and Bitcoin is spreading and it Bitcoin takes of the wheel all in a world of hell. It is unregulated,it’s already reached its transaction volume maximum and it is part plate control by Chinese miners”.
3. The Big Bang Theory
Popular comedy series, which wins our hearts with edgy sense of humor and thin sarcasm. Many believe, that the target audience of sitcom are just “techs”, since its main characters Leonard Hofstadter and Sheldon Cooper, who were played by Johnny Galecki and Jim Parsons respectively, are talented physics. Nevertheless, the humour doesn’t revolve around the science and the characters get into quite familiar situations for everyone.
The series creators were inspired by cryptocurrency so much, that in 2017 they have devoted the whole episode to it under the name “The Bitcoin Entanglement”. In the serie, the main characters recalled, that they had mined BTC and saved them on a Flash-drive, which was lost 🙂
4. The Simpsons
There is no person, who’ve never heard of The Simpsons. This yellow people are well-known around the world and head of the family Homer, voiced by Daniel Castellaneta, is often cited in comic public groups. And there is no wonder, because in this situational animated comedy you have everything you need in order to get inspired by positivity and get temporarily disconnect from worries.
The cryptocurrency in the serial is mentioned in an episode in 2013. In the serie Krusty the Clown tells, that he is broke, because “All it takes, is a bad luck with a ponies, worse luck in a Bitcoin market, heavy investment in a high and bookmark company”.
Also in the 7 serie, season 25, Bitcoin was depicted on the billboard near the school:
5. Almost Human
You must admit, that it would be weird if a science fiction TV show, events of which develop in 2048, didn’t concern Bitcoin. The creator, J. H. Wyman, wouldn’t make such mistake. True, Bitcoin in the series, is not what we are used to “not seeing”. Here, the first cryptocurrency of nowadays is presented in the form of a large flash drive.
6. The Blacklist
The cryptocurrency has not fully replaced the fiat and a certain percentage of humanity doesn’t even understand what it is. But, others are already bringing clarity to the public about the digital currency. The writers,of “The Blacklist” decided not to invent a new cryptocurrency, but to use the well-known Ripple.
We want to remind you, that recently Ripple has become the second cryptocurrency by capitalization on the market.
This serial is mandatory to view for those, who are involved in finance and closely linked to the economy.
Billions is a melodramatic picture with a dynamic plot. The action of episodes are develop around two largest players in the US financial world – successful businessmen Bobby Axelrod and the Prosecutor of the Southern New York District – Chuck Rhoades. Chuck knows, that Axe’s fund is maintaining shadow activity, because of that he is constantly looking for and consequently finds compromising evidence. The cast characters – Damian Lewis and Paul Giamatti respectively.