May 2011, a 12 year old boy, Erik Finman was given an insight into a mind-blowing technology called bitcoin by his elder brother. Finman was so fascinated with the technology that he ended up falling in love with it, he revealed in his Reddit “Ask Me Anything” post.
There was another thing that happened to Finman that same year he discovered bitcoin, his grandmother gave him $1000 for his 12th birthday. He didn’t waste time in loading up bitcoin with that money. He started investing on bitcoin, buying at approximately $12 per bitcoin. He ended up with a collection of 100 bitcoins that year.
He started “day trading” on the bitcoin market, buying and learning more as he bought low and sold high. With profits made, he purchased more bitcoins. At 14, Finman started high school, but didn’t waste time learning because he didn’t love the life in high school. He was used to the country life, having come from a tiny town in Midwest that is free from the hustling and bustling of a city. The fact that he came from a tiny town also meant that he had no choice in choosing where to school.
Classes were boring to Finman and he wanted something better instead of the mathematics and the memorizing of equations and formulas. He quickly discovered that what things taught in classroom were useless in real life because they were not applicable. So he saw school as meaningless.
“One of his teachers advised him to drop out and pick up work at McDonald’s. This was because he was not considered to be brilliant for anything. He added that another teacher forced him to study other intelligent students’ grades and read them out to the rest of the class, to embarrass and shame him for not doing well in class. Another teacher singled him out for a full class hour and this pushed Erik Finman to the wall.”
However, things finally found its course for him the following summer when a teacher picked out Finman’s strength. He found out that he was talented in many other ways and this helped him improved his learning and grades. Life started making more sense to him as a student.
In his leisure moments, Finman discovered a hobby; coding. He started learning how to code online and ended up creating a perfect platform that linked teachers and tutors with their students. His invention found willing users around the world and became famous for those teachers who have retired but still wanted to each.
While he was busy discovering himself in school, the bitcoin’s price was soaring from $12 to $800 and then, it hit $1000. It was at this point that Finman decided to invest more cash on some of his bitcoin. He quickly gained a profit of $100,000.
With the profits, he turned fully to his project and moved to Silicon Valley and ended up meeting famous people like the co-founder of Reddit. By 2015, Finman’s website was so popular that he started receiving buyout offers for it. There was a buyer who offered to buy as much $100,000 cash or 300 bitcoins.
The price of bitcoin started dropping drastically around this time and there was a lull in the market. However, Finman strongly believed in the future of bitcoins that he started accepting bitcoins that were lower than $100,000. The advantage of this was that he postponed his taxes and capital gains. Finman used some of his funds in traveling around the world- to places like Australia, Europe and Middle East.
According to Elon Musk, Finman is one of the people he greatly admires and respects immensely. “He’s the closest we have yet to a real life Iron Man.”
Finman is happy that he avoided getting in student debt of $250,000 and that he invested over 400 bitcoins. He discovered that the educational system was not his thing and that he was not cut out to the hurdles and many troubles like debt that come with education.
As of 9/7/2017, bitcoin was prized heavily at $4648, and this was good news to Finman whose bitcoins worth is $1,859,200.
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Learn more about Bitcoin Millionaire here: http://www.telegraph.co.uk/news/2017/06/24/idaho-teenager-became-millionaire-investing-1000-gift-bitcoin/