Erik Finman is just eighteen years old but he has already achieved something that huge number of other people will never be able to do. He managed to become a millionaire by the time he was eighteen thanks to his clever and early investments into the market of cryptocurrencies or specifically into Bitcoin. Today, Erik Finman is often speaking about his experiences with doing business with Bitcoin and how he managed to hit that million-dollar mark at such early age.
The digital currency market has been recording a sudden rise in popularity and more importantly in the past month saw several big investors bringing their funds into the cryptocurrencies. Even though it seemed that Bitcoin is not in a good place until the last month, Erik Finman always believed that Bitcoin and other digital currencies would be able to make a comeback which they eventually did.
In a recent interview, Finman said that this is a very good time for buying Bitcoin as it seems that the market of digital currencies will be going up in the upcoming period and because of that, buying Bitcoin might be the best financial decision that a person can do at this moment. Finman is not just speaking about what could be happening and what should others do. He is also doing business with Bitcoin as well.
Currently, he owns 403 bitcoins which are worth around $1.7 million in the standard currency. Unlike many young people of his age, Finman decided not to attend the college or to find a job. Instead, he focused all his efforts on making Bitcoin investments. The past couple of months have seen Ethereum, another digital currency, gaining huge popularity, but that does not worry Finman as he has a strong belief in Bitcoin.
Just five months ago, the worth of one bitcoin was $1,000 but in the last five months that value has grown significantly and it is currently at $4,300 for one bitcoin. Despite that huge rise in the worth, many experts believe that Bitcoin will be having a lot of ups and downs in the future. In Finman’s opinion, the current Bitcoin worth is realistic but he also expects that worth to be much much higher in the future. In his opinion, the worth of Bitcoin could go as high as $10,000.
When he spoke about other cryptocurrencies such as Bitcoin cash or ethereum that is becoming more and more popular in Silicon Valley in the United States. Currently, one ether is worth $300 but Finman is saying that speculators have been increasing the worth of ether and that it could collapse one day. He also stated that he agrees with the characterization of ethereum as the Ponzi-coin that has become a standardized description of ether in the digital currency community.
He is not only feeling reserved towards the potential of ethereum but also about the potential of ICOs or initial coin offerings. With ICOs, companies are launching new digital currencies and they exchange them for Bitcoin or ether in the last couple of weeks. As Finman says, that is a hugely unregulated area and business like that represents a vast risk for every person who wants to invest in that kind of business.
Written by: Vedran Ostojic
Great achievement at this young age
Interesting!!!!!!!!!!!!