Erik Finman bet his parents that if he was a millionaire by age 18 he wouldn’t have to go to college. He won that bet thanks to some savvy investing in bitcoin. Oh yeah, and he actually ended up dropping out of high school at age 15…to start his own company.
Bitcoin, which some analysts think will reach $10,000 in value in 10 years, currently sits around $2,700 a coin. And since Finman owns 403 bitcoins the total current value of them is $1.09 million. Finman has also invested, though not as much, in cryptocurrencies like litecoin and ethereum (which is also going bonkers) as well.
This all begs the question of whether Finman is worried that the bottom could fall out on his bitcoin fortune? Not according to what he told CNBC, “Personally I think bitcoin is going to be worth a couple hundred thousand to a million dollars a coin.”
So how did he do this all at such a young age? It all started when he was 12 and he received a $1,000 gift from his grandmother that he turned into bitcoin, which he then sold for $100,000 less than two years later.
“(High school) was pretty low quality,” he said. “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.”
That’s when he launched an online education company called Botangle and in 2015 he was offered either $100,000 or 300 bitcoin to sell the company. He chose the bitcoin, then valued at just $200 a coin.
As for whether he will ever go to college of his own volition now that he’s 18? It doesn’t look that way.
“I never got my GED, and I don’t see the value in it,” Finman said. “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.”
“The way the education system is structured now, I wouldn’t recommend it,” Finman said. “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.”
Welcome to the 21st century, folks.
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