In the cryptocurrency universe, few stories are as remarkable as that of Erik Finman. In 2011, at just 12 years old, Finman made a daring bet with his parents – if he became a millionaire before 18, they would not force him to go to college. Not only did he win that bet, but Finman did so by riding the wave of the largest cryptocurrency, Bitcoin, to teen entrepreneurial success.
When Finman purchased Bitcoin, the price was at just $12 per coin. He also managed to accumulate Ethereum. He is one of the rare individuals blessed with talent and the right amount of luck. This is the story of the teenage bitcoin millionaire.
Finman’s Fascination With Technology
Erik Finman grew up in Post Falls, Idaho. From a young age, he developed a fascination with technology and business. Taught by his engineer grandfather how to build computers, Finman started his own online business reselling used electronics at just 9 years old.
In the summer of 2011, before starting high school, the 12-year-old Finman received a $1,000 gift from his grandmother. Rather than spending it, he invested that money in Bitcoin, then an obscure digital currency selling for $10-$12 per coin. This single decision would change the trajectory of his life.
The Youngest Bitcoin Holder
Bitcoin was created in 2008 by the pseudonymous Satoshi Nakamoto, but it was still effectively unknown to the mainstream in 2011. Yet Finman believed virtual currencies could be the future of money. He started setting aside his proceeds from his electronics resale business to buy more Bitcoin.
As prices fluctuated, Finman doubled down on Bitcoin investments instead of realizing gains. Driven by conviction in the technology, he reinvested his assets when the price dipped. Finman even started an educational blog to teach others about Bitcoin.
By 2013, 15-year-old Finman owned 403 bitcoins valued at around $100,000 – making him one of the most successful teenage Bitcoin investors in the world.
The Life-Changing Bet & The Belief in Blockchain
In early 2013, Finman made a bold bet with his parents: if he became a millionaire before turning 18, his parents would not force him to attend college. His parents agreed, setting the stage for Finman’s rapid ascent in the cryptosphere.
Finman redoubled his efforts to promote Bitcoin, connecting with other enthusiasts. He began developing his first company, an online education platform called Botangle that provided tutorial services from professionals.
As Bitcoin prices surged through 2013-2014, Finman’s assets proliferated. He sold some of his holdings and reinvested the proceeds into other up-and-coming cryptocurrencies like Ethereum and Litecoin. The risky bets paid off handsomely.
The Voyage to Teenage Millionaire
In June 2014, at just 15 years old, Finman officially surpassed $1 million in crypto holdings. He had won the bet against his parents – no college required.
In media interviews, Finman described Bitcoin as the “biggest revolution since the internet” and expressed hope to change the educational system through technologies like Botangle.
Not needing to attend college, Finman enrolled in a unique 2-year unschooling program called the Thiel Fellowship, receiving a $100,000 grant from investor Peter Thiel. The world took notice of the unusual teenager who got rich off digital currency.
Finman’s Exploration of Online Startups
With growing wealth and independence, Finman expanded his portfolio. He invested in startups and cryptocurrencies. As Bitcoin prices kept soaring, so did the valuation of his early holdings.
In late 2017, Finman sold some Bitcoin when the price hit $10,000 per coin, locking in $4 million in profit. He purchased a Lamborghini sportscar to celebrate. “Car of the future for money of the future,” Finman told CNBC then.
As Bitcoin peaked at around $20,000, Finman’s remaining cryptocurrency assets ballooned to over $5 million in total. Not needing to work for income, he focused on managing investments and building new companies.
The 2018 Market Fluctuations & Uncertainty
But 2018 brought a dramatic reversal. Bitcoin and cryptocurrency prices plunged, losing over 80% of value. Like many investors, Finman saw his portfolio decimated.
Some thought the wipeout might ruin the teenage millionaire. But Finman remained an ardent believer in blockchain technology.
After the “cryptocrash,” Finman got back to developing projects like his education site Botangle and the crypto-collectibles game Lolli. He also continued investing in promising startups and cryptocurrencies during the bear market.
By staying disciplined and sticking to his long-term crypto convictions, Finman successfully weathered the storm. He emerged with his fortune intact and priorities refocused.
Revival of Erik Finman as a Succesful Entrepreneur
As Bitcoin boomed again in 2019-2020, Finman’s net worth shot back up. He diversified into real estate, purchasing a $2 million farm in Idaho that includes a resort with RV sites and treehouses.
The now 20-something Finman also collected modern artwork as an asset class. He developed local businesses in his hometown and became involved in philanthropy.
While no longer a teenager, Finman’s core mindset around crypto never wavered even as his net worth fluctuated dramatically. His early embrace of Bitcoin paved the way for his remarkable entrepreneurial success.
Years After the Crypto Fortune
Well over a decade after betting his parents he could become a crypto millionaire, Erik Finman continues to espouse the transformative potential of blockchain technology and has expanded his portfolio considerably.
Today, Finman reportedly owns over 400 bitcoins along with sizable investments in real estate, startups, and artwork. While his net worth is more fluid than the headlines suggest, Finman remains financially independent with complete freedom to pursue his passions.
Final Thoughts: The Upcoming Youngest Millionaires
Now in his early 20s, Finman has become a speaker at crypto conferences and an advisor for companies in the blockchain space. He represents one of the earliest success stories of ordinary teenagers who embraced Bitcoin and recognized its future possibilities early.
Finman proved resoundingly that big risks can reap big rewards for those willing to buck the system. His against-the-odds wager on himself changed his life, and he continues sharing his vision for how blockchain technology can transform education, finance, and beyond. Not many teenagers become millionaires on a maverick bet, but Finman’s intellect and conviction powered his journey to do just that.
The Web3 ecosystem is transforming rapidly, and new projects with nuanced technologies are reaching the crypto market. We will see potent coins similar to Bitcoin budding in forthcoming years that may result in the sprouting of new millionaires. The Web3 environment is filled with young talents and time will show us more Erik Finmans soon. Let’s wait and see.
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