A high school dropout teenager becomes millionaire by investing $1,000 gift in Bitcoin

Erik finman

ErikFinman ,a high school dropout  currently owns 403 bitcoins, which at the current $2,700 a coin puts his bitcoin value at $1.09 million. He also has smaller investments in other cryptocurrencies, including litecoin and ethereum. He invested a $1,000 gift from his grandmother into the cryptocurrency in May 2011. At the time, bitcoin was unheard of outside of technology communities and worth around $12 per coin.

All about Bitcoin

That first investment quickly grew from $1,000 to $100,000 by the end of 2013. Finman then sold the lot and used the proceeds to move to California’s Silicon Valley and set up a company called Botangle, which allowed students frustrated with the quality of their current education to video teachers to video chat with online.

While some analysts think bitcoin is already overvalued, others have recently claimed it has the potential to top $100,000 per coin. Finman thinks its best days are still ahead “Personally I think bitcoin is going to be worth a couple hundred thousand to a million dollars a coin.”

Erick finman with his family

Three years ago Erik Finman made a bet with his parents. He had just dropped out of high school, finding it a waste of time, and was being taught at home. If he was a millionaire by the time he turned 18, his parents said, they would not force him to go to university.Last week Mr Finman declared victory.“I won the million dollar bet I had with my parents!”And he has no regrets about not going to university.”The way the education system is structured now, I wouldn’t recommend it,” he 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.”

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