Teenage Bitcoin millionaire plans to "resurrect" BTC to $20,000

10 Jun, 2019
by Will Heasman
Teenage Bitcoin millionaire plans to resurrect BTC to $20,000

$20,000 seems to be a way off for Bitcoin, it also seems to a highly lauded price in the crypto community, most probably due to the fact that it stands as Bitcoin's current all-time high. For many months during 2018 a resurrection to $20k didn’t just seem improbable, it appeared laughable. Now teen Bitcoin millionaire Erik Finman wants to make it a reality.

Finman made his millions by investing in Bitcoin (BTC) when it was just $0.12 buying around 400 BTC with money gifted to him by his grandmonther. Since that time Finman has become a qausi-star and divisive character within the crypto community thanks to his his provocateur nature. However, now Finman believes that he along with some others can “resurrect” Bitcoin, and push it to heights not seen since December 2017.

Resurrect is a highly apt term for Finman to us, as the early adopter predicted Bitcoin to be “long term dead” back in December last year due to a lack of fundamental developments.

This, it seems has changed, with Finman discussing with Forbes in a recent interview that both development and adoption are on the rise:  

"2019 is the new 2017 for bitcoin and cryptocurrency. Cryptocurrency is hitting its stride and all the things happening in the tech and finance industry right now are boosting bitcoin and crypto. Blockchain is the cutting edge," said Finman.

Despite bullish developments and adoption from the likes of Facebook, Samsung and Starbucks, Finman worries that the issues plugin Bitcoin could still cause its demise, suggesting that transactions fees need to be lowered, and their speed increased, In fighting needs to stop, and adoption needs to be made simpler.

Finman tasks himself with the latter half of issues, aiming to ease adoption via his company, CoinBits, a service which allows US residents to buy Bitcoin and converts real world payments made with a credit card into bitcoin.

"People who live and breath bitcoin, working closely with others who are in the same positions as themselves, can sometimes forget that they need to on-ramp new people who aren't yet into crypto,"

"The friends I went to high school with know the words 'bitcoin,' 'cryptocurrency,' and 'blockchain,' but they don't really understand what they mean. They know bitcoin as a get-rich-quick tool and little more. That needs to change if bitcoin is going to be around much longer."

What do you think? Is Finman right, will bitcoin die if the issues plaguing it aren’t fixed? Will we ever see 20k again? Let us know your thoughts in the comments!

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