Youngest Bitcoin millionaire started with $1,000 from his grandmother

15 Dec, 2018 | Updated: 15 Dec, 2018
by Joeri Cant
News
Youngest Bitcoin millionaire started with $1,000 from his grandmother

His grandmother gave him a $1,000 gift to spend on school. Instead Erik Finman decided to invest it in Bitcoin back in 2011, when he was only 12 years of age and when one BTC was just $12. Today Finman is one of the world's youngest Bitcoin millionaires.

According to zycrypto.com, Finman invested the $1,000 gift in Bitcoin at age 12 and made hundreds of thousands of dollars, before turning this into millions.

Finman sold $100,000 worth of Bitcoin when the currency was on the up and, at age 15, used the money to start an online educational business called Botangle, which matches students with tutors via video chat.

He was inspired to start the business, he said, because he had a terrible school life.

Erik had told his parent that if he ever managed to earn his first million before he turned 18, he would drop out of school and go into business. He won that bet last year.

He later sold his business for 300 BTC. He preferred the 300 BTC coins to the cash amount of $100,000 offered, saying that he looked at it as an investment.

Finman gained somewhat of a negative reputation, due to many of his Instagram posts boasting about his wealth and success.

 
 
 
 
 
View this post on Instagram
 
 
 
 
 
 
 
 
 

Like if you get the reference.

A post shared by ERIK FINMAN (@erikfinman) on

He responded to the bad-boy image by saying that it is fun being a provocateur.

'It is a fun way to get people to pay attention to my ideas. You see the reaction to it, people go crazy. But that helps draw attention to the actual world-changing projects that I want to do.'

He recently initiated a new company, Finman Technologies, which will involve the opening of a new school that is designed to help out kids who don't perform well in the traditional educational environment.

Read more: Young Bitcoin millionaire Erik Finman discusses future

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Read more about:Bitcoin (BTC)

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