One thousand dollars may never count as a wealth to many, but with a good sense of investment, it can really turn out to be a great fortune. That’s when Erik Finman invested his $1,000 into Bitcoin six years ago to turn into a millionaire while he is only 18 years old.
After his investment had been multiplied by 100, Finman managed to establish his startup. Later in 2015, he hardly sold up his establishment for 300 BTC that was worth $60,000 by this date. In June 2017, Finman announced that he could make up a sum of 403 BTC, worth $2,710 each as of this date, raising his funds above the million border.
After Jamie Dimon, JP Morgan CEO, had stated that those investing in Bitcoin are stupid, Finman came out with a controversial tweet. The young businessman challenged Dimon into a boxing match to raise a good $100,000 to Puerto Rico victims of latest natural incidents. The 18-year-old entrepreneur felt quite offended being thought of as a fraud especially that it came out of the mouth of a Wall Street type of a man, as described by Finman. Later after this tweet, Finman was interviewed to spread the latest updates of his wealth and sharing what he thinks of the future price of Bitcoins with other entrepreneurs willing to try Bitcoin investment.
When asked about the status of his 403 Bitcoins that were worth above $2,700 each and whether or not he still owned them, Finman confirmed that he had them rill then. He also said that he sold away two Bitcoins the week before the interview and that the remaining 401 are “making him happy”. Finman also claimed possession of other forms of crypto money like altcoins, in Ethereum and Litecoins in particular, and that another part of his savings was invested in some ICO’s.
BC interviewer asked Finman whether he felt any frightened as a Bitcoin investor after new relegations had arisen to which he replied negatively. The young millionaire reportedly said that this is what Bitcoin is about. He recalled the ban carried out by the Chinese government and how Bitcoins surpassed such obstacle. He also mentioned that his brother and he were familiar with Liberty Dollar whose founder got imprisoned after being charged for multiple troubles. He said this incident was one of the reasons why he was interested in Bitcoin and this field of investment. As much as he would say, Bitcoin would keep on existing even if every country got to ban it owing to the “decentralization of technology”. He said he’d prefer not see it regulated however, he believes that Bitcoin was meant to exist in countries where regulation is at its tightest and that should it be banned in the US, it will be no more than an obstacle that Bitcoin would get over.
The following question was about his controversial tweet challenging Jamie Dimon to a boxing match so as to raise funds for Puerto Rican victims to which Erik Finman gave a fierce explanation. Erik Finman went hard on JP Morgan’s CEO recalling a story when he was once in an Uber vehicle to find out the driver was a Bitcoin user who thinks many statements quoted from Jamie Dimon’s mouth are “ironic”. He also talked about an article he had shared a day before that includes a list of criminal suspicions and possible frauds that JP Morgan is publicly accused of which, Finman thought, degrades Dimon’s aggressive speech about Bitcoin investors. He also stated that critics should halt as the market price keeps going up. Young Finman also blamed Dimon for not sticking to his word as he keeps on talking about Bitcoin though he repeatedly stated that he was no longer going to mention Bitcoin in his speeches, as claimed by Finman.
Finman also added that he wondered why Dimon predicts the failure of Bitcoin if he doesn’t know when his statements about Bitcoin would come to an end. As viewed by Finman, being a “good person for once” was the purpose of his tweet inviting Dimon to join him in the ring promising him he is not going to “knock him out in one punch” and that he will donate $100,000 to Puerto Rico conditioning Dimon accepts the invitation. Finman added that there could be more funds arising by selling the match tickets except that he has no faith Dimon will accept it. Wall Street individuals were no more than “scum bags” and Dimon was only a typical scum bag of Wall Street in Finman’s perspective.
The interviewer also asked Finman what he thinks of popular Wall Street types who back Bitcoin despite being mainstream bankers. Finman praised bankers with such mentality and said one should still be cautious as some of these public figures back the technology, not Bitcoin itself. He claimed they just aim to use Blockchain technology but in forms other than Bitcoin. Not to weaken traditional banking system, Finman thinks they might seek middlemen to exploit both systems. The 18-year-old conceived it is only a matter of time before traditional bankers get influenced by Bitcoin, succumb to its existence and take it as a matter of fact, not a temporary market.
When Erik Finman was asked to share his thoughts on the future of Bitcoin with young persons who are looking forward to investing in Bitcoins after its value had risen above $5,500 each, the young millionaire said it is a bit risky unless the investment is meant to be in the long run. He said there is a big chance it might drop $500-1000 in the coming days or months, but he ensured this increase would not be of great significance in the long run. He believes it is all about what factors the investor is looking upon and whether he/she counts a sudden drop in the near future as a deciding factor. In Finman’s point of view, Bitcoins are going up and will continue to go up, the fact why he encourages other young entrepreneurs to ignore all the current ups and downs and invest in such a promising field where he made of himself a true millionaire.
Based on another tweet Erik Finman had lately said money was never meant to be deposited in a bank and that not investing it means it is being wasted, Finman also had a comment on that. In his own perspective, he believes money is nothing more than a tool that one can use to get more money. The smart millionaire advises mainstream employees to keep 10% of their monthly income in a successful investment, the process that he’d rather call “Giving money marching orders”. In addition, although bank accounts with yearly interest are better than money stored on the shelf, putting money into Bitcoin or cryptocurrencies is way smarter and more effective.When asked about where he finds Bitcoin in the following few years, Finman said he was positive it would go above $10,000.