When Erik was only 12, he purchased bitcoins for $1000 that his grandmother gave him. That was in May 2011. By the end of 2013 his digital money grew to be worth $100,000, so Erik made up his mind to leave the high school and start his own business.
The startup he created was named Botangle, an online tutoring service with possibility to talk via video chat. The service was purchased by an investor in 2015 for $100,000 or 300 BTC.
“The investor offered either $100,000 or 300 bitcoin, which had dropped in value at that time to a little more than $200 a coin,” tells Finman’s AMA. “I took the lower cash value bitcoin deal because I believed it was the next big thing and an official buyout would’ve been very difficult for someone under eighteen and it was good tax planning to use Bitcoin.”
After such an impressive start Erik’s parents allowed him to leave high school and not even attend to college in case he made his 1st million by the age of 18. Later he gained more bitcoins after the initial 300 BTC sale and used some of his savings to create his own virtual reality headset for Android.
Eventually he reached his goal and became a millionaire at the age of 18. In 2017 he possessed 403 BTC, which makes up well more than $2 mln with bitcoin price having grown above $5500.
Finman’s story made his quite a popular person after some articles from Mashable. The newly-born millionaire says that all this turmoil about his fortune put him through “rigorous proof verification and fact checking” to check if his story is real.
After CNBC publication Eric told that he kept his bitcoins quite secure and “spread out across multiple wallets and multiple machines”, as all this buzz around his personality made him “paranoid”. Actually, he was really scared of such media attention.
And what do you think about Finman’s story? Do you think it is a question of mere luck or could this boy be so farsighted when he purchased his first bitcoins? Share your thoughts in the comments!