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Erik Finman – Youngest Bitcoin Billionaire?

by Matthew Harris
, Erik Finman – Youngest Bitcoin Billionaire?

At just 20 years old, Erik Finman has not only made a name for himself in the world of cryptocurrency, he has left many investors in utter awe. Purchasing his first Bitcoin at the tender age of 12, Finman started off with a bang when he tweeted this somewhat historic proclamation:

“Cryptocurrency represents the largest transfer of wealth our generation has ever seen. Never before have young people been able to change economic classes so quickly. This is bigger than Bitcoin.”

Just two short years later, in 2013 and at the age of 14, Finman made an astounding $100,000 profit on his first Bitcoin sale. Not one to simply revel in his accomplishment, this young man turned around and used the profits to start Botangle, a video chat tutoring service, which he eventually sold for a whopping 300 Bitcoins (about $3.5 million at today’s prices).

At the age of 15, Time magazine named Erik one of the most influential teens of 2014 and he has made the news for various statements and proclamations over the years. Now, in order to address issues with consumers and merchants not understanding the full potential of cryptocurrency, the young millionaire started the company CoinBits.

“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.”

Finman claims that CoinBits is a better than anything else on the market as far as introducing the public to the world of crypto and recent surveys have revealed that there could soon be a real demand for these types of services. CoinBits takes small fractions of real-world credit card purchases and converts them into Bitcoin while also allowing consumers to purchase Bitcoin outright.

While CoinBits is currently only available to U.S. customers, they already have 10 full-time employees and with Finman at the helm and his golden-boy track record, there’s a really good chance that this company is set for greatness. And of course, Erik stands to gain a lot from the success of CoinBits.

With that nice little stash of Bitcoin, a little over 400 according to the latest info I could find, Finman also stands to profit handsomely from any surge of the market and if he has his way, Bitcoin will hit $20,000 by the end of 2019.

In a recent tweet Finman said, “I am going to Resurrect back to $20,000 by 2020” and included a video where he proclaimed, “2019 is gonna be the new 2017. Absolutely.”

“The bull run is here, baby!”

So, I think it’s safe to assume that he will be adding a bit more Bitcoin to his wallets. In an interview earlier this year with Market Watch, Finman was quoted as saying, “If you’re not a billionaire in the next 10 years, it’s your own fault.”

Just calculating his current known holdings of Bitcoin, Finman’s wealth would jump to just under $10m if the top crypto hits that mark. However, with his launch of the CoinBit app and his uncanny inherent ability to make bank, I think it’s also safe to assume that Finman has a plan to ensure that he hits that billionaire mark himself.

At 20 years old and without a college degree, Erik has not only amassed an admirable fortune of his own, he is also responsible for managing the crypto finances of his family. I think it’s a pretty safe bet that Finman will one day soon, likely before his 25h birthday, reach that ultimate moniker of Billionaire.

Of course that will make him the youngest crypto investor billionaire, but it will also seal his place in history among the ranks of Mark Zuckerberg, who reached that tax-bracket at age 23, and Kylie Jenner, who Forbes named the “youngest self-made billionaire” earlier this year.

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