Some investors, particularly the 12-year-old who became a millionaire, were certainly lucky to get caught up in the Bitcoin boom.
When it comes to managing money, many young people certainly don’t know what to do. However, the same can be said about some adults.
But at age 12, Erik Finman seemed to have his financial future completely planned out.
In 2011, Finman agreed with his parents that he would not pursue higher education because he wanted to make his own fortune outside of the traditional educational process.
The young man decided that he wanted to become a millionaire, and at his young age he came to the conclusion that investing in cryptocurrency was the way to help him fulfill his dream.
After receiving $1,245 from his grandmother that year, Finman invested it in Bitcoin (BTC), which was then trading at about $12, giving him about 103 BTC.
Most kids that age would probably be at a loss as to how he managed to invest that money in a new emerging online currency, but it definitely paid off.
In December 2017, when Finman was just 18 years old, Bitcoin peaked at around $20,000 and his initial investment had grown to a staggering $2.07 million.
Not bad, right?
Reflecting on a decision he made that paid huge dividends, Finman said that, growing up, “people didn’t really understand what I was trying to do.”
In an interview with Business of Business, he said: “I really didn’t like high school. People didn’t understand what I was striving for, what I was looking for or what I was dreaming about.”
It’s a pity that not everyone thought the same way back then. Or is it the other way around?