While it’s quite a statement that “it’s your own fault” if you do not become a millionaire in the next decade, 19-year-old Erik Finman seems to know what he’s talking about. The German teen became a bitcoin millionaire after his grandmother gave him $1,245 to invest, which he has since turned into roughly $1.5 million in bitcoin.

In an interview with Business Insider, 19-year-old Erik Finman had some advice for others looking to invest. When asked if he would have been as successful today as he was back when he first invested, the 19-year-old had some choice words:

If you are smart about cryptocurrency over the next 10 years, many people can build their fortunes even better than before.

The area is still relatively small; the market capitalization is just over half a trillion dollars. I do not want to be misunderstood: This is, of course, a very high amount, but in comparison to other asset classes, it’s small. Therefore, I say if you do not become a millionaire in the next 10 years, then it’s your own fault.

New business models and innovations are still emerging in this area, and therefore, there are many investment opportunities. It’s a new kind of gold fever, or a new kind of Silicon Valley — there are really plenty of opportunities.

Erik Finman

He also spoke briefly about the value of cryptocurrencies falling across the board and didn’t seem worried. “The advance of cryptocurrencies is unstoppable," he said. "A single crash does not change that. People will continue to invest in it and become increasingly emotionally connected with digital currencies.”

Whether you agree with what he said or not, Finman has walked the walk and shown he knows how to make money with cryptocurrencies.

In other news, you need these Dior x Harry Potter mashups on your Instagram feed now.

What To Read Next

*If you submitted your e-mail address and placed an order, we may use your e-mail address to inform you regularly about similar products without prior explicit consent. You can object to the use of your e-mail address for this purpose at any time without incurring any costs other than the transmission costs according to the basic tariffs. Each newsletter contains an unsubscribe link. Alternatively, you can object to receiving the newsletter at any time by sending an e-mail to info@highsnobiety.com

Web Accessibility Statement

Titelmedia (Highsnobiety), is committed to facilitating and improving the accessibility and usability of its Website, www.highsnobiety.com. Titelmedia strives to ensure that its Website services and content are accessible to persons with disabilities including users of screen reader technology. To accomplish this, Titelmedia has engaged UsableNet Inc, a leading web accessibility consultant to help test, remediate and maintain our Website in-line with the Web Content Accessibility Guidelines (WCAG), which also bring the Website into conformance with the Americans with Disabilities Act of 1990.

Disclaimer

Please be aware that our efforts to maintain accessibility and usability are ongoing. While we strive to make the Website as accessible as possible some issues can be encountered by different assistive technology as the range of assistive technology is wide and varied.

Contact Us

If, at any time, you have specific questions or concerns about the accessibility of any particular webpage on this Website, please contact us at accessibility@highsnobiety.com, +49 (0)30 235 908 500. If you do encounter an accessibility issue, please be sure to specify the web page and nature of the issue in your email and/or phone call, and we will make all reasonable efforts to make that page or the information contained therein accessible for you.