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.”
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.
- Main & Featured Image: Erik Finman / Twitter