Meet teen bitcoin millionaire Erik Finman

March 22, 2018

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In 2011, when Erik Finman was 12 years old, he made a bet with his parents, who agreed he could skip college if he made $1 million from $1,000.

Erik Finman/Mic

I had a $1,000 check from my grandmother that was supposed to go to my scholarship fund.

— Erik Finman

Cryptocurrencies are digital forms of money that don’t rely on banks. Bitcoin is one of the first cryptocurrencies to gain global popularity.

Alexander Supertramp/Shutterstock

I asked my brother to help me buy $1,000 worth of bitcoin, which was about $10 to $12 at the time, in 2011.

— Erik Finman

In 2014, after a few years of trading bitcoin using the initial seed money, Finman said he used his earnings to launch a video-tutoring startup, Botangle.

Erik Finman/Mic

I actually get money not just from bitcoin but actually [from] the things that I build.

— Erik Finman

Finman’s mother, Lorna, agreed to let the teen skip college since he has been able to launch a career without it. Now Finman’s working to start his own business

Erik Finman/Mic

I’m actually working on building my own blockchain technology. ... It’s going to change the industry in a lot of ways.

— Erik Finman