https://news.bitcoin.com/18-year-old-erik-finman-bitcoin-millionaire/
This week the 18-year old entrepreneur, Erik Finman, recently did an Ask Me Anything (AMA) on a technology subreddit where he details his experiences investing in bitcoin, which led to him becoming a millionaire by age 18.
At age twelve Erik Finman put the $1000 his grandmother gave him in bitcoin, in May of 2011. By the end of 2013 Finman’s wealth in BTC grew to be worth $100,000 and the young high school student left his high school to create his own company. The company Finman created was called Botangle, a peer-to-peer tutoring service that offers video chat. In 2015 the young entrepreneur found a buyer who was interested in purchasing his company for either $100,000 or 300 BTC.
“The investor offered either $100,000 or 300 bitcoin, which had dropped in value at that time to a little more than $200 a coin,” explains Finman’s AMA. “I took the lower cash value bitcoin deal because I believed it was the next big thing and an official buyout would’ve been very difficult for someone under eighteen and it was good tax planning to use Bitcoin.”
By: Jamie Redman