Bitcoin millionaire says this is how much to invest in cryptocurrency.
19-year-old bitcoin millionaire: Here's how much you should invest in cryptocurrencies.
About 40 percent of those between 24 and 35 have at least $1,000 in their savings account. That may not sound like that much, but 19-year-old bitcoin millionaire Erik Finman says that's enough to invest in cryptocurrency.
The teenager has had some luck with the cryptocurrency growing up: At age 12, Finman used a $1,000 gift from his grandmother to buy his first bitcoin and by 18, he became a millionaire. He currently owns 401 bitcoins, which equals $3.4 million at a rate of $8,512 a coin.
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MONEY, MONEY, MONEY - AT LAST IT IS ALL ABOUT THE SHIT MONEY. THAT IS WHY WE ALL ARE HERE. TRUE.
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I’m talking with a client one afternoon on the phone. He’s planning his millionaire retirement at 35 from the tech company he works for.
It’s 1999, in the midst of the tech boom.
It went bust and so did he.
I was a rooky financial adviser watching young people become overnight millionaires investing in dot com businesses.
They came up with a sexy name. Created a flashy website. Launched an IPO. And suddenly were millionaires owning shares in a company that produced no income.
The craziness continued into 2000 until investors like Warren Buffett asked, “I don’t understand the tech business and how you make money. Why would I invest?”
Financial commentators ridiculed, “Buffett doesn’t get it. He’s out of touch.”
Buy the end of 2002 most of those businesses, with their sexy names, no longer existed.
And most of those instant millionaires had left retirement desperately trying to find a programming job to save their house.
Warren Buffett continued as the greatest investor in the world.
I’ve said many times, “In building wealth you have quick, easy, simple and sure. Pick two.”
No magic black box, where all four reside, exists. Except on the sexy website of someone trying to sell you something.
And then, only right up until it doesn’t.
Chances are very big - for example, if you invested $500,000 in Bitcoin in mid-September 2017 at $3300-$3500, then you would become a millionaire within six weeks, as the price more than doubled.
If you buy Bitcoins worth $800k-$900k, then the investment amount can reach $1 million in several days, as Bitcoin can easily demonstrate over 10% growth in a few days. However, it is true that you can cut the same percentage of your portfolio because Bitcoin can also decline in price.
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