$1,000 from grandma turned 12-year-old Erik Finman into the world’s youngest Bitcoin millionaire.
If you’re a first-time investor looking for some inspiration to start your portfolio, this teenager’s tale of bitcoin may be the source you need. One curious investor didn’t waste any time by becoming the world’s youngest bitcoin millionaire during his teen years.
Meet Erik Finman.
At 12 years old, Erik went from a typical barely-teenager to an internet sensation. Now, at 21, Erik sat down with our CEO via video call to talk about what he’s currently up to, how he wants to tell ‘a different kind of story’ and what advice he has for young people and their money today.
How did Erik become the world’s youngest millionaire?
👨Erik started his first investment at the tender age of 12 in 2009 which set him up for life by the age of 18. (Back then, bitcoin was worth 10-12 dollars apiece)
👵 He began with $1,000 investment from his grandma intended for a scholarship fund
🤑Put money into bitcoin and didn’t stop from there
What is Erik doing now?
Erik is putting his well-earned bitcoin investments into other projects that he’s passionate about. His financial freedom allowed him to choose what projects he worked on – something which he is incredibly grateful for.
As a Twitter aficionado, Erik is often seen handing out advice:
Erik says the freedom to do what you want is very important to him, which doesn’t stop at his millionaire status. As a budding Silicon Valley entrepreneur with a string of ventures under his belt he’s striving for higher aspirations that trumps his early bitcoin adoption – one of which includes politics.
Now living in Washington DC, his latest project involves lobbying for the recently-introduced Cryptocurrency Act of 2020 which aims to bring “regulatory clarity to cryptocurrencies” and strives to make it easier for business and institutions to participate in the developing industry. Eriks thinks crypto and politics is the perfect ‘marriage’.
The future story he wants to tell, however, is a world away from all his other achievements. He cares about experiencing an interesting narrative for himself that he can also tell the world. Erik says, “Whatever makes you happy - whatever provides you meaning. Earning money is certainly a step towards financial freedom – but it isn’t the main purpose that we set out to have.”
Young people’s relationship to money
Erik believes that young people today think about money in a very different way and should strive to be ‘seen’.
“It pays to be different, to continue your passion despite the status quo, despite what others may think of you when you’re young.” He continues to say: “Think about crypto and investments when you’re young, this is the time to take risks.”
A bold statement, but risk doesn’t need to come at a high cost. It is our attitude to money overall, that needs to change. “They don’t teach financial literacy in schools, it’s not much,” he says.
“Not many people budget, not many people do the monetary thing and are living paycheck to paycheck. Money is just a bunch of numbers on a computer screen.” Delegating the responsibility for managing money and our attitude towards it to education installs a narrative rarely told. What if we all had a chance to learn about financial literacy at a young age? It’s not too late to start today.
Erik summarises: “Sometimes if you’re smart about it, it’s better to embrace your youth, freedom and take the risks. Don’t be afraid to lose in an attempt to build more.” What advice does he give to young people getting started with investing?
The first piece of advice Erik gives is, “What do you have to lose?” A valid question to ask. “There are so many great things and early technologies to be a part of. Blockchain is at the very beginning and there is still vast potential. Be able to have your assets where you’re in control and have self-sovereignty.”