Image: Erik Finman / Instagram
Do your friends and colleagues at work insist that you invest in cryptocurrencies or participate in ICOs that you don't know what they mean? This 19-year-old teenager thinks they're right: You're missing the opportunity to be rich. In fact,"if you don't become a millionaire in the next 10 years, it's your own fault".
Erik Finman is a young German known for amassing a fortune equivalent to 1.5 million dollars after investing in Bitcoin the 1000 euros that his grandmother gave him six years ago. In 2014, Finman made a bet with his parents: if he won a million before he turned 18, he wouldn't go to college. Since then he has appeared in the media for projects such as launching a Taylor Swift album into space or setting up the "best university in the world" in Dubai.
Now Business Insider has interviewed him about the state of Bitcoin. Finman says that "don't panic over ups and downs or bubbles" and, far from launching a call for moderation, he encourages everyone to intelligently invest in cryptocurrencies so as not to miss the opportunity to make millions in the next decade:
Business Insider: Technology has its limits, and cryptocurrencies are now at a completely different point from a few years ago. Do you think it would be just as easy to win that bet today with your parents?
Finman: If they act smartly over the next 10 years, many people will be able to build a fortune around cryptocurrencies, even better than before.
It is still a relatively small area. Market capitalization is just over half a trillion dollars. I don't want to be misunderstood: of course, it's a very high amount, but compared to other asset classes, it's small. I'm saying if you don't become a millionaire in the next 10 years, 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 rush, or a new kind of Silicon Valley: there are many opportunities.
"It's that easy, you just have to invest all your money (provided you have a grandmother to lend it to) in cryptocurrencies", says Matt Novak in Gizmodo. And he adds: "It is frankly dangerous to recommend that people deposit large amounts of cash in Monopoly money".
You don't have to be so hard on Finman either: after all, he played his cards well. But just because he made a good move doesn't mean we can all get rich by buying bitcoins. It's easy to see that there is a promising future for blockchain technology and cryptocurrencies, but that future will come when people stop speculating on them.
Source: es.gizmodo.com