“If you don't become a millionaire, it's your fault,” says Bitcoin millionaire

You may have heard or read about Erik Finman, a 19-year-old German boy who started investing in Bitcoin when he was 12. He borrowed a thousand euros from his grandmother and invested everything in cryptocurrency. Today Finman has about $ 1.5 million in Bitcoin and says, "If you don't become a millionaire in the next 10 years, it's your fault."

The area is still relatively small, market capitalization is just over half a trillion dollars.

The young man gave an interview to Business Insider in Germany and says it is still possible to make as much money as he can by investing in this shaky market. “The area is still relatively small, market capitalization is just over half a trillion dollars. But don't get me wrong: this is of course a very high amount, but it is small compared to other assets, ”said Finman.

According to him, this is why many people can still make their fortunes with cryptocurrencies, as the market is still small and has plenty of room to grow. "If they are smart about dealing with cryptocurrencies over the next 10 years, many people will be able to build their fortunes even more easily than before, " said the teenage investor.

Time to buy

He also said that the current moment of devaluation of cryptocurrencies is a good chance to buy them. Today, Bitcoin has a steep drop of more than 6% due to the negative repercussions of a speech by the Indian economy minister and the suspicion of fraud in the Tether, which is used as a “transition currency” between common money and cryptocurrencies.

I have many friends who were practically begging for a devaluation

“I have many friends who were practically begging for a devaluation. They wanted a price correction and a drop because they wanted to buy, but they thought it was too expensive, ”he added.

Despite Finman's success as a cryptocurrency investor, it is interesting to consider that it is not advisable to throw all your money into Bitcoin, Ethereum or the like. What he did when he was only 12 years old was a relatively safe bet. The money was his grandmother's, he had not worked to earn it, and at that time had no financial responsibility. His parents took care of him, and the thousand euros would ultimately make no big difference as they can for someone who needs to take care of his own life. In other words, if you want to get in the way of becoming a millionaire in 10 years, you need to take it easy and wait for the right time to buy.

“If you don't become a millionaire, it's your fault, ” says Bitcoin millionaire via TecMundo