The rags-to-riches stories about Bitcoin investors are a consistent theme with the rise in the value of Bitcoin over the past six months.
The most recent is Erik Finman, who invested $1,000 in Bitcoin in 2011 when it was valued at $12. His parents had made an agreement with him that if he were a millionaire by 18, he wouldn’t have to attend college. A child of two Stanford Ph.D. holders, Finman was willing to take the bet.
He now holds 403 Bitcoins, which, at their current valuation of $2,700, represent $1.09 mln. He also manages investments for the rest of his family, who have begun looking into Bitcoin as an investment vehicle.
At one point, an investor offered him either 300 Bitcoins or $100,000. At the time, Bitcoin was worth $200. He took the coins over the cash, much to the chagrin of his parents.
Will he return to college? “I never got my GED, and I don’t see the value in it,” Finman said. “The purpose of that would be to get another education level and get a job. I had to learn through running a business. Instead of writing essays for English class, I had to write emails to important people.”