Became a Millionaire at the Age of 18 From Bitcoin

Erik Finman | Biography

Founder of Phone Company, Freedom Phone

• By Chetana
• Original : August 16, 2021

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Erik Finman is a crypto-currency and Metak Pay investor who became a millionaire at the age of 18.  

Who is Erick Finman?

Erik Finman began investing in cryptocurrency when he was only 12 years old. He invested $1000 his grandmother left him for college education in bitcoins in 2011.

Afterward, he dropped out of high school in 2014 and moved to San Francisco. Before leaving, he made a bet with his parents, gambling that if he does not become a millionaire by 18 years old, he shall continue his education.

Subsequently, he took a couple of internships and, on the side, began working for an educational start-up, Botangle. Eventually, the start-up successfully created a well-functioning system made for remote studying. Later in 2016, he sold the company in 300 bitcoins.

Later, in 2017, the bitcoin value reached $27,000, and Finman became a millionaire. After that, he took a break, and in 2018, he launched two projects. First, he launched a prototype of the Dr. Octopus suit, which was a wearable four-arm robotic suit. Then, he also launched Project da Vinci, which was a NASA-funded educational project to build a satellite time capsule.

Further in 2019, he initiated another start-up company, CoinBits, a bitcoin investment tool. After that, he invested in another cryptocurrency, Metal Pay.

Later in 2020, he announced that he was working in a cryptocurrency book. Then, in 2021, he launched a phone called Freedom Phone, promising “free speech and privacy.”

In addition to that, in 2019, the Insider reported that Finman owned a total of 446 bitcoins and had valued his net worth at $4.5 million. 

Early Age

Finman was born in 1998 in Post Falls, Idaho. He is the youngest child of his parents, who met each other while working on their doctoral studies (Ph. D.) at Stanford University.

When Finman was 12 years old, he went on a trip to Washington D.C. And while he was at the Jefferson Memorial Tour, his brother took him to the place where silent dancing protesters were being arrested. Finman then saw a random guy wearing a bitcoin shirt in the chaos at the location, and he asked the individual what it meant. Then the person replied by saying that it was something that will end Wall Street.

Afterward, Finman went home and did some research about bitcoins. He was amazed by the possibilities of crypto-currency and decided to invest. He used the college fund money his grandmother left him and bought $1000 worth of bitcoins in 2011.

Growing up, Finman was not interested in conventional education. He was not happy in his high school, then one day, a teacher told him that he would not become anyone worthy in his life and should drop out. After that, he went home told his parents that he didn’t want to continue studying. At last, he eventually made a pact with his parents that he would resume his studies if he didn’t become a millionaire by the age of 18.

Career

In 2014, Finman was only 15 years old when he moved to San Francisco. He began working on a start-up business called Botangle. He had acquired some profit from bitcoin as the value increased, and he started hiring freelance employees from his bedroom. He later admitted that none of the freelancers knew he was only 15 years old.

While working in Botangle, he also briefly worked as a sales and marketing intern in a California-based company, Sprayable Energy, in 2014. Then from 2015 to 2016, he again interned as a global community manager in a London-based company called SmartUp.

By 2016, Finman had already set up the business version of Botangle. It was a system that could connect a student with a remotely working subject teacher, who would then teach the subject via video chat. His idea was to create something that gave the user the ability to learn a language from the native place. He later reflected, “…Rather than learning Spanish from someone in north Idaho, you could learn it from someone from Ecuador.”

The company was fully functioning, and in 2016, he sold Botangle for 300 bitcoins and moved to Silicon Valley.

Bitcoin Millionaire

Then, in 2017, the per-bitcoin value reached $27,000 and made 18-year-old Finman a millionaire. After that, Finman decided to travel the world.

In an interview, he recounted the trip he took after the 2017 hike of crypto-currency and his thoughts on becoming a millionaire. “I traveled the world—went to Dubai, Hong Kong, Beijing, London, Prague, Sydney, Melbourne, Vienna, Stockholm. I’ve always kind of had a millionaire mindset, to sound super cheesy. I always felt like it was meant to be. If anything, it’s like, why am I not a billionaire right now?”

In addition, he bought his first car, Audi R8, after becoming a millionaire. He also captioned his splurge on Instagram, “My GPA back in High School was 2.1. Now it’s going to be my license plate. ‘2.1 GPA’”

Octopus Suit and Project da Vinci

In May of 2018, Finman invested and worked with a team of scientists who successfully created the first real-life Dr. Octopus Suit. It was a prototype for a four-arm wearable robotic exoskeleton that could be used in construction, military gadgets, and also as a medical prosthesis for Veterans in the future with enhanced developments.

Then in December of 2018, after spending over two past years mentoring students from remote regions, he launched the Project da Vinci. It was a NASA-funded educational project to build a flyable satellite time capsule, for which celebrities like Logan Paul and Taylor Swift also contributed. 

CoinBits and Metal Pay

Subsequently, in 2019 he launched a bitcoin investment tool CoinBit. He led the project in securing press publications and also setting up influencers marketing campaigns.

Followed by that, in 2019, he also became one of the investors and Manager of Metal Pay. Metal pay also launched with a version of crypto-currency and offered a crypto wallet for peer-to-peer payments.

Book and Freedom Phone

In addition to his investments, Finman also blogs on his website titled ErikFinman. And in 2020, he announced that he had been working in a crypto-currency book capturing the behind-the-scenes moments of the currency’s development.

Then, in 2021 he announced the launch of a phone called Freedom Phone. It was a new type of smartphone which promised to enable tracking blockers and include an uncensored app store. After the announcement, it was later revealed that a Chinese phone company manufactured the Freedom Phone. 

Since then, the Freedom Phone has got backlash from critics who have deemed the phone as overpriced with stats of a $200 phone and requested the public not to buy one until the phone company gives the specific details on privacy and other concerns. Many critics have also have raised their doubts on the phone’s privacy claims. 

Net Worth

In 2019, Insider recorded Finman owning 446 bitcoins and valued his net worth at $4.5 million.

Personal Life

In 2015, TheTimes magazine’s William Leith reported that Finman introduced Catherine Moolenschot as his girlfriend to him.