Erik Finman made his first million in Bitcoin thanks to a $1,000 gift from his grandma, at the age of 12. He ended up dropping out of high school, working the cryptocurrency game, and starting his own online tutoring company – which he sold for 300 bitcoins (worth approximately $60,000 at the time).
Erik bought his first bitcoin when it only cost around $10. Just a few years later, it hit around $1,100. Finman sold $100,000 worth of bitcoin when the currency was on the up and, at age 15.
He told marketwatch.com:
“Bitcoin is dead, it’s too fragmented, there’s tons of infighting I just don’t think it will last,” Finman told MarketWatch. “It may have a bull market or two left in it, but long-term, its dead.” That’s a hot take coming from a guy who bought bitcoin in 2011, turning $1,000 into more than $4 million.
Finman continued sharing his “wisdom” on Twitter, saying:
“I’m bullish on Crypto-currency. It’s going to last FOREVER. As much as I like Bcash’s technology, they just can’t seem to pull it together, they’re failures. They’re such a waste. Bitcoin will go through more bull runs, but long term it’s dead.
This is not some Wall Street f*** like paulkrugman saying ‘bItCoIn Is DeAd’ I say this as someone who has been bullish on Bitcoin forever, got FILTHY rich on Bitcoin, and know Bitcoin will go through more bull runs. So you are a loser, if you think i’m just a hater like Dimon.
But it’s ok, be idiots. Misunderstand me, next time Bitcoin goes up in another bull run and I’m making more money. Feel free to pull this article up (that I fully back) that I said Bitcoin is dead. When actually you’re just going to be sharing my accurate prediction.”
Another cryptocurrency Finman said is on its way out is Litecoin — the cryptocurrency created by Charlie Lee.
“Litecoin has been dead for a while,” he said. “It’s like when the sun is going down and there’s that eight minute period just before it goes dark. Litecoin is in its seventh minute.”
And it’s hard to argue, the cryptocurrency is down more than 95% from its peak and it at its lowest level since May 2017.
He then went on to shill ETH and ZEC, which seems to be the actual reason for this article. Finman’s bags of ETH and ZEC got heavy after tumbling down to meager single digits (from the mid four digits in case of Ether) so he used his social media prowess to try and stir the pot, produce some more headlines about alleged bitcoin death.
Too bad he didn’t get the memo that headlines and mainstream media assaults on BTC don’t move the needle anymore – just look at what Bloomberg is doing. Mike Dudas from TheBlock noticed that Bloomberg has run negative headlines on bitcoin for 303 consecutive days but that didn’t prevent the number of users of crypto to double from 18 to 35 million in this year.
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