Snot-Nosed Kid’s Insane Boast Evokes Scary Memories of Bitcoin Bubble
By CCN: Erik Finman declared bitcoin “dead” less than six months ago. Now he says that anyone who buys and holds cryptocurrencies for the next 10 years has a good chance of becoming fabulously wealthy.
The Confidence of Easy Money
He “doubled down” on the statement to MarketWatch, saying that people who haven’t become billionaires using the buy and hold strategy in a decade have only themselves to blame.
“I believe that you could be a millionaire by investing in blockchain and bitcoin. I will double down on that and say that if you’re not a billionaire in the next 10 years, it’s your own fault.”
Finman invested in bitcoin as a young teenager after learning about it from his brother. He famously made a bet with his parents that if he was not a millionaire by age 18, he would go to college. But if he was, they would drop the issue. He’s reportedly worth more than $3.5 million in bitcoin alone. His Bitcoin Cash and Bitcoin SV holdings have some value as well, but he’s never spoken to the “airdropped” coins.
In a moment of clarity and drama-free exposition, Craig Wright recently wrote about people who believe they will become rich without work. Wright said:
“We are at such a point today. We are at the critical stage, but we have moved from stock tips to crypto assets. Now, we find hot dog vendors, the homeless, and the flim-flam men peddling illegal exchanges and talking about money to be made, wealth that cannot be avoided, and riches without work.”
Other than having made a wise (lucky?) decision when he was very young, the whole story of which is questionable, Finman’s opinion of cryptocurrency is entirely unqualified.
