Idaho Teen Becomes Millionaire to Win Bet With Parents

Eric Finman won't be going to college
By Michael Harthorne,  Newser Staff
Posted Jun 24, 2017 2:17 PM CDT
Idaho Teen Becomes Millionaire to Win Bet With Parents
Erik Finman made a million dollars by his 18th birthday to win a bet with his parents and avoid going to college.   (Twitter)

Lesson: Never underestimate the lengths a teenager will go to in order to prove their parents wrong. The Telegraph reports Idaho teen Erik Finman, after dropping out of high school, made a bet with his parents that if he made $1 million by the time he turned 18, he wouldn't have to go to college. "I won the million dollar bet," Finman triumphantly tweeted Tuesday. Finman's journey to teenage millionaire started with $1,000 his grandma gave him when he was 12. He invested the money in bitcoin—which then cost $12 each—and by 2013, his bitcoins were worth $100,000, CNBC reports. Finman cashed out some of his bitcoins to start online teaching company Botangle, for which an investor gave him another 300 bitcoin. Flash forward to 2017, and Finman's 403 bitcoins have a value of $1.09 million.

Finman left school because he thought it was a waste of time and his teachers were too negative. He says they made his poor academic performance "seem like a bad thing." Since dropping out of high school, Finman has moved to San Francisco and interned at various start-ups. Now, with a million dollars to his name, he says he wouldn't advise a formal education. "It doesn't work for anyone," he says. "I would recommend the internet, which is all free. You can learn a million times more off YouTube and Wikipedia." Despite analysts saying bitcoin is nearing its peak value, Finman isn't cashing out. He says he thinks his bitcoins could one day be worth up to $403 million. (This man's $1,000 investment became $2 million. Then he gave it all away.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.