In an exclusive interview with financial news site MarketWatch, teen sensation crypto star Erik Finman said that Bitcoin might be dead in the near future.
Finman earned popularity in early 2011 for his investment in Bitcoin (BTC) when he reportedly bought in a $12 coin at the age of twelve. He was a high schooler at that point in time and got a gift of $1,000 from his grandmother. The amount eventually became $4 million during 2017 which saw the cryptocurrency’s all-time price high. Finman multiplied his fortune by winning a challenge with his parents that if he became a crypto millionaire before the age of 18, he would have a chance to opt out of going to college.
As of today, Finman is actively involved in the cryptocurrency space. He says that he is still very passionate about Bitcoin and admits that it is always hard to part ways with the valuable virtual currency. He believed at that point of time that whenever he sold a little bit of Bitcoin or paid for something in Bitcoin, he multiplied that price by ten because that’s where he thought that Bitcoin’s would go. He believed it would be huge and incredible, so he tried not to take out any. Following a massive bull run around October 2017, Bitcoin hit an all-time high at $20,000. With such significant price growth in a relatively short amount of time, investors looked to get their hands-on Bitcoin to get a lot of money with a sizeable amount.
In his interview with MarketWatch, the teenaged Finman said that Bitcoin might be dead in the near future as it was getting fragmented.
Finman believes that “project-based” coins such as Ethereum (ETH) and private-oriented token Zcash (ZEC) have a better future. According to price indexes, Bitcoin is trading at $3,611 which is up by 10 percent on the day but down by more than 36 percent on the month. Litecoin (LTC) is up over 16 percent on the day to trade at $30 but has gone down over 30 percent in value on its monthly chart.