Money has always attracted more money, so it is normal for tycoons and billionaires to exist in the world of cryptomonies, just as it does in the traditional world.
But, these characters have not only been called by the money of the cryptomonies, but also by the many characteristics that Bitcoin possesses, those that make it the disruptive technology of our time.
The early adopters of the technology, as well as the visionaries who took the initiative to buy a small amount of bitcoin in its early days, were the ones who benefited most from these price increases. Let’s look at some cases News Blockchain has reviewed.
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Erik Fineman was probably one of the youngest investors in Bitcoins. In 2011, when he was only 11 years old, he invested in Bitcoins. His grandmother had given him $1,000 and his brother gave him advice on what he could do with that money. The bitcoins were worth USD 12 at that time. When he sold some of his The News Spy in 2013, they were worth $1,200 each.
Just like that, Fineman turned his $1,000 into $100,000. He used the money as leverage to create an online education company in 2014, Botangle, which sought to link students with teachers through video chat. This made him a successful 14-year-old entrepreneur.
His inspiration for the online school came from his unpleasant high school experience. Fineman then moved to Silicon Valley, traveled around the world and made a bet with his parents.
The business was an overnight success, as Finman generated $1 million, after which he officially dropped out of school.
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Later, in 2015, a buyer offered Finman a deal where he could choose between 300 bitcoins and USD 100,000 for Botangle. Finman then chose 300 bitcoins, although Bitcoin was down at around USD 200 at the time.
Despite the volatility, the teenager still came out a winner, as Bitcoin shot up to unprecedented levels.
Changpeng Zhao is a Chinese-Canadian business executive, founder and CEO of Binance, the world’s largest crypto currency exchange.
Zhao was born in Jiangsu Province, China. In the late 1980s, he moved with his family to Vancouver, Canada. His father was a professor in China before he was labeled a „bourgeois intellect“ and exiled from his country. As a teenager, Zhao helped support his family by working in various service industry jobs that included being a McDonald’s employee.
In 2013, while playing poker, Zhao learned about digital assets and gradually immersed himself in the market. Initially, he was hired by Blockchain.info, then collaborated with Roger Ver and Ben Reeves. He later took on the role of Technical Director of OKCoin. In 2017, Zhao finally attracted millions to create Binance.