A Bitcoin millionaire is now looking at Bitcoin from another perspective after writing it off in 2018 as he now plans to tap into the market recovery with his own new company.
Erik Finman, Founder of CoinBits, a startup which allows users to buy Bitcoin by converting small fractions of real-world purchases made with a credit card into Bitcoin, is on a roll.
Finman is one of many who was quick to predict the demise of Bitcoin in 2018 after the market lost 90% of its value after its 2017 peak, but happy to pick up where they left off as the bull market gains in strength. So much so, in fact, the entrepreneur and startup CEO sees Bitcoin back to its highs of 2017 by the end of this year.
He sees Bitcoin’s latest fortunes resting on the success of Facebook’s new launch into the cryptocurrency sector along with positive press Bitcoin is getting from presidential hopefuls in the run-up to the US elections. Based on the market’s recent resurgence Finman’s latest venture CoinBits now has 10 full-time employees and 10,000 users. He comments enthusiastically:
“2019 is the new 2017 for bitcoin and cryptocurrency… hitting its stride and all the things happening in the tech and finance industry right now are boosting bitcoin and crypto. Blockchain is the cutting edge.”
However, for this to continue, Finman suggests that certain things need to improve such as lowering Bitcoin’s transaction fees and increasing speeds and halting bickering between users and suppliers. The 20-year-old who bought his first Bitcoin at the age of 12 argues that the whole view of Bitcoin as a money making scheme needs to go:
“The friends I went to high school with know the words ‘Bitcoin,’ ‘cryptocurrency,’ and ‘blockchain,’ but they don’t really understand what they mean. They know Bitcoin as a get-rich-quick tool and little more. That needs to change if Bitcoin is going to be around much longer.”
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