Crypto Millionaire Plans to Push the Price of Bitcoin Back to $20,000 BTC/USD by 2020
- Erik Finman rose in popularity by becoming a teenage millionaire from his early investment in Bitcoin.
- Finman established CoinBits for more widespread adoption to bring Bitcoin back to $20,000.
This Year is “The New 2017” for Crypto
Erik Finman is known to the public as a teenage millionaire that got involved with Bitcoin relatively early on. He has not lost any faith in Bitcoin along the way at all, and new reports from multiple publications indicate that he has solutions planned that could get Bitcoin back to the $20,000 mark that it neared at the end of 2017.
Last year, as the bear market took over cryptocurrencies, the value of the assets on the market dropped by 90%. However, as this year has progressed, it is clear that Bitcoin is improving. Finman believes that there is a combination of his own plans and other events in the cryptocurrency industry that could essentially revive Bitcoin, calling this year “the new 2017.”
Clearly, there has been a lot of push to adopt cryptocurrency this year, much like 2017, but with a lot more support from major companies and even US presidential hopefuls. As Finman sees it:
“Cryptocurrency is 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.”
There are a few steps that Finman would have Bitcoin follow to reach the price point he has predicted, which would involve a faster transaction speed, less conflict across communities, and lower fees.
Bitcoin Price Might Surge to $20,000 Again
With these changes to promote better performance with the Bitcoin blockchain, Finman believes that more people will adopt it. He commented:
“People who live and breathe Bitcoin, working closely with others who are in the same positions as themselves, can sometimes forget that they need to on-ramp new people who aren’t yet into crypto.”
With this second wave of interest, this year is proving to be a little steadier than before. The rise to $20,000 was mostly based on speculation and FOMO, but this year has a substantially more legitimacy in the rising prices.
CoinBits is Finman’s effort to bring back Bitcoin, and it already has 10 full-time employees and 10,000 users. The platform allows US citizens to purchase Bitcoins, while processing small real-world purchases with a credit card, converting it to Bitcoin.
However, the big goal right now is simply to make Bitcoin into an asset that more of the public uses, with the hope that this adoption creates more understanding from the public.