Jeremy Gardner is not your regular millennial. When he’s not dropping out of college (which he’s done twice) or working only part time (for a $0 salary), he’s busy investing in cryptocurrency, traveling around the world, and managing his self-made fortune.
It all started four years ago, when he logged into Twitter like any other day, and suddenly noticed the movement of something called Bitcoins, an alternative “coin” with different rules or hashing algorithms.
“Watching these strange new financial vehicles violently fluctuate in value was both addictive and impossible to resist trading into,” he told Bitcoin Magazine earlier this year.
And just like that, this 21-year-old at the time caught the Bitcoin Bug—as he calls it. And since then, in just short span of time, Jeremy Gardner has reached the top of the Cryptocurrency Mountain. And he’s willing to tell you how he did it.
JETSS: You have made millions in the recent boom of Cryptocurrency. What would you say to the average person that’s willing to learn and invest in Bitcoin?
Jeremy Gardner: While I would confidently say investing in Bitcoin is one of the best investment opportunities we’ll see in our lifetimes, at the end of the day, it is a complicated technology. The way I first learned about Bitcoin was with online tutorials. There’s books on Bitcoin at this point! It really just depends on how you best process information. But then from there, going to the news websites, which can kind of bring you up to date on the tech, is really helpful.
JETSS: What are the most difficult setbacks from Cryptocurrency in emerging economies in Latin American or markets like the U.S.?
JG: Without having a traditional bank account, you can now storage your money online. The question is how you actually get it. So, still the bests ways to buy bitcoin are using a bank account or a credit card. The tools for buying bitcoin without having those financial institutions available to you are growing. For instance, there’s an app called Abra where you can find people that will come and meet you, they’ll sell you bitcoin, and you can pay for it with cash. It would be the same challenge for a non-emerging market like the U.S. It’s just about making it easy for people to buy.
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JETSS: What are 5 risks and benefits of investing in Bitcoins?
JG: The benefits are clear; it goes up in value. The overall nature of a deflationary digital currency like Bitcoin is that it will go up until it reaches a market capitalization that probably resembles something like gold. It’s also a way for you to control your own money, and not have it been controlled by bankers or governments. That’s the upside. The downside is that Bitcoin is incredible volatile and is a very new technology, we don’t know where it’s going to go. There are risks in investing in such a newable technology that we don’t have enough history.
JETSS: In your opinion, what should be the mainstream value of a digital currency?
JG: There are so many different crypto assets. For me Bitcoin is a digital gold. There’s ether, the native token of Ethereum, and that’s used as the token that allows that entire ecosystem of applications put on top of it to work; there’s another coin called Basecoin that remains paired to the U.S. dollar, which is really useful if you want a cryptocurrency that isn’t constantly fluctuating. There are all source of tokes for all sources of different purposes, but Bitcoin for me is a great store of value in a digital gold.
JETSS: In 2014, you founded the Blockchain Education Network. Tell us more about it.
JG: At the time I was a junior in college and I joined the University of Michigan Bitcoin Club. I learned there were Bitcoin clubs at Stanford and MIT, and I suggested that we create an organization for us to share resources between ourselves and any other future students that would want to create their own Bitcoin clubs. Within three months we had over 100 chapters in 20 plus countries on every continent. It’s a resource for young people that want to collaborate, meet with likeminded students, and have the resources for them to create their own student organization.
JETSS: In a few words, how would you convince a man like Warrant Buffet to invest in Bitcoin?
JG: I deeply respect Warrant Buffet, but at the end of the day, he is stuck in the ways of the past and he’s not the sort of person that needs to invest in Bitcoin. Bitcoin is for millennials, for young people, for the future; it’s not for the 70-year-olds billionaires. I wouldn’t try to convince someone like Warrant Buffet. I think this is social security for the millennial generation. Is not as interesting for older folks.
JETSS: How do you see Cryptocurrency 5 years from now?
JG: I couldn’t tell you 5 months from now! It’s such a fast-moving industry! Five years ago, most blotchings that are popular now, they didn’t exist. Bitcoin was worth 10 dollars. So, five years from now, what I imagine we’ll have is a real legitimation of the industry as the kind of world changing potential blotching technology is realized in commercial deployment among very large companies and most governments around the world.