A Bloomberg employee pays his son Bitcoin in exchange for tasks beyond his usual limits, but he can’t seem to make up his mind what the best means of payment is.
In an opinion piece today Eddie Yoon said he would pay his seventh grader 0.00055 Bitcoin (BTC), about $ 23.50at the time of writing this article, for the child to help you compare competitive prices on a rental property. Yoon said he gave his son Luke the opportunity to use “cash, candy, or bitcoin” for workand closed the deal with a handshake.
According to the Bloomberg rep, the move was based on giving their children a role in their own financial decisions rather than going insane. He said he helped Luke buy Tesla stock in 2016, as did his daughters, who were involved with Apple and Alphabet.
“We told our children that we would fund any investment we made together up to the age of 25.”Yoon said. “We don’t plan to leave them an inheritance, so we want them to be ready for a future where their own investments give them financial security.”
Yoon added that “It is not yet known on which cryptocurrency platform minors can open accounts.”. There are few laws that prohibit children under the age of 18 from holding or trading cryptocurrencies. However, many exchanges have yet to be verified to ensure that their users are of legal age. Alternatively, adults can give cryptocurrencies to minors using paper wallets or Bitcoin ATMs.
We don’t want our children to necessarily outperform the market. We want our children to be able to think about money independently. We want them to manage their money, not him to manage them. We want them to strike the right balance between ignorance and obsession with money. “
While many children and adults may not always understand the complexities of the market, some crypto enthusiasts have already taken the first steps towards more financial literacy.. Three-year-old Lily Knight, who was born in the uptrend in 2017, meets both criteria by teaching others about cryptocurrencies and blockchain on her YouTube channel.
Dallas Mavericks owner Mark Cuban He said in a tweet on Saturday that he and his 11-year-old son Jake jointly own 3,250 Dogecoin (DOGE), approximately $ 1,556 at press time. The Cuban previously claimed he used the mark for entertainment and financial education.
However, One of the youngest and most famous holders of cryptocurrencies is the son of Elon Musk, CEO of Tesla, X Ã ?? A-Xii, pronounced “ex ash eh twelve” (in English), who recently celebrated his first birthday. Musk said he bought some DOGE for the baby when he was nine months old and called him a “toddler HODLer”.