Coinbase CEO Recalls Giving Away Bitcoin to Early Adopters

Coinbase CEO Brian Armstrong shared an interesting anecdote about the early days of Coinbase and Bitcoin. In 2012, when Bitcoin was worth between $5 to $10, Armstrong gave away one Bitcoin to each of the first 1,000 users who were willing to try the app.

This giveaway had a lasting impact on cryptocurrency adoption, as many of those early users later expressed surprise at the current value of Bitcoin, which has surged to between $60,000 and $100,000. This rapid evolution of the crypto market highlights its growing acceptance.

The story is not just a nostalgic memory but also underscores how early adopters have shaped the adoption narrative. Armstrong noted that the initial skepticism surrounding crypto has shifted as governments, including the U.S., now hold significant Bitcoin reserves.