Just 16 years ago, you could buy 1,309 Bitcoin for just $1, a testament to Bitcoin's revolutionary impact on currency. Coinbase's CEO, Brian Armstrong, reflects on these early days and predicts Bitcoin's potential to reach $1 million.
Initially, Bitcoin had no defined market value. Its original price was purely theoretical, estimated by a developer known under the pseudonym “NewLibertyStandard“. This calculation, based on electricity consumption and energy costs, showed it was possible to get more than 1,300 BTC for 1 dollar. Now a legendary anecdote, it reflected the near-zero value of the cryptocurrency in its early days.
It wasn’t until the following year that the first real Bitcoin transaction occurred, with the purchase of two pizzas for 10,000 BTC. An event that became famous as “Bitcoin Pizza Day,” on May 22.
Today, Coinbase CEO Brian Armstrong doesn’t hesitate to predict that Bitcoin could reach $1 million by the end of this decade. This ambitious forecast is based on several key factors:
According to Armstrong, these trends could trigger massive adoption of Bitcoin, propelling its price to unprecedented historical levels.
“The people crazy enough to think they can change the world are the ones who do,” states Brian Armstrong, quoting a famous saying. This reminder of when 1 BTC was worth less than a penny isn’t merely nostalgia: it illustrates the scale of opportunities offered by decentralized technologies, which are still in their infancy.
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Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
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