Coinbase CEO Brian Armstrong Recalls When 1,309 Bitcoins Cost Just $1, Predicts BTC to Hit $1 Million

Coinbase CEO Brian Armstrong has reflected on Bitcoin’s humble beginnings, recalling a time about 16 years ago when you could buy 1,309 BTC for just $1. He shared the memory alongside a motivational quote: “The people crazy enough to think they can change the world are the ones who do.” The story underscores how far the world’s largest cryptocurrency has come — from an obscure concept valued through electricity costs to a trillion-dollar asset now surpassing $125,000 per coin.

In Bitcoin’s earliest days, its price wasn’t determined by market demand but rather by a calculation made by developer NewLibertyStandard. The formula was based on the electricity costs of mining a single Bitcoin using a high-end CPU, average U.S. residential electricity rates, and the number of coins a computer could generate per month. This method gave the first theoretical value to Bitcoin when it had no real-world market price. It wasn’t until the following year that the first actual Bitcoin transaction took place, marking the beginning of the cryptocurrency’s journey from theory to reality.

Armstrong, known for his long-term bullish stance, recently predicted that Bitcoin could soar to $1 million by the end of the decade. He attributes his optimism to increasing regulatory clarity and institutional adoption, both of which he believes will drive mainstream confidence and investment in digital assets. As Bitcoin continues to break price records, Armstrong’s reflection serves as a reminder of how revolutionary ideas often start small — and how visionaries who believe in them can truly change the world.