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Coinbase CEO Recalls When You Could Buy 1,309 Bitcoins for $1

J_News by J_News
October 5, 2025
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Coinbase CEO Recalls When You Could Buy 1,309 Bitcoins for $1
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Coinbase CEO Brian Armstrong has recalled that one could buy 1,309 BTC for exactly $1 roughly 16 years ago. 

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“The people crazy enough to think they can change the world are the ones who do,” Armstrong said. 

Bitcoin’s earliest price was purely theoretical since it was calculated by a developer named NewLibertyStandard based on the cost of electricity that was required for mining a single token. 

The formula used by the developer included the average annual electricity consumption of a high-end CPU computer, the average residential electricity cost in the US, as well as the number of coins generated by the computer in a month. 

The valuation was a reference point for the community when Bitcoin still had no market price. In fact, the very first real-world transaction involving the original cryptocurrency took place only the next year. 

Bitcoin to $1 million 

As reported by U.Today, Armstrong is now predicting that the leading cryptocurrency could reach $1 million by the end of the decade. He has cited growing regulatory clarity as one of the key reasons behind his bullishness. 

Earlier today, BTC surpassed the $125,000 price mark for the first time.



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