So whose making the money from Bitcoin – Coinbase of course!
Wednesday marked the 10th anniversary of Satoshi Nakamoto’s paper on the need for an electronic cash system called bitcoin.
- In 2010, a user on the Bitcoin talk forum paid 10,000 bitcoins for two large pizzas.
- 2013 – Bitcoin hit $100 and $1,000 three months later.
- 2017 – the price of a single coin “bubbled” to nearly $20,000 before starting to fall.
Fortunes have been made and lost .
But like all gold rushes , the real winners are the providores and the traders.
One such providore is Brian Armstrong and Fred Ehrsam’s trading platform Coinbase who has just raised $300 million at an $8b valuation
Coinbase rise has been more impressive than the rise of Bitcoin , which trades on its platform.
- 2012 – $6m raised at $23m
- 8 months later valuation went to $150m
- 2015 -$75m raised at a $490m valuation
- 2017 -valuation went to $1.6b – boom – Unicorn
- 2018 – $8b valuation
Coinbase co-founders and their investors have a lot to thank Satoshi Nakamoto for!