Friday, November 30, 2018

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! 

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