Coinbase CEO Brian Armstrong Recalls Giving Away 1,000 Bitcoin to Early Users

In a recent podcast appearance, Coinbase co-founder and CEO Brian Armstrong revealed that he distributed one full Bitcoin to approximately 1,000 early users in 2012 to encourage app adoption. At the time, Bitcoin was valued between $5 and $10, making the total cost of the promotion roughly $5,000 to $10,000. Armstrong noted that some recipients later contacted him to share that their gifted Bitcoin had grown significantly in value. The initiative was part of Coinbase's early growth strategy during its time at the Y Combinator accelerator.