WuBlockchain
When Coinbase launched in 2012, co-founder and CEO Brian Armstrong gave one bitcoin to each person willing to try the app, when BTC was worth about $5 to $10. Around 1,000 people received the giveaway, he said in an interview published September 20, 2026.
Some recipients later returned to tell Armstrong their bitcoin was worth $60,000 to $100,000. He also recalled that few people took crypto seriously in the early days, contrasting that with the U.S. government's strategic Bitcoin reserve today, which he said he could hardly have imagined at the time.
Frequently asked questions
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When did Coinbase give bitcoin to early app users?
Brian Armstrong said the giveaway took place when Coinbase launched in 2012.
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How much bitcoin did each recipient get?
Each person willing to try the app received 1 BTC, according to Armstrong.
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How many people received bitcoin in the giveaway?
Around 1,000 people received one bitcoin each.
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What was bitcoin worth when Coinbase launched?
Armstrong said each bitcoin was worth about $5 to $10 at the time.
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What change in government policy did Armstrong recall?
He contrasted early skepticism about crypto with the U.S. government's strategic Bitcoin reserve, which he said he could hardly have imagined.
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