Coinbase CEO Gifted CNBC Host $1 Worth of Bitcoin in 2015 — Current Value Revealed

The digital asset marketplace Coinbase Global (NASDAQ:COIN) ranks among the top performers over the past year, propelled by a surge in Bitcoin (CRYPTO: BTC) prices and an upswing in Bitcoin ETF interest.

A demonstration of the Coinbase service for a reporter utilizing a nominal Bitcoin sum has resulted in unexpectedly remarkable gains.

Recent Developments: In 2024, the valuation of Bitcoin skyrocketed, repeatedly establishing record highs and breaching the $70,000 barrier.

Coinbase’s valuation flourished alongside, offering lucrative opportunities to prior Bitcoin investors.

CNBC host Jon Fortt disclosed his Coinbase wallet balance online, indicating how a small-scale Bitcoin investment has multiplied.

“I had coffee with Brian Armstrong at The Creamery in San Francisco on 7/24/15. He wanted to demonstrate the Coinbase app, so transferred $1 of Bitcoin to me. Here’s its worth now,” Fortt revealed via a tweet displaying the increase.

According to the screenshot, the Bitcoin initially worth $1 valued at $254.83 on that Wednesday.

“Memories of that day!” responded Coinbase CEO Brian Armstrong, retweeting Fortt’s message.

Curiosities arose among the Twitter community regarding Fortt’s subsequent Bitcoin investments post-meeting Armstrong.

“I refrained, but decided to hold onto the one dollar to witness the evolution,” Fortt explained to an inquisitive follower.

Another enquired whether the Bitcoin in question was Fortt’s personal property or attributed to his employer NBC’s parent company, Comcast, given it was acquired during his professional duties.

“They can claim it if they desire,” was Fortt’s playful answer.

Fortt also revisited his recollection on a LinkedIn post timed with Coinbase’s IPO in 2021, reflecting on his encounter with Armstrong.

“A suggestion was made to meet with this startup entrepreneur for a coffee chat. Sure, I knew of Bitcoin, but had never taken it seriously at the time,” Fortt expressed. “My first takeaway about Armstrong: He had an air of sincerity and conviction.”

“He was committed to the promise of Bitcoin, convinced of its upward trajectory, telling me he was accepting his entire salary in Bitcoin and abstaining from converting it to cash.”

Fortt remarked on his restriction from owning stocks, though the possibility of holding cryptocurrency was available to him. Yet, he chose not to pursue further investment. In his LinkedIn update, Fortt illustrated the impressive return that his single dollar in Bitcoin had achieved.

“The inference: Never underestimate a determined entrepreneur,” he concluded.

The Future Outlook: Over the previous year, Coinbase stocks soared beyond 250%, and the shares are considered favorable bets for Bitcoin ETF custodianship, responsible for safeguarding most of these funds.

The surge in retail interest towards cryptocurrencies and meme coins could escalate Coinbase transaction volumes in the forthcoming quarter.

For both Fortt and Coinbase, Bitcoin could potentially continue its ascent, with predictions aiming for $100,000 as an upcoming benchmark.

Should Bitcoin hit $100,000, Fortt’s 0.003461 BTC would equate to $346.10.

Should the cryptocurrency ascend to $1 million, as forecasted by Cathie Wood, the humble $1 from Armstrong would balloon to $3,461.

The decision not to bolster his Bitcoin stash likely lingers as a regret for Fortt, as a hypothetical $100 investment on the day he met with Armstrong could currently command a value of $24,352.11.

Next to Read: 10 Crypto Insights from Coinbase CEO Brian Armstrong: ‘Bear Markets Are for Building’

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