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Of all the ways to grow rich from the cryptocurrency boom, Brian Armstrong chose perhaps the most conservative. 9yrs after founding the most popular destination in the US for cryptocurrency buyers, Coinbase, trades between private investors at about $100bn valuation. At those prices, Armstrong’s shares are worth a cool $14.8bn.
In Armstrong’s telling, he first came across the white paper that explained bitcoin while home with his parents for the holidays in 2010. His first bitcoin venture, a wallet to hold the currency on mobile phones, drew some attention in tech circles. But its mobile-only design left it unreliable and without the computing power that cloud computing companies had made cheaply available for websites. “I had this realisation: Somebody is going to have to make a really rock-solid cloud service for this, and that is the future,” Armstrong recalled.
https://www.ft.com/content/1077a75f-947f-4aab-ab28-46b6c3b5b52d
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