Brian Armstrong has always believed: "Those who get rich are not gold miners, but those who sell shovels".
Original: This is Brian Armstrong, richest crypto person
Author: TRACER
Translated by: Tim, PANews
Cover: Coinbase
Brian Armstrong is one of the wealthiest figures in the cryptocurrency field, having founded the Coinbase exchange and earning $8 billion in just five years. Forbes has named him one of the top global investors.
Here are his Memecoin secrets, strategies, and five major predictions.
The massive development of the cryptocurrency industry owes gratitude to a few key individuals, and Brian Armstrong
is certainly one of them.
He entered this field driven by technological belief and completely changed his life trajectory through his faith in Bitcoin.
Brian Armstrong's growth experience and industry insights are worth repeated reading and drawing inspiration from:
Brian was born in San Jose, California, and showed entrepreneurial potential from a young age.
In an interview, he candidly admitted being called to the principal's office for selling candy on the school playground.
During high school, he developed a passion for internet technology and began learning programming.
Afterwards, he went to Rice University and obtained a master's degree.
After graduation, he chose to live in Buenos Aires, Argentina for a year, during which he personally experienced hyperinflation.
The method to combat such economic turmoil - cryptocurrency - became the direction he would later delve into.
After college, and after a series of jobs, he co-created an intermediary service platform for finding private tutors.
The platform allowed teachers to post personal information and offer teaching services to potential student clients.
Brian Armstrong served as the CEO of this project for eight years and ultimately sold it for a price 21 times his annual income.
Brian Armstrong first learned about Bitcoin during Christmas 2010 while living at his parents' home in San Jose, when he accidentally discovered Satoshi Nakamoto's foundational document - "Bitcoin: A Peer-to-Peer Electronic Cash System".
From that moment, he began considering creating something significant.
He adopted a business principle: "Those who get rich are not gold miners, but those who sell shovels".
At the time, there was a direct competitor in the industry, the famous Mt. Gox, but the platform suffered from serious trading delays.
In 2021, Brian Armstrong and Fred Ehrsam officially registered Coinbase.
Coinbase began receiving massive investments, with its valuation over 8 times his original target. He initially aimed to create a company valued at $1 billion.
Now, Brian Armstrong is living his ideal life, with billions in wealth.
He actively shares his views and advice, which you absolutely should consider:
Currently, Brian Armstrong firmly believes it is necessary to reform cryptocurrency regulatory policies.
The previous government severely hindered the industry's development, and now is the best time to correct this issue.
Various parties are discussing appointing a pro-cryptocurrency SEC chair and establishing a clear and stable legal framework, which would constitute a major positive for the cryptocurrency market.
Brian Armstrong has a quite positive view of meme coins and believes they have certain development prospects.
In his view, just as GIF animations and internet memes have become part of the internet economy, meme coins could also become an important cultural and even economic phenomenon.
This is a weighty perspective, worthy of deep consideration.
Brian also shared a media browsing suggestion: Never listen to those sellers on YouTube.
3 core elements to focus on when analyzing projects:
- Number of GitHub code contributions
- Team's activity level on Twitter and Discord
- Response to criticism, if the project team remains silent, it is a dangerous signal
The current policies of the Trump administration may significantly increase institutional capital liquidity inflow in the market, all of which stems from government actions that will effectively enhance financial institutions' confidence, with the core driving force being the government's advancement of legislation related to stablecoins and digital dollars.
Brian Armstrong believes that cryptocurrencies will never replace the traditional financial system, but will provide a powerful complement to it.
Exchange-traded funds (ETFs), asset custody services, and deeply integrated products with banks and fintech platforms will become development trends.
This is essentially a practical advice: be sure to develop products that can interface with traditional financial architectures.
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