Brian Armstrong, CEO of cryptocurrency exchange Coinbase, recalled on Tuesday a famous quote by Bitcoin (CRYPTO: BTC) creator Satoshi Nakamoto from 15 years ago.
What Happened: Armstrong highlighted a quote from the pseudonymous creator from a Bitcointalk forum conversation on July 30, 2010.
Satoshi was responding to questions about Bitcoin's ability to handle a large number of transactions and users, with specific concerns around the 10 minutes taken to mine one block
"If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry,” Satoshi responded.
Reflecting on the quote, Armstrong stated that while it took some time, “hundreds of millions of people” now understand Bitcoin, underlining how knowledge and use of the major cryptocurrency have progressed over the years.
When Satoshi made that remark, Bitcoin traded at $0.06374 apiece. Today, it is a staggering 185102000% higher.
See Also: How Bitcoin Treasury Companies Are Beating Bitcoin’s Returns
Why It Matters: Armstrong has long admired Satoshi and confessed that he began working on Coinbase after reading the Bitcoin whitepaper authored by the mysterious personality.
Last month, Armstrong unveiled Coinbase’s upcoming cryptocurrency credit card, engraved with Bitcoin's Genesis block, created by Satoshi back in 2009
Price Action: At the time of writing, BTC was trading at $117,984.37, down 0.56% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, the asset has grown 26.33%.
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Photo Courtesy: Szabolcs Magyar On Shutterstock.com
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
