"The wealthy are not the gold miners, but the shovel sellers."
Written by: TRACER
Translated by: Tim, PANews
Brian Armstrong is one of the wealthiest figures in the cryptocurrency field. He founded the Coinbase exchange and earned $8 billion in just five years. Forbes ranked him as one of the top investors in the world.
Here are his Memecoin secrets, strategies, and five major predictions.
The tremendous growth of the cryptocurrency industry owes much to a few key individuals, and Brian Armstrong is one of them.
He entered this field due to his belief in technology and fundamentally changed his life trajectory through his faith in Bitcoin.
Brian Armstrong's growth experience and industry insights are worth revisiting for inspiration:
Brian was born in San Jose, California, and showed entrepreneurial potential from a young age.
He once admitted in an interview that he was 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.
He later attended Rice University for further studies and obtained a master's degree.
After graduation, he chose to live in Buenos Aires, Argentina, for a year, during which he experienced hyperinflation firsthand.
The method to combat this economic turmoil—cryptocurrency—became the direction he would explore in the future.
After graduating from college and going through a series of jobs, he co-founded a platform for finding private tutors with a friend.
The platform allowed teachers to post personal information and offer tutoring services to potential student clients.
Brian Armstrong served as the CEO of this project for eight years and eventually sold it for an amount equivalent to 21 times his annual income.
Brian Armstrong first learned about Bitcoin during Christmas 2010 while staying at his parents' home in San Jose, where he stumbled upon the foundational document written by Satoshi Nakamoto—"Bitcoin: A Peer-to-Peer Electronic Cash System."
From that moment on, he began to consider starting a major venture.
He adopted a guiding principle for entrepreneurship: "The wealthy are not the gold miners, but the shovel sellers."
At that time, there was a direct competitor in the industry, the famous Mt. Gox, but the platform had serious trading delay issues.
In 2021, Brian Armstrong and Fred Ehrsam officially registered Coinbase.
Coinbase began to attract significant investment, with a valuation more than eight times Brian's original target. He initially aimed to create a company valued at $1 billion.
Today, Brian Armstrong is living his ideal life, possessing billions in wealth.
He actively shares his views and advice, which you should definitely consider:
Currently, Brian Armstrong firmly believes in the need to reform cryptocurrency regulatory policies.
The previous government severely hindered the development of the industry, and now is the best time to correct this issue.
Discussions are underway to appoint a pro-cryptocurrency SEC chairman and establish a clear and stable legal framework, which would be a significant boon for the cryptocurrency market.
Brian Armstrong holds a rather positive view of Memecoins and believes they have certain development prospects.
In his view, just as GIFs and internet memes have become part of the internet economy, Memecoins could also become important cultural and even economic phenomena.
This is a substantial viewpoint worth deep consideration.
Brian also shared a media browsing tip: you should never listen to those promoters on YouTube.
Three core elements to focus on when analyzing projects:
The number of GitHub code contributions
The team's activity level on Twitter and Discord
The response to criticism; if the project team remains silent, that is a dangerous signal
The current policies of the new Trump administration may significantly increase the inflow of institutional funds into the market, as government actions will effectively enhance the confidence of financial institutions, with the core driving force being the government's advancement of legislation related to stablecoins and digital dollars.
Brian Armstrong believes that cryptocurrency will never replace the traditional financial system but will serve as a strong 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 suggestion: be sure to develop products that can interface with traditional financial structures.
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