Brian Armstrong, the co-founder and CEO of Coinbase, has dispelled a common misconception surrounding crypto investing for beginners.
According to an X post, the Coinbase CEO highlighted what he referred to as a common misconception that crypto assets, particularly Bitcoin and Ethereum, are too expensive for newcomers.
This misconception stems from the idea that new investors must purchase a whole Bitcoin or Ethereum token to start their crypto journey. This notion has been amplified by Bitcoin’s price surpassing $100,000 and Ethereum trading above $4,000.
As a result, many newcomers, especially retail investors, perceive these assets as prohibitively expensive, assuming they need to own an entire coin to participate.
You Don’t Need to Buy a Whole Bitcoin or Ethereum
However, the Coinbase CEO emphasized that beginners do not need to buy a whole Bitcoin or Ethereum to get started.
He stressed that with only a few dollars, people can buy and hold most crypto assets, including Bitcoin and Ethereum. Just like investors can own a fraction of stock, they can also purchase less than one BTC or ETH on crypto exchanges. This fractional ownership allows crypto to be accessible to anyone, including those on budget.
Armstrong’s comments aim to make crypto investing more approachable for everyday individuals, especially those who might feel excluded by Bitcoin’s six-figure price or Ethereum’s value exceeding $4,000 per token.
However, even with Bitcoin trading at $111,044, investors can buy with $1,000. In particular, a $1,000 investment would procure approximately 0.009 BTC.
It’s Not Too Late to Begin Investing in Crypto
The Coinbase CEO also stressed that it’s never too late to begin investing in crypto, as newcomers can always purchase fractions of these assets. However, as prices rise, the amount of crypto one can buy with a fixed sum decreases, and vice versa.
Armstrong’s remarks come at a time when many view crypto as an asset primarily for the wealthy, due to increased institutional participation in recent years. Institutions, including MicroStrategy, have continued making significant crypto investments.
Last week, MicroStrategy (now Strategy) announced the purchase of 220 BTC worth $27 million. This acquisition brought the company’s total holdings to 640,250 Bitcoin.
Similarly, BlackRock CEO Larry Fink revealed that the company’s Bitcoin holdings of around 804,944 BTC had surpassed $100 billion earlier this month.
While such large-scale investments may seem intimidating to newcomers, Armstrong emphasizes that entering the crypto market doesn’t require massive capital. Anyone can start investing in crypto with just a few dollars.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
