fbpx
QQQ
-0.17
324.58
-0.05%
DIA
-0.81
344.46
-0.24%
SPY
-1.17
416.69
-0.28%
TLT
-0.37
137.16
-0.27%
GLD
+ 0.36
174.34
+ 0.21%

Coinbase's First Employee Was Paid Entirely In Bitcoin When It Was Worth $13

April 15, 2021 6:15 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Coinbase's First Employee Was Paid Entirely In Bitcoin When It Was Worth $13

Olaf Carlson-Wee — the first employee at major United States crypto asset exchange Coinbase (NASDAQ:COIN) — got his job with a cold email and was paid exclusively in Bitcoin (CRYPTO: BTC) for three years.

What Happened: According to a CNBC report, Carlson-Wee sent his 90-page undergraduate thesis on Bitcoin in an enthusiastic but “annoyingly long” cold email to Coinbase, asking for a job at the company.

He said, “I literally cold emailed jobs@coinbase and said, ‘I love bitcoin. Here’s my thesis. I’ll do any job."

While in most cases, such an approach would likely result in being ignored, Carlson-Wee received an email from one of Coinbase’s two co-founders, former Goldman Sachs Group Inc (NYSE: GS) trader Fred Ehrsam five minutes later, inviting him to a video call. The 20-minute video call resulted in an invite for an in-person interview in San Francisco.

See also: How to Buy Coinbase IPO (COIN) Stock

At the end of the selection process, Carlson-Wee landed a customer-support job for three years, being paid a starting salary of $50,000 per year in Bitcoin.

In early 2013 the price was just over $13 per bitcoin before spiking to more than $1,100 later that year.

Just yesterday, Bitcoin broke a new all-time high of $64,000 just days after breaking $63,000 for the first time.

Price Action: Coinbase stock closed at $325, with a 0.70% gain.

Image: Glassdore, Coinbase


Related Articles

Coinbase Announces Proposed Private Offering Of $1.25B Convertible Senior Notes

Coinbase announced its plans to offer a $1.25 billion aggregate principal amount of Convertible Senior Notes due 2026 in a private offering to expand business operations. read more

Cathie Wood Cuts Apple Stake Almost Entirely — And Buys More Coinbase

Cathie Wood-led Ark Investment Management on Monday shed nearly all of its stake in Apple Inc (NASDAQ: AAPL) and continued to snap up shares of Coinbase Global Inc (NASDAQ: COIN). read more

Bitcoin Still Has Upper Hand Over Tesla Shares, Says Analyst Who Predicted Rise To $50K

An analyst who forecasted the apex cryptocurrency’s rise to $50,000 levels last year said Thursday that Bitcoin (BTC) has a relatively upper hand compared to Tesla Inc’s (NASDAQ: read more

Tesla Has Had A Major Bull In Cathie Wood's Ark. Now The Two Are At Odds Over Elon Musk's Bitcoin Stance

Cathie Wood-headed ARK Invest’s Director of Research Brett Winton is calling Bitcoin (BTC) a “novel economic institution” and said its potential outweighs its energy requirements — a stance diametrically opposite taken by Tesla Inc read more