> ## Content Index > Fetch the complete content index at: https://www.prakashchand.com/llms.txt > Use this file to discover other available public pages before exploring further. # My Bitcoin Story Started at $1.07 - URL: https://www.prakashchand.com/my-bitcoin-story-started-at-1-07/ - Published: 2026-08-27T16:22:10.000Z - Updated: 2026-08-28T18:20:00.000Z - Author: Prakash Chand **In 2011, I bought 1,000 Bitcoin at approximately $1.07 a coin.** I was in Palo Alto, California, at the offices of [Kosmix (now Walmart Labs)](https://en.wikipedia.org/wiki/Walmart%5FGlobal%5FTech?ref=prakashchand.com), and one of the guys I was meeting with wouldn't stop talking about Bitcoin. Bitcoin this. Bitcoin that. He had bought some himself and thought it was one of the coolest things happening in technology. His enthusiasm rubbed off on me. So I bought some too. Not because I had studied monetary policy. Not because I had a prediction about where the price was going. And definitely not because I thought those Bitcoin would someday be worth a fortune. **I bought them because I thought it was cool.** That's really it. Bitcoin was this strange new digital currency that almost nobody I knew had heard of. I was in Silicon Valley, someone I was meeting with was excited about it, and for a little over $1,000 I could own 1,000 of them. So I did. There was no grand investment thesis. No spreadsheet. No prediction that Bitcoin would become a global asset. And what happened next proves it. ## I Gambled With 223 Bitcoin In 2012, I discovered a Bitcoin gambling platform called SatoshiDice. I ended up using **223 Bitcoin** on it. Read that number again today and it sounds completely insane. **223 Bitcoin.** But you have to understand how I thought about it at the time. I wasn't sitting there thinking I was gambling with an asset that could someday be worth hundreds of thousands—or potentially millions—of dollars per coin. To me, I was gambling with a few hundred dollars. That's it. Bitcoin was still this fun, experimental thing on the internet. Using hundreds of them on SatoshiDice didn't feel remotely like the decision it would be today. Knowing what I know now, of course I'd love to have those Bitcoin back. But that's the danger of looking backward and pretending you knew then what you know today. **I didn't.** I bought Bitcoin because I thought it was cool. I gambled with Bitcoin because I thought it was fun. My real conviction came much later. ## Then I Forgot About Bitcoin Life moved on. Bitcoin wasn't something I woke up every morning thinking about. There were no Bitcoin ETFs, no institutional adoption stories everywhere you looked, and no constant conversation about Bitcoin as a global asset class. For a while, I basically forgot about it. And in 2014, that would lead to what is easily the most expensive mistake of my life. At the time, **I had an office at 67 Mowat Avenue in Toronto.** Like most offices, over time we accumulated old computers, hard drives and electronics that we no longer needed. One day, while clearing some of it out, a device containing access to **777 Bitcoin** ended up in the building's recycling room. I threw it away. **777 BTC.** Gone. Today, that number is almost difficult to comprehend. But it's also an important part of my story. It's easy to hear that someone bought Bitcoin at $1.07 and assume they must have been some kind of visionary who understood exactly what they owned. I didn't. I bought Bitcoin because someone I met in Palo Alto wouldn't stop talking about it and I thought it was cool. I gambled with 223 Bitcoin because, at the time, it felt like gambling with a few hundred dollars. Then I essentially forgot about Bitcoin. And eventually, I threw away access to the remaining 777 BTC in a recycling room at 67 Mowat Avenue in Toronto. My conviction in Bitcoin didn't come from buying it at $1.07. **It came from everything that happened afterward.** ## Being Early and Understanding What You Own Are Two Different Things I've now spent 15 years watching Bitcoin evolve. I've watched people laugh at it. I've watched people dismiss it as fake internet money. I've heard it called a scam, worthless and garbage more times than I can remember. I've also watched some of those same people eventually become buyers. And through all of that, I've made plenty of mistakes of my own. I've made money in this industry. I've lost money. I've made decisions that look brilliant in hindsight and others that look completely insane. I've chased things I shouldn't have chased. I've sold things I shouldn't have sold. I've learned lessons that cost me far more than I ever expected to pay for them. But perhaps the biggest lesson is also the simplest: **Being early and understanding what you own are two very different things.** Buying Bitcoin at $1.07 didn't make me a genius. If anything, what I did with those Bitcoin afterward proves the opposite. I was simply early. The understanding came later. ## Fifteen Years Later Today, I understand Bitcoin very differently than I did when I first bought it in 2011. Back then, I thought it was cool. Today, I believe Bitcoin is one of the most important assets of our lifetime. And after everything I've experienced—the wins, the losses, the mistakes, the volatility and 15 years of watching Bitcoin survive one supposed death after another—my thinking has actually become much simpler. I'm not interested in finding the next Bitcoin. **I want Bitcoin.** I believe Bitcoin will eventually be worth **millions of dollars per coin**. I believe **$1 million Bitcoin around 2030 is achievable**, and I believe there is a path substantially beyond that over the decades that follow. I'll explain why I believe that in another article. Because this isn't supposed to be an argument for where Bitcoin's price is going. It's the story of where my relationship with Bitcoin started. And the truth is far less impressive than people probably expect. I was in Palo Alto. A guy wouldn't stop talking about Bitcoin. I thought it sounded cool. So I bought 1,000 of them for about $1.07 each. That's it. Everything I've learned about Bitcoin came afterward. ## Why I'm Writing Now For most of the past 15 years, my conversations about Bitcoin have happened privately. Friends call me. Businesspeople ask what I think. People who have done extremely well financially in other areas ask me how they should think about Bitcoin. And I've realized that after 15 years, I've accumulated enough experiences—the good ones and especially the bad ones—that they're worth sharing. That's what I'm going to do here. I'm not going to pretend I've gotten every prediction right. I haven't. I'm not going to pretend every decision I've made has worked out. It definitely hasn't. And I'm not interested in promoting every new cryptocurrency that comes along. I'm going to write about what I've actually experienced. The wins. The losses. The mistakes. The people I've met along the way. And the lessons I've learned watching Bitcoin go from something a guy in a Palo Alto office thought was cool to a global asset. There are a lot of stories to tell. But there's one I probably need to tell next. Because buying 1,000 Bitcoin for $1.07 is only half of the story. **I eventually threw away access to 777 of them.** That story deserves its own article.