Ross Ulbricht Reflects on Bitcoin’s Rise at BTC 2025

Ulbricht, the founder of the now-defunct Silk Road marketplace, recalled the early days of Bitcoin when the ecosystem was just beginning to form. “When I launched Silk Road, buying a whole Bitcoin would set you back less than a dollar,” he said. “Pocket change. Can you imagine that?”

He added that, at the time, the market infrastructure was minimal. “Back then there was just one exchange,” he said, referencing Bitcoin’s infancy and limited trading options.

Now, more than a decade later, Bitcoin trades above $100,000, has become a key institutional asset, and has been integrated into financial systems globally. Ulbricht’s comments struck a nostalgic note, underscoring how far the asset—and the technology behind it—has come.

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Despite his incarceration, Ulbricht remains a symbolic figure in the BTC community, often cited in conversations around internet freedom, decentralization, and the early ideals of crypto.

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