Investors Of Coinbase Won!

NBA star Kevin Durant's investment in Coinbase in 2017 has increased its value 53 times! Stocks of the cryptocurrency platform Coinbase Global Inc. were traded at $ 328.28 on Wednesday, becoming the most valuable US financial stock market paper.

The approximate value of the company is around $ 86 billion.

Brooklyn Nets star Kevin Durant, the third highest earning player in the NBA, was one of the first to invest in the Coinbase IPO. Durant and his business partner, Rich Kleiman, invested heavily in Coinbase in 2017 through their investment company, Thirty Five Ventures. At that time, Coinbase was providing capital for Series D funds. Durant owns around $ 100 million in Coinbase, according to estimates by business reporter Joe Pompliano. The fact that the company, whose users are primarily interested in Bitcoin and Ethereum, is valued 53 times higher than when Kevin Durant invested, and still gives the potential to make an even greater leap from the company's current value. It is unclear how much Durant invested in Coinbase in 2017, but it is projected that he made million-dollar investments. We also know that it invested $ 1 million in Postmates before its sale to UBER in 2020.

If he invested $ 1 million in Coinbase in 2017, his investment today is worth over $ 53 million.

Durant and Thirty Five Ventures have also invested in various startups, including financial services company Acorns, e-sports organization Andbox, and alternative asset management company Alt. Other key and early-stage investors at Coinbase include PayPal and LinkedIn co-founder billionaire Reid Hoffman, libertarian hedge-fund manager Dmitry Balyasny, Google, Ventures founder Bill Maris, and political strategist and investor Bradley Tusk. Shares of the cryptocurrency exchange Coinbase surged 1.4 last week and are still said to be in a buy position by several Wall Street analysts.   Investors Of Coinbase Won! Source: https://www.marketwatch.com/ You may also be interested in: A Simple And Effective Lesson From Jeff Bezos In His Latest Shareholder Letter: Creating Value