Based on a previous investment in Coinbase, Nas is reportedly eyeing a potential payday of up to one hundred million dollars.
There's a reason Nas stands unwaveringly confident in his business acumen, going so far as to imply victory in a hypothetical Investment Portfolio Verzuz battle. For starters, his QueensBridge Venture Partners company has made notable investments in Dropbox, Ring, Parachute, SeatGeek, General Assembly, Robinhood, Casper, Pillpack, and Pluto TV, with many of said investments proving quite favorable for the legendary lyricist.
Now, a new report indicates that Nas is looking at another incredible investment, this time in the world of cryptocurrency. Having previously made an investment in Coinbase, a new report indicates that the company is looking at a potential valuation of $100 billion dollars when its COIN stock officially lists this coming Wednesday. A report from Yahoo Finance traces Nas' involvement in Coinbase back to 2013, when his Venture company invested twenty-five million dollars in the cryptocurrency; in 2014, TIME magazine actually named Coinbase as "the second most exciting tech start-up."
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The report projects that, based on previous analysis done by Coindesk, Nas' Queensbridge could own a low-end of 99,329 shares or a high-end of 496,642. Using those figures paired with previous Coinbase share prices of $350, a possible outcome would net Nas' company between $34.76 million and $173.8 million. Now, a new assessment by investment bank DA Davidson projects an updated Coinbase share price of $440, which would boost Nas' potential payday by a respective rise of $43.7 million or $218.5 million. The report also cites a source's confirmation that Nas' QueensBridge Venture Partners is still very much on the table when it comes to Coinbase.
Stay tuned for more news on Nas' potentially massive payday as developments unfold. Do you think Nas has the potential to reach billionaire status in the next ten years?