Boost VC Founder and Managing Director Adam Draper is doubling down on his early investment in Coinbase.
The venture capitalist was a guest on Ran Neu-Ner‘s Crypto Trader (CNBC Africa) show on Thursday where he was asked about Coinbase’s growth potential. The interview at Crypto Invest Summit in Los Angeles came just hours after Neu-Ner confirmed recent reports that Coinbase is raising up to $500M at an $8 Billion valuation.
Draper told Neu-Ner that he believes “Coinbase will be the largest company on the planet and one of the first 10 companies to (reach) a trillion dollar valuation. Basically the entire digital foreign exchange economy is in the multiples of trillions of dollars every month network spent.”
“What (Coinbase CEO) Brian Armstrong is trying to do is onboard everyone to a peer-to-peer financial ‘banking’ system,” he said. “It is the biggest idea that can exist and it will fundamentally change the way the world works.”
Crypto Trader also obtained exclusive information that Coinbase plans to raise the $500M in two capital rounds: one in preferred equity and the other in common stock. In terms of 2018 revenue, Coinbase is said to have made $90M last quarter on 25M customer accounts.
CNBC Cryptotrader exposes details of the Coinbase IPO raise tomorrow on a Cryptotrader exclusive. pic.twitter.com/YG4UOP3ju8
— Ran NeuNer (@cryptomanran) October 25, 2018
Watch Thursday’s full episode of Crypto Trader below.