Behind Coinbase and Robinhood, a famous rapper cracks the jackpot

There was a lot of news about cryptocurrencies and financial markets last week. Coinbase dethroned Facebook’s historic achievement for an initial public offering of more than $ 100 billion in the first few minutes of its listing. For its part, Robinhood took advantage of the rise in prices for Bitcoin and other altcoins such as Dogecoin and registered a wave of new registrations.

Coinbase and Robinhood were born in 2012 and 2013 and are two of the most popular apps for buying cryptocurrency. Robinhood was launched primarily in the US private equity trading business, but had 9.5 million new users who completed a cryptocurrency purchase in the first quarter. The company plans to go public and its valuation for such a deal is already estimated at $ 40 billion.

Jackpot for rapper Nas

The similarity between Coinbase and Robinhood doesn’t end there. Eight years ago, a famous American rapper, with around 25 million albums sold since 1994, recognized the potential of the two fintechs. The New Yorker Nas is in fact one of the earliest investors in Coinbase and Robinhood and has just hit the jackpot on the occasion of Coinbase’s direct listing.

As reported by BFM Bourse, the value of its original Coinbase investment skyrocketed. Without the disclosure of the amount (estimated at $ 100,000 to $ 500,000 in 2013 via investment firm QueensBride Venture Partners), it would have dropped between $ 40 million and $ 200 million last week after the listing.

On Twitter, the rapper encouraged his community to believe in (and invest in) cryptocurrency. Two hours after Coinbase went public, he posted a tweet: “Long crypto forever…. in illness and health “(Forever bullish position on crypto currencies … in health and illness).

Long crypto forever…. in sickness and health

– Nasir Jones (@Nas) April 14, 2021

Eight years ago, Nas also invested in Robinhood. The rapper wasn’t the only one on this fintech’s record, along with Snoop Dogg and Jay-Z (who bought Tidal). According to a source familiar with the company, Nas is close to Ben Horowitz, the founder of Andreessen Horowitz, a US venture capital fund that is also a Coinbase shareholder. Through that contact, the rapper would have been advised on his investments, which include Dropbox and Lyft. Damn good flair.

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