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    Nas Rakes In Millions Thanks To Coinbase Investment


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    The only rapper who can honestly say they “ethered” JAY-Z in a battle is now celebrating a huge financial victory.

    Quietly Nas has been building quite the investment portfolio through his venture capital firm QueensBridge Venture Partners. One of those investments recently has proven to be a very lucrative one for the “One Mic” crafter. On Wednesday (Apr.14), Coinbase Series B went public on the NASDAQ stock exchange with a share price of $381.

    Nas’ QueensBridge Venture Partners reportedly dropped a large investment in the Coinbase Series B to the sum of $100,000 and $500,000. It is now the largest cryptocurrency exchange in the United States. CoinDesk broke down purchase and reports that at the time, the share price was $1.00676 and that QueensBridge owns between 99,329 to 496,642 shares. When that’s turned into dollars, the company could roughly own between $34.76 million and $173.8 million in Coinbase in less than 8 years following its investment.

    The Queens MC took to Twitter to celebrate his crypto comeuppance writing in two tweets, “Long crypto forever…. in sickness & in health. Shout out to @FEhrsam @brian_armstrong @bhorowitz @cdixon #CoinbaseIPO.”

    Coinbase is now valued at $100 billion after going public and “will mark the first official juncture between the traditional financial avenue and the alternative crypto path,” according to Ipek Ozkardeskaya, a senior analyst at Swissquote.

    Guess it’s time to start to call the rapper Nasdaq Jones.

    Recently, Jones joined other NYC Hip-Hop legends JAY-Z, Diddy, and Steve Stoute in endorsing Ray McGuire for mayor. You can peep that full story by heading here.

    Photo: Bernard Smalls / @PhotosByBeanz83


    Nas Hits The Crypto Jackpot Thanks To Coinbase Investment, Celebrates Financial Win On Twitter 
    was originally published on
    hiphopwired.com

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