Coinbase Investor Fred Wilson Said Bitcoin Could Be A 'fantasy' When He First Invested In 2013. His Firm's Stake Is Now Worth A Whopping $4.6 Billion, Or 1,840 Times Its Initial Investment | Currency News | Financial And Business News | Markets Insider
The legendary investor didn't think much of the cryptocurrency asset space in 2013.: Union Square Ventures co-founder Fred Wilson once described bitcoin as science fiction - then invested $2.5 million in Coinbase Global. Eight years after, the legendary venture capitalist became the company's most profitable exit investor. While Coinbase, the largest cryptocurrency exchange in the US, had a volatile first trading day when it listed on the Nasdaq in April, it boasted a valuation on a fully diluted basis of about $86 billion by the end of the day.