The only rapper who can honestly say they “ethered” JAY-Z in a battle is now celebrating a huge financial victory.
U.S. rapper Nasir Jones (better known by his stage name, 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 calling the rapper Nasdaq Jones.
Recently, Jones joined other NYC Hip-Hop legends JAY-Z, Diddy, and Steve Stoute in endorsing Ray McGuire for mayor. Other rappers and athletes involved in the cryptocurrency wave include Jim Jones, Lil Yachty and Kevin Durant.
Photo: Bernard Smalls / @PhotosByBeanz83