2019 ESSENCE Festival - Day 2 - Performances

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As cryptocurrency rapidly gains popularity, Nas is making headlines for a reported investment that could reap him hundreds of millions of dollars. According to reports, the Queens rap legend previously invested in crypto economy┬ácompany Coinbase, and that decision is about to pay off big time… allegedly.

From HotNewHipHop:

“Having previously made an investment in Coinbase, a new report indicates that the company is looking at a potential valuation of $100 billion dollars when its COIN stock officially lists this coming Wednesday. A report from Yahoo Finance traces Nas’ involvement in Coinbase back to 2013 when his Venture company invested twenty-five million dollars in the cryptocurrency; in 2014, TIME magazine actually named Coinbase as ‘the second most exciting tech start-up.'”

If projections are correct, Nas could earn anywhere between $30 and $220 million dollars. HNHH continues:

“The report projects that, based on previous analysis done by Coindesk, Nas’ Queensbridge could own a low-end of 99,329 shares or a high-end of 496,642. Using those figures paired with previous Coinbase share prices of $350, a possible outcome would net Nas’ company between $34.76 million and $173.8 million. Now, a new assessment by investment bank DA Davidson projects an updated Coinbase share price of $440, which would boost Nas’ potential payday by a respective rise of $43.7 million or $218.5 million. The report also cites a source’s confirmation that Nas’ Queensbridge Venture Partners is still very much on the table when it comes to Coinbase.”

Stay tuned, as we’ll continue to keep you updated on any new information concerning Nasir’s business moves.

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