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Nas Investment in Coinbase Figures Up To a $40M Profit

Nas Investment in Coinbase Figures Up To a $40M Profit

Nas is significantly richer after investing in Coinbase before the company went public.

Rapper Nas has made quite a few investments that is currently padding the Queens-native emcee’s pocket over the last few years. According to Crunchbase, Nasir Jones has 30 portfolio investments in companies like Seatgeek, Genius, and recently in 2014 launched a label with Mass Appeal after becoming Associate Publisher in 2013.

According to Forbes, Nas’s most recent investment through his affiliate QueensBridge Venture Partners is is estimated to be worth a whopping $40 million USD

Reports indicate that QueensBridge Venture Partners joined the company’s $25 million Series B round as a backer in 2013. While no specific amount has been confirmed, the firm’s general investment level sits at around $100K to $500K.

The Series B investment level saw shares in Coinbase sitting at 1.00676, meaning Jones’ firm would have between 99,239 and 496,642 shares, according to CoinDesk. When trading began on Thursday and Coinbase share exploded in popularity, the stock reached a whopping USD$415, meaning Nas’ shares in the cryptocurrency exchange are now estimated to be valued between USD$41.2 million and USD$206 million.

Nas tweeted just hours before Coinbase started trading:

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Congratulations Nas on a smart investment with the Cryptocurrency market.

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