Palihapitiya, billionaire venture capitalist and chairman of Virgin Galactic, recently stated on Twitter that he could have invested in cryptocurrency exchange platforms many years ago but did not pursue what was then an amazing opportunity. Although he had the means to acquire a sizeable portion of the company Coinbase when it was seeking funding during the development stages, he declined as he believed it was much more important and fitting to own Bitcoin directly. Therefore, he opted to buy Bitcoin (BTC) units rather than attributing the same funds to Coinbase shares, a move he openly stated to regret.
According to internal statements, Coinbase is now valued at nearly $70 billion and has launched many profitable subsidiary companies by expanding out or investing in promising startup ventures. The platform is now widely considered as one of the major players to emerge in the crypto industry, and it appears that the firm is about to expand further as a result of its upcoming public listing. As it now shows, early participation in the investment stage of the platform would have been highly lucrative.
To this day, the billionaire has remained a cryptoasset holder and is yet to demonstrate any sign of parting ways with his investment. As he retains his investment in the highest ranked digital currency by market cap, while acknowledging that investing in cryptoasset businesses could prove equally beneficial.
Though there are many similar platforms larger than Coinbase, on multiple metrics the platform remains central to the industry. The company released its sales volume of approximately $1.8 billion for the first quarter of 2021, the figures represent the apex of their success so far.
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