Adam Draper, Crypto Mainstay, Discusses How Coinbase Will Impact the Bitcoin Ecosystem
The mainstream implementation of the crypto industry has been constantly brought up in the news over the last few years. The goal of the proponents of the market appears to be the assurance that the digital assets will find their place in the economy, while explaining the origins of the crypto space’s foundation.
This subject was of particular interest to a discussion between multiple major influencers, like founder Anthony Pompliano of Morgan Creek Digital Capital and Managing Director Adam Draper of BoostVC.
Adam Draper, who was one of the first individuals to invest in Coinbase, believes that most crypto startups create their platform with no idea of who the customers will be when everything is complete. However, without this consideration, the impact on the company’s growth is substantial. The details can show companies how much they have grown, helping with the adoption into mainstream.
Draper added that, when he first started investing and creating new brands, the only way that the Securities and Exchange Commission (SEC) appears to be concerned is if the operators make money. With this in mind, he developed his venture capitalist fund that geared itself towards marketing to entrepreneurs.
When Pompliano discussed the experience that Draper had with cryptocurrency prior to the Coinbase investment he made, Draper said that he had absolutely “no experience in crypto at all.”
Instead, he was provided with a list of many companies that were available for investments. One of the investment opportunities said, “marketplace of digital currencies,” which Draper had no clue about. He followed it with a letter to Brian Armstrong, making himself sound “better than [he] was.”
Speaking on why he ultimately chose to invest in Coinbase, Draper said that it is the largest crypto exchange platform, based on its user base.
He added that Armstrong had told him that the whole world will eventually run on a mutual infrastructure, which completely uprooted his former thinking. Since then, Draper has had multiple discussions with other players in the crypto space, like founder Bill Barhydt of Abra.