Nas is reportedly about to see some huge returns from one of the early investments he made in 2013. As per a report by Yahoo! Finance, Nas’ investment firm Queensbridge Venture Partners had invested in Coinbase.

According to the report, Coinbase is about to reach the valuation of $100 billion when it hits the NASDAQ index next week. Nas’ firm had initially raised $25 million into Coinbase’s Series B. At the time, the currency exchange had reached a valuation of $143 million.

As per Anthony Saleh, Queensbridge Venture Partners’ co-founder, their early stage investments are somewhere between $100,000 and $500,000. At the time of the investment, the company’s single share valued at $1.00676. At the time, the firm had purchased around 99,329 or 496,642 shares.

According to a CoinDesk analysis, Nas could turn around about $34.76 million and $173.8 million, as the stock trading price was $350 per share during the last stock trade.

That’s not all. It’s possible that Nas could be looking at getting $218.5 million from his $43.7 million if Coinbase decided to go with a trade price of $440 with the investment bank DA Davidson.

[Via]
Nitish Vashishtha

Nitish Vashishtha is a freelance writer/news correspondent from India. He’s written content for companies like ScoopWhoop and Sportskeeda. He’s been writing about pop-culture, current affairs and pro-wrestling since 2017. While pursuing Master's in Mass Communication with a special interest in Advertising, his key areas of creativity lie in designing, content creation and creative storytelling as well as fictional writing. In his free time, he likes to create new riffs on his guitar, learning about whatever piques his interest, reading books ranging from philosophy to speculative sci-fi and enjoys watching anything HBO (Succession FTW).

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