At CoinDesk’s Consensus 2023 conference, Boost VC managing partner Adam Draper drew attention. He took the stage to discuss his experiences in the cryptocurrency industry and share his views on the future. He also talked about a metaverse coin project he’s selling. During the panel discussion, Draper revealed that he sold half of his Decentraland (MANA) investment at the height of the 2020-21 bull market.
Venture capitalist sells metaverse coin
At CoinDesk’s Consensus 2023 conference, comments came from Boost VC’s managing partner. Adam Draper, also one of the first investors of Coinbase (COIN), shared some interesting comments on stage. Taking part in a panel titled “Silicon Valley’s Showdown,” Draper discussed his experiences in investing in cryptos. He also shared his views on the future of the industry. At one point, he talked about the trading process for a metaverse coin project and admitted to selling it.
During the panel, Draper admitted to selling his investment in the popular metaverse coin Decentraland (MANA). Moreover, the sale took place near the peak of the 2020-2021 bull market. According to Coinecko data, the MANA token was trading above $5 during this period. However, it has dropped significantly since then. Currently, it is trading at around $0.555, according to Cryptokoin.com data.
Adam Draper talks about his investment strategy for cryptocurrencies
Draper also talked about his long-term investment strategy and shared his bullish outlook for Coinbase’s future. “If you’re a short-term investor, if you’re on Wall Street, you would think that last year Coinbase was a lousy investment,” Draper said. “And I argue it will be the best investment in the next five years,” he added. He emotionally stated that everyone would hate to invest in Coinbase right now.
Draper’s comments highlight the importance of having a long-term perspective when investing in cryptocurrencies. While the industry is volatile, Draper believes companies like Coinbase have the potential to be very successful in the next few years. This makes them a good investment opportunity for those with a long-term perspective.
As a result, Adam Draper shared his thoughts on the future of the cryptocurrency industry and his personal experiences. Draper acknowledged that he sold half of his Decentraland (MANA) investment during the peak of the 2020-2021 bull market. He also stressed the importance of adopting a long-term investment strategy. On the other hand, he expressed his optimism about Coinbase’s long-term growth prospects despite short-term market fluctuations. Draper’s views highlight the potential of cryptocurrencies to be a lucrative option for long-term investors, especially established companies like Coinbase.
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