Tim Draper Reveals Why He Did Not Invest in Coinbase

Tim Draper, founder of Draper Associates, stated that the reason he did not invest early in Coinbase was his belief that retail adoption of cryptocurrency would take longer than expected, rather than a lack of confidence in Coinbase co-founder and CEO Brian Armstrong. At the time, Draper had already invested in an early Bitcoin company, Coinlab, which led to his decision not to invest in Coinbase; however, his son Adam Draper disagreed with this assessment and provided the first check to Brian Armstrong. Draper later participated in Coinbase's next round of funding. Coinbase, founded by Brian Armstrong and Fred Ehrsam, has since evolved into a cryptocurrency platform and is listed on NASDAQ under the ticker symbol COIN. Draper noted that Coinbase has become one of the representative investments of Draper Associates Fund V, with returns from Coinbase alone nearly doubling the overall size of the fund.

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