Crypto economy is the next multi-trillion dollar opportunity, ‘Super Angel’ investor says

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Renowned Silicon Valley investor Ron Conway sees the crypto economy as the next multitrillion-dollar opportunity in innovation in an interview with CNBC to discuss the state of the crypto market and its future.

He said that last year, the crypto economy was around $778 billion and is headed to over a trillion. He also said that despite this, the market is still in its infancy.

The legendary investor, also known as “Super Angel,” likened Coinbase to Google after the former’s Initial Public Offering via a direct listing at Nasdaq.

Conway has investments in Google, Facebook, Twitter, Reddit, PayPal, Airbnb, Square, and Pinterest, to name a few.

Thoughts about the crypto market

The Super Angel believes that no matter what, we are now in an inflated market, and that makes all companies have high prices today. He added that when you look at the size of the crypto market, they are comparable in certain aspects.

In likening Coinbase to Google, Conway was asked for his reasons, especially that there are a number of companies that are piling into the crypto space.

Conway responded by saying that other companies offer crypto as just an “add-on” while Coinbase is what is known as a “crypto-first” company, which is what sets it apart from all the others.

Amazed by Coinbase

On Wednesday, Coinbase listed on the Nasdaq and became public.

On its Initial Public Offering day, retail investors spent $57.35 million for the company, as revealed by Vandatrack, which monitors retail investing in 9,000 individual stocks and ETFs in the U.S. The public debut of the firm was estimated to be the fifth largest in terms of retail buying for newly listed shares since 2017.

Conway stated in his continued talk about Coinbase that it already has a great brand and has a solid reputation, and consumers are saying that it is the user-friendly door to crypto.

Image courtesy of Startupfood/YouTube

Jet Encila

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