Boost VC\'s Adam Draper Thinks Coinbase (COIN) Will Be the \'Best Investment\' Over the Next Five Years

Managing partner of Boost VC and early Coinbase (COIN) investor Adam Draper thinks the crypto exchange will be the “best investment” over the next five years as he emphasized the value of a long-term investment strategy.

VC: Coinbase Will Be 'Best Investment' Over 5 Years Despite Brutal 2022

Boost VC's Adam Draper still holds early Coinbase (COIN) investment, highlighting long-term VC strategy.

AUSTIN, Texas — Boost VC’s Adam Draper thinks Coinbase (COIN) will be the “best investment” over the next five years, highlighting the value of a long-term investment strategy.

Draper was speaking on a panel at CoinDesk's Consensus 2023 conference titled "Silicon Valley’s Reckoning." He was joined by Future Perfect Ventures founder Jalak Jobanputra and Pantera Capital partner Lauren Stephanian.

When asked by CoinDesk Deputy Managing Editor Tracy Wang about the time horizon of a venture capital's investment, Draper said he is a long-term player and still holds most of the investments he has made in crypto.

Draper went on to explain that there is a distinction between a hedge fund and a VC in terms of time horizon of an investment, indicating that hedge funds tend to focus mostly on the short-term trades.

“If you are a short-term investor, if you are on Wall Street, you think that last year Coinbase was an awful investment,” Draper said. "And I would argue that over the next five years it’s going to be the best investment," he added. He noted that right now – "emotionally everyone would hate [investing in Coinbase].”

Draper did admit that he sold half of his Decentraland investment near the peak of the 2020-21 bull market. The metaverse company's MANA token hit a high of more than $5 during that run. It's trading at about 56 cents today, according to CoinDesk data.

Shares of Coinbase have fallen about 57% in the last 12 months but rose about 49% this year, according to TradingView.

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