Early Coinbase investor compared the company with Google and supported the narrative that the crypto industry is still in its early stages.
Notable tech investor Ron Conway called the crypto industry ”the next multimillion-dollar opportunity in innovation.” On the day when Coinbase’s (COIN) shares officially started trading, Conway opined that the crypto sector is quickly growing, but it is just getting started.
Coinbase – ”The Google For The Crypto Economy”
Ron Conway, an early investor in the largest U.S. cryptocurrency exchange along with popular corporations like Airbnb, Facebook, and Google, spoke about the future of crypto in an interview on CNBC’s ”TechCheck.” He described it as ”the next multimillion-dollar opportunity in innovation.”
Conway expressed high hopes that the sector is quickly growing and outlined its massive potential. According to him, it is still at its starting point.
The investor shared his opinion when Coinbase’s shares officially started trading. During the interview, he compared Coinbase to the biggest search engine in the world – Google:
”I absolutely believe that Coinbase is the Google for the crypto economy and opens this huge opportunity to consumers.”
The investor believes the company operates as a market leader as it focuses entirely on cryptocurrency rather than diversifying in different sectors. Conway said that the cryptocurrency exchange platform had created a strong brand that attracts new customers through its customer-friendly design:
”Coinbase is constantly adding new crypto services and new coins available to its service.”
Potential Threats For The Industry
Coinbase stocks (COIN) opened with a price tag of around $400. However, despite the positive start, CEO Brian Armstrong warned about some regulatory threats to the industry.
He highlighted the significance of a fair legislative framework that could enhance the development of the sector instead of restricting it.
”Basically, we just ask that, hey, we want to be treated on those level playing field with traditional financial services at the very least and not have any kind of punishment for being in the crypto space.”
Ron Conway also touched on the topic of the competition between the U.S. and China. He said America should strive to be the leading nation in the crypto world and create jobs in the sector:
”There’s going to be millions of jobs created from this trillion-dollar industry, and we want those jobs to be in the United States.”
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