Tim Draper Reveals Why He Missed Out on Investing in Coinbase, Believing Crypto Market Was Too Early for Mainstream Adoption

Odaily Odaily reports that Tim Draper, founder of Draper Associates, stated that his early decision not to invest in Coinbase was based on his judgment that retail crypto adoption would still take a considerable amount of time, rather than a lack of recognition for Coinbase co-founder and CEO Brian Armstrong.

Tim Draper revealed that at the time, he had already invested in the early Bitcoin company Coinlab, which is why he initially did not invest in Coinbase; his son, Adam Draper, disagreed with this judgment and provided Brian Armstrong with the first check. Tim Draper subsequently participated in Coinbase's next funding round. Coinbase was later co-founded by Brian Armstrong and Fred Ehrsam and developed into a crypto platform, going public on Nasdaq under the ticker symbol COIN.

Tim Draper stated 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.