Boost VC’s Adam Draper Sold Half of Decentraland (MANA) at High of More Than $5 During 2020-21 Bull Market
At CoinDesk’s Consensus 2023 conference, Adam Draper, the managing partner of Boost VC and an early investor in Coinbase (COIN), made some interesting comments on stage. Draper, who appeared on a panel titled “Silicon Valley’s Reckoning,” discussed his experiences with investing in cryptocurrencies and shared his views on the industry’s future.
During the panel, Draper admitted that he sold half of his Decentraland (MANA) investment near the peak of the 2020-21 bull market. The MANA token hit a high of more than $5 during that run but has since dropped significantly and is currently trading at around $0.555, according to Coingecko data.
Draper also spoke about his long-term investment strategy and shared his bullish outlook on Coinbase’s future. “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, noting that emotionally, everyone would hate investing in Coinbase right now.
Draper’s comments highlight the importance of taking a long-term view when investing in cryptocurrencies. While the industry can be volatile, Draper believes that companies like Coinbase have the potential to be very successful over the next few years, making them a good investment opportunity for those with a long-term perspective.
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