Ron Conway, known as being one of the first investors in Coinbase (the largest US crypto exchange) but also in other popular entities, such as Facebook, Google, Airbnb, or Pinterest, has recently given an interview for CNBC in which he describes crypto as “the next multimillion-dollar opportunity in innovation.”
Conway is hopeful that the sector will continue to grow fast and that we’re still just at the starting point. He also highlighted the incredible potential that the crypto sector has.
He also compared Coinbase to Google, the biggest search engine in the world:
“I absolutely believe that Coinbase is the Google for the crypto economy and opens this huge opportunity to consumers.”
Conway is of the opinion that the company is a market leader since it concentrates solely on crypto and not on diversifying in different sectors. The investor believes that Coinbase has managed to create a strong brand for itself, which means that new customers are attracted to it – its customer-friendly design has also helped:
“Coinbase is constantly adding new crypto services and new coins available to its service.”
Industry Threats
Coinbase stocks (COIN) have opened with a price tag of close to $400. The start was decisively positive, but CEO Brian Armstrong issued a warning regarding regulatory threats for the industry. He calls for a fair legislative framework that would enhance the development of the crypto sector and not restrict 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.”
Conway has also spoken about the competition between the US and China, pointing out that America needs to work on becoming the leading crypto nation 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.”