Early Coinbase Investor Negotiates Buying Bitcoin in 2011

In short

  • Early Bitcoin investor Liron Shapira discussed his introduction to the cryptosphere with Anthony Pompliano.
  • Shapira noted that Bitcoin was a “sleeper hit” back in 2011.
  • In 2012, the entrepreneur “by coincidence” invested in Coinbase – a company that could be priced around $ 28 billion after its IPO.

Liron Shapira, CEO of Hero Relationship training website and an early investor Bitcoin a Coinbase, he said that his introduction to the cryptosphere was a combination of luck, opportunity, and his personal investment thesis.

During the latest episode of The Pomp Podcast hosted by Morgan Creek Digital Assets co-founder Anthony Pompliano, Shapira noted he was “obsessed” with Bitcoin in 2011, calling the crypto a “sleep hit.”

“I think YCombinator and Bitcoin were sleeping hits back in 2011. So where did I get the thesis?… I’m always looking for the 10% probability and back in 2011, Bitcoin, there was a chance of 90% it was just gonna fizzle out, right? “Said Shapira, adding,” But I noticed right, well, at the 10% chance that it doesn’t fizzle out, couldn’t it just go 10x or 100x or 1000x? “

Speaking of this thesis, Pompliano raised Shapira’s tweet from 2011, possibly one of the earliest bullish sentiments towards Bitcoin.

“My investment thesis: Buying into a 10% probability of 100x returns. Examples: (1) BitCoin (2) Milner & Conway’s ‘Start Fund’, ”Shapira tweeted on June 12, 2011.

Coinbase is moving towards an IPO

As for his early investment in Coinbase, Shapira revealed that it was mostly just luck as he did not specifically intend to invest in the exchange. “Random in 2012,” when he was at the height of his “Bitcoin obsession,” Shapira invested part of his disposable income through a company called Founders Club.

“So just by coincidence, I ended up giving a check to the Founders Club’s first fund where they had a few options of companies to choose from. And I was like ‘oh yes, Coinbase. I like Bitcoin ‘, “Shapira explained, adding,” So a lot of luck in Silicon Valley, because it’s in the right place at the right time, happens to like Bitcoin. “

Shapira then “forgot” about it for a few years, “and now they are like the next potential [YCombinator] IPO. ”

“My thesis there was just like, look, I think Bitcoin is a big deal, and I think Coinbase is doing a really good job, and just being the best Bitcoin company,” he added.

Like Decrypt reported, Coinbase cryptocurrency exchange recently publish its plans to become a public company, with experts suggesting that the platform it could be priced at around $ 28 billion as a result. That’s one lucky early investment indeed.