Early Coinbase investor compares the exchange to Google for the crypto economy

Ron Conway, one of Coinbase’s earliest investors, regards the crypto economy as the next multi-million-dollar opportunity in innovation, and the exchange as an industry leader. He said this in an interview with CNBC.

“I absolutely believe that Coinbase is Google for the crypto economy and opens this enormous opportunity for consumers,” he said.

According to him, the industry is growing rapidly, but still in its infancy.

Conway believes that the exchange leads by focusing on cryptocurrencies and not tying them to other lines of business. He also noted that Coinbase has built a strong brand.

The investor emphasised that the United States should strive for leadership in the crypto economy, especially to reflect competition from China.

“In this trillion-dollar industry, millions of jobs will be created, and we want them to be created in the United States,” Conway concluded.

As noted, Coinbase’s Nasdaq listing took place on April 14. The company’s market capitalization at close was about $85.7 billion.

According to Forbes, the $300,000 invested in Coinbase in 2012 by angel investor Harry Tan turned into $565 million after the listing . Tan himself previously called a much larger amount — $2.4 billion.