As of late, it has been revealed that the National Aeronautics and Space Administration (NASA) has invested an undisclosed amount in Coinbase, through its VC arm.
This is not the first time that a government agency has invested in a cryptocurrency company. In fact, the US Department of Energy’s ARPA-E arm has also invested in an energy-focused blockchain startup.
However, NASA’s investment in Coinbase is significant because it shows that even a conservative government agency like NASA is open to the idea of investing in cryptocurrency and blockchain technology.
This is a positive development for the cryptocurrency industry as it shows that there is interest from even the most traditional of institutions.
What’s more, it is likely that other government agencies will follow suit and invest in cryptocurrency companies as well. This could help to legitimize the industry and attract even more mainstream adoption.
So far, there is no word on how much NASA invested in Coinbase. However, given the size of Coinbase and its recent valuation of $8 billion, it is likely that the investment was not a small one.
Only time will tell how this latest development will play out but it is certainly positive news for the cryptocurrency industry as a whole.