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While this week Elon Musk seeks supporters for his proposal to take Tesla private – an agreement for which Tesla's CEO tweeted to have "secured funding" – an investor is offering a solution: cryptocurrency.
Haydar Haba invests in private technology companies through its Andra Capital fund, which is about to raise $ 1 billion in a symbolic sale of its so-called Silicon Valley Coin. The cryptocurrency will represent a shareholding in the 20-30 startups with risk capital, from Silicon Valley to China, in Haba's portfolio, chosen for their growth potential and the probability of becoming public in the coming years.
While Tesla, which currently has a public trading stock, does not meet Andra Capital's criteria for companies backed by VC, Haba hopes that Musk will follow a similar path.
"I adore Tesla, I love Elon Musk, and I think he should consider blockchain and tokenization of assets," Haba said this week on Fortune's "Balancing the Ledger" show. "We would call it Tesla's coin."
If Musk takes Haba's advice, he could become a pioneer for a new way of investing in the stock market using digital tokens instead of traditional stocks, which many financial companies are already exploring.
"From my point of view, in 20 years, public and private will go away, and we will only have a high quality tokenised offer," added Haba. "These are the growth coins of the future."
Cryptocurrency, based on a blockchain that acts as a permanent ledger of transactions, offers investors many benefits that traditional actions do not have, he continued. For example, when Haba owned a private company, it would take "90 days and $ 30,000" just to transfer his shares to someone else.
"Now we can do it on the blockchain in seconds, between global investors," Haba said. "This is far better than anything else out there."
In addition, he added, token company shares have some advantages that other cryptocurrencies do not have. "These are not coins backed by scarcities like Bitcoin," he said. "These are supported by real growth resources."
