Tim Draper bets on crypto-currencies[↻60%]
Tim Draper bets on crypto-currencies
The supporter bitcoin Tim Draper is convinced that soon in the financial sector will dominate crypto-currencies.
The venture capitalist from Silicon Valley believes in bitcoin since its appearance in 2009. He believes that # bitcoin and crypto-currencies will become the engine of world trade.
Once, Draper said that in a short time # crypto currency will replace the currency of the currency.
"In five years, if you go to Starbucks or McDonald's and try to buy a hamburger or coffee for a currency, the cashier will laugh at you."
His initial investment in bitcoin was $ 250,000, then bitcoin was estimated at only $ 6. However, due to the hacking of the large Japanese crypto exchange Mt.Gox in 2014, he suffered losses.
However, the losses did not affect Draper's long-term plans, and a few months after the stock exchange drama, a well-known venture capitalist bought 30,000 bitokoyans at an auction of US marshals. These bitkoyny were seized in the raid on the shadow online store Silk Road. He paid about $ 18 million, at that time one bitkoyn cost $ 600.
Crypto space is an inexorable market where someone gets huge profits, and someone loses everything. But for those who initially understood the idea of Satoshi, the profit considerably exceeds losses.
DFJ Venture Capital, where Draper works with Steve Jurveson and John H.N. Fisher, invested in such innovative companies as Skype, Hotmail and Tesla Inc. And although the company did not often sponsor the initial offer of coins (ICO), Draper's opinion is considered expert.
"I do not know if someone will want to return to fiat if cryptography is widespread, safe and global, because fiat is subject to the whims of political forces."
His investments go beyond bitcoin, he also invested in more than 40 different altkoins, further inspiring confidence in the growth and future of crypto space.
