Tim Draper on bitcoin: «Why change the future for the past?»

One of the most intriguing features of Cryptoprotected is that it attracts the most diverse and often very unique personalities. Here you can meet with everyone from the brokers on wall Street to cyberpunks, from Industrialists to anarchists. In a recent interview with Bloomberg venture capitalist Tim Draper has made several memorable statements.

To invest in the future, not the past

«I think that Bitcoin is the currency of the future,» said Tim Draper last Thursday. While usually optimistic interview to the entrepreneur, whose fortune is estimated at one billion dollars, Bitcoin spoke about a lot of good.

«People ask me: «are you Going to sell your bitcoins (with Fiat), and I say, «Why do I need to exchange the future for the past?». This statement complements the previous word Draper, when he said, «I don’t understand why everyone wants to go back to Fiat if bitcoin is a distributed, secure and versatile, while the Fiats subject to the vagaries of political forces».

No matter what the status of bitcoin as pure currency not yet been determined, he and other scriptactive create a new storage means and transfer of money, representing a real alternative to the established position. Like most invested in cryptocurrency tycoons (for instance, Michael Novogratz and brothers Winklevosses), in all that relates to bitcoin, Draper retains the bullish approach. 59-year-old billionaire built his fortune on Draper Fisher Jurvetson — venture capital firms, famous for the billions of dollars in investments in startups.

Fortune favors the brave

After more than 30 years after Draper founded his company, now operating with assets of $ 5 billion, he decided to become a cryptocurrency entrepreneur. Party latest list of cryptomelane Forbes, a major fraction of their wealth in bitcoin Draper created, bought auctioned bitcoins Silk Road in 2014. He was lucky that he had the capital and the opportunity to purchase 32 000 BTC, the cost of which now amounts to nearly $ 300 million.

However, despite the success that brought Draper cryptocurrency, business entrepreneur don’t always go smoothly. Being a big fan of cryptocurrencies Tezos, he was forced to go on the defensive because of the huge number of lawsuits associated with this digital currency. One of the main bones of contention in the case Tezos has become vastly improved since then, the price of bitcoin. This played into the hands of Tezos, but does not help investors, at her last year with their bitcoins in anticipation of tokens XTZ.

Speaking about bitcoin’s volatility, Draper’s emphasis on confidence in the cryptocurrency, saying: «My bitcoin is more secure than dollars in a Bank…. My bitcoins are very secure.» Unlike some entrepreneurs (in particular, Steve Wozniak), claiming that confusion in the cryptocurrency markets are not for them, Tim Draper gets the pleasure and not fleeced «to exchange future in the past».

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