Venture investor Tim Draper: «cryptocurrencies will conquer the world»

Well-known venture capitalist Tim Draper (Tim Draper) believes that bitcoin and cryptocurrencies will eventually dominate the world.

Tim Draper was one of the few venture capitalists who firmly believe in the bitcoin and cryptocurrency before they became popular. According to a recent article
in Forbes, Tim Draper first thought about the virtual currency 15 years ago, when he was in South Korea. In 2014, the California investor bought 32 000 BTC, worth about $ 20 million at auction the U.S. marshals. The coins were withdrawn with the famous darknet market Silk Road, which was closed by law enforcement agencies in October 2013. The Forbes article Draper said:

«I believe that bitcoin and other cryptocurrencies will participate in larger part of world trade. I don’t understand why someone would want to go back to Vietnam currencies when cryptocurrencies are decentralized, safe and have no borders, while traditional currencies are subject to the whims of politicians.»

At the peak of bitcoin prices the total value of the coins Draper was estimated at $ 600 million. Tim Draper is not the first time declares his strong faith in bitcoin and cryptocurrency in General. The article CNBC he said that in the near future crypto-currencies will replace traditional currencies in trade. Draper said:

«Five years from now, when you go to Starbucks or McDonald’s and try to buy a hamburger or coffee for Fiat currency, the seller will laugh in your face.»

However, he showed more caution than John McAfee, and promised to eat part of his body, if the forecast comes true.

According to various sources, Draper has invested in 40 different cryptocurrencies. He also invested in ICO Tezos, who managed to collect more than $ 230 million. Currently, the project has faced
with the collective claim, but an experienced investor is not worried about it.

«I remain passionate about creativity that the ICO brings to society and to the progress that can reach these entrepreneurs. However, teams should carefully plan how to manage the expectations of people in the case that the token will be popular.»

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