Cryptocurrencies Will Take The World: Tim Draper From Silicon Valley
Tim Draper, who is a famous venture capitalist from Silicon Valley, has became a Bitcoin enthusiast from the start of its launching. He started to show interest in virtual currencies 15 years ago meeting a guy in South Korea, who had bought a virtual sword for his son with regular cash. Draper started looking for ways to convert one game currency to another, as currencies proliferated in videogames.
Draper was in the business at the moment he heard about Bitcoin. He invested $250,000 with a price of $6. But he lost his investments after Mt. Gox incident in 2014, but Draper wasn’t scared off. In the same year, he is reported to have paid less than $20 million for nearly 32,000 Bitcoin auctioned by the U.S. Marshalls Service — coins that had been confiscated from Ross Ulbricht and his online black marketplace, Silk Road. Since that time Draper has made about 40 crypto-investments.
Draper says:
“I don’t know why anyone would want to go back to fiat when crypto is distributed, secure and global, while fiat is subject to the whims of political forces. I believe that Bitcoin and crypto will drive most of the commerce of the world.”
