Cryptocurrency billionaire Tim Draper says in a new interview that Bitcoin is still on the rise as usual.
Did Tim Draper sell his Bitcoins?
Tim Draper is an early investor in early tech companies like Hotmail, Skype, Tesla and even Theranos. In an exclusive interview with Protos, he said that he never sold his Bitcoins. Instead, it still continues to buy.
Draper bought 30,000 Bitcoins seized by the police from Silk Road, which was auctioned by the US government in 2014 for a total of $17 million. Tezos and the Coinbase investor firmly believe that Bitcoin will replace the US dollar to become the world’s main global currency.
Famous billionaire says the future is Bitcoin
Draper says fiat currencies are a thing of the past. As more people buy Bitcoin than he thinks, we will eventually use BTC for individual payments. However, Bitcoin has many competitors such as CBDCs, other cryptocurrencies, PayPal and Visa. Draper explains why he is so confident about Bitcoin:
CBDCs are a bridge to Bitcoin. They are gradually bringing people to the use of cryptocurrencies. Other cryptocurrencies (with the exception of a few like Tezos) are centralized and the consumer is again at the mercy of a centralized power. Individuals are smarter to let this happen.
Now investing in cryptocurrencies other than Bitcoin?
Draper answered this question in an interview with Entrepreneur India at the beginning of September. In Web3, he talked about the segments he and his team look at when making investment decisions:
We look at all kinds of things. We’re looking at new fun on the Metaverse, we’re looking at ways people can do it. We have new companies with jobs and new marketplaces in the Metaverse. There are a lot of interesting things we’re looking at. The investments we make tend to be more fundamental… We love NFTs and look to NFTs for things beyond the art world. NFTs can be long-term, like medical records or a driver’s license.
The crypto billionaire is a follower of the Web3, metaverse and NFT market, as well as the DeFi sector, which is managed by first-layer Blockchains. Apart from this, it continues its investors in the field of health.
As you follow on Kriptokoin.com, Tezos (XTZ) is one of the altcoin projects mentioned by Tim Draper. Apart from that, according to the famous billionaire, the backbone of the market will always be Bitcoin. In his most recent interview with Protos, he shared his thoughts on some of the concerns about BTC. Those who currently hold most of the supply have great power over the market. However, Draper says the market will always stabilize:
Markets tend to stabilize over time. Extremes in an industry tend to be on the first hit. We are in the first phase. No one should borrow more than they can pay back, but of course it does.
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