Tim Draper: Cryptocurrencies and Bitcoin Will Take Over the World

Famous venture capitalist Tim Draper believes cryptocurrencies and Bitcoin will eventually take over the world.

Betting on Bitcoin

Tim Draper, He was one of the few venture capitalists who believed strongly in Bitcoin and cryptocurrencies before it went mainstream.. According to a recent Forbes article, Tim Draper first thought of digital currencies 15 years ago when he was in South Korea.. The California-based investor was featured on several news sites in 2014 when he purchased 3200 Bitcoins worth about $20 million at an auction held by the U.S. Marshals service.. The Bitcoins he bought were seized by the famous Silk Road darknet market.

He voiced his thoughts in the Forbes article:

“Bitcoin and cryptocurrencies We believe it will be used in much of the world’s commerce.” .I don’t know why people would still want to go back to fiat.” >

Cryptocurrencies Will Replace Legal Currencies

Tim Draper has previously expressed his strong belief in Bitcoin and cryptocurrencies. In his CNBC article, he stated that cryptocurrencies will replace fiat currencies in commerce in the near future and said: If you try to get a burger or coffee, the person at the counter will laugh at you”.

Reports suggest that Draper has invested in 40 different cryptocurrency exchanges. It also invested more than $230 million in the Tezos ICO. The veteran investor, who was not worried despite a class action lawsuit against the project, explains:

“ICO I’m still enthusiastic about the creativity and entrepreneurship that the ‘s have brought to society. But teams need to plan carefully to manage people’s expectations if the token becomes popular.”

A Bloomberg report, he also stated regarding the Tezos ICO: