Tim Draper, a well-known venture capitalist and technology billionaire who bought nearly 30,000 bitcoins (BTC) seized from Silk Road, revealed that his cryptocurrencies span at least half a dozen different cryptocurrencies.

At a recent investment conference, Draper revealed that his assets include Bitcoin Cash (BCH), Ripple (XRP), Tezos (XTZ) and Aragon (ANT), adding:

“I am a believer. I think this is happening – [adoption] is coming. This is very important for the world, and I want the world to know about it, and I want others in the world to join it. ”
Draper’s comments came just three weeks after his Twitter account was hacked to promote BCH. A suspicious tweet stated that VC had acquired BCH, and expressed gratitude to the fake Roger Ver account that constitutes “innovation”.

But the fact that he already owns Bitcoin Cash sheds new light on the incident.

Draper has been an active cryptocurrency investor for seven years, investing millions of dollars in many start-ups and fast-growing companies, including the US digital currency exchange Coinbase. In 2019, he announced that he had completely lost his public capital in favor of the cryptocurrency.

It has long been known that Draper works with altcoins, and confirmed in 2017 that his fund was involved in Tezo’s ICO after filing a lawsuit against the project.

At the Quora Forum in October 2019, the billionaire said that he thought Ripple’s DLT payment processor did everything right and ready for “massive growth”, and increased prices and added:

“Given that Bitcoin has tripled in the last five months, we can expect a similar result from XRP.”
It just shows that even billionaires can not predict prices.

Earlier this year, he revealed that Ethereum-based company Aragon Venture (ETH) received $ 1 million in investment from him for 1 million ANT tokens, effectively giving it 2.52% of the total token supply.

His investments in altcoins continue to exceed his BTC reserves. In 2014, he bought 30,000 BTC for $ 632 per coin. This initial investment in BTC increased more than 1500% to an estimated value of $ 315 million.

It is also unlikely that Draper will be sold at any time, as he confirmed earlier this year that he had predicted in 2018 that the coin would rise to $ 250,000 over the next two years. If that happens, his Bitcoin stake will be worth $ 7.5 billion.

Source: CoinTelegraph

LEAVE A REPLY