Tim Draper is a well-known venture capitalist and tech billionaire. He purchased nearly 30,000 Bitcoins that were seized from the Silk Road. Moreover, he holds multiple cryptocurrencies in his digital wallet spanning all the way back.
Speaking at a recent high-end investors conference, Draper said that his holdings include Bitcoin Cash (BCH), Tezos (XTZ), Ripple (XRP), and Aragon (ANT), adding:
“I’m a believer. I think it’s happening – [adoption] it’s coming. It’s so important for the world, and I want the world to know it, and I want other people in the world to get on board.”
Draper’s comments come barely three weeks after his Twitter account appeared to be subject to a hack.
The suspicious tweet announced that the VC had purchased BCH. And, thanking an impersonating Roger Ver for providing “this innovation”.
Yet, the fact that he holds Bitcoin Cash casts a new light on this incident.
Draper has been an active crypto investor for seven years. Thus, making multi-million investments into several startups and burgeoning projects. In 2019 he announced that by 2020 all his retirement funds will be in cryptocurrency rather than stocks from public companies.
Draper’s history of dabbling in altcoins is well known. And, he confirmed that his fund participated in the Tezos ICO after a class-action lawsuit was filed against it.
Cryptocurrency has been on a wild ride in the last few months. Besides, one thing that has not changed is how loved it remains by those who invest and trade. If you are looking to buy your first coins or get into trading right now, you should think of ripple. Tim Draper thinks Ripple could be doing all the right things. Setting it up strategically for growth. Hence, leading towards much higher prices down the line. He said:
“Looking at the three-time growth of Bitcoin over the last 5 months, one would expect a similar result from XRP.”
Tim Draper also Invests in Aragon’s ANT Tokens
This month, founder Aragon announced that they have received a $1 million investment. The investment came from Draper in return for 1M ANT tokens. This means he got 2.52% of the total supply and will be able to help guide their future projects. Also, he will take part financially in other stages like pre-sale.
Yet, his altcoin investments still appear to dominate his BTC holdings. In 2014, he purchased 30K Bitcoins at a price of $632 per coin. Yet, this initial investment has increased over 1,500% – now totaling an estimated value of more than $315 million!
Draper is also unlikely to sell anytime soon, as he reconfirmed his 2018 prediction that the coin will rise past $250,000 within two years. If this occurs, Draper will hold Bitcoin at a value of $7.5 billion. This will make the crypto-savvy investor one of America’s wealthiest individuals!