- Draper is a prominent venture capitalist and a tech billionaire who purchased nearly 30,000 BTC
- Draper, at the start of the year, made a statement when taking a swing at Warren Buffet for his comment over bitcoins
- Draper has moved entirely off from the public stocks to continue his investments in cryptocurrency
Tim Draper, known for his massive investment in bitcoins in 2014, finally revealed his crypto assets. Recently, during an investment conference, Draper stated that his digital asset holding includes Ripple (XRP), Bitcoin Cash (BCH), Tezos (XTZ), and Aragon (ANT). Draper is a prominent venture capitalist and a tech billionaire who purchased nearly 30,000 BTC during the silk route auction by Feds. Since then, he has been an active promoter of cryptocurrencies.
Active Crypto-Investor Since Seven Years
Since his 29,656 Bitcoins purchase from the United States Marshal Services (USMS) for $19 million. Draper is active as a crypto investor for several start-ups and burgeoning projects. He has made multi-million investments, which include investments in giants like US-based Coinbase. His initial investment of BTC has turned into a 1500% profit, valuing its worth to $315 million.
Draper, at the start of the year, made a statement when taking a swing at Warren Buffet for his comment over bitcoins. Buffet said that cryptocurrencies do not have any real value and don’t produce anything. Draper retaliated to this with “Of course he (Warren Buffet) “is worried. He further added that by 2022 bitcoins will rise to the price of $250,000. If Draper holds such optimism and opinion about BTC, it’s highly unlikely that he will sell his holding anytime soon. Because, when and if his predictions will come to action, his holdings worth will rise to $7.5 billion.
Draper on Bitcoin Cash
Tim Draper promoted BCH in a tweet but later it was found that the hackers had hacked his account. Later the tweet was deleted, and OpenNode confirmed that Draper’s account was indeed compromised. But what’s surprising here is the fact that his portfolio does contain BCH holdings.
Draper has moved entirely off from the public stocks to continue his investments in cryptocurrency. Draper believes that adoption is coming, and before it comes, he wants the world to be prepared and get on board when it finally does. He also invested in Tezos ICO in 2017 before the class action was filed against it. His $1 million investment in Aragon, which is an Ethereum based project, has gained him 1 million ANT tokens, which are 2.52% of the total supply.
Draper may make some smart investments and predictions, but billionaires also go wrong at times. One similar time was when Draper commented Ripple (XRP) would explode, similar to BTC.