A flashback to 2014 will remind us of when billionaire investor Tim Draper predicted that Bitcoin price will reach $10,000 by the end of 2017. As of today, November 27th. 2017, Bitcoin is sitting at $9,771.
Since 2014, Draper has been one of the most active investors in the cryptocurrency market, alongside Barry Silbert of Digital Currency Group. Within the past three years, Draper has funded both regional and international Bitcoin businesses, including the $1.6 billion Bitcoin brokerage and wallet platform Coinbase, $160 million South Korean cryptocurrency exchange Korbit, and Bitcoin service provider Coinplug. In other words, Draper has been one of the most successful early-stage investors in the Bitcoin and cryptocurrency market.
Draper stated in an interview in 2014: “I’m very excited about Bitcoin and what it can do for the world. Bitcoin is as big a transformation to the finance and commerce industry as the internet was for information and communications. If Bitcoin were here in 2008, it would be a stable source for our world economy. Everybody should go out there and buy a Bitcoin. Every investor who’s a fiduciary should at least be partially involved in Bitcoin because it’s a hedge against all the other currencies. There’s a whole ecosystem being built that’s going to make commerce much easier with much less friction.”
Draper has secured a $120 million profit from his bulk purchase of 30,000 Bitcoins in 2014.
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