{"id":64096,"date":"2017-11-13T16:00:33","date_gmt":"2017-11-13T15:00:33","guid":{"rendered":"https:\/\/wncen.com\/?p=64096"},"modified":"2024-06-11T07:42:38","modified_gmt":"2024-06-11T07:42:38","slug":"tim-draper-greatest-technology-since-internet","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/tim-draper-greatest-technology-since-internet\/","title":{"rendered":"Tim Draper: \u201cThis is the greatest technology since internet\u2019\u2019"},"content":{"rendered":"
Tim Draper has never been shy about his bullishness for Bitcoin. Last month, he expressed in no uncertain terms his believe that BTC was better than fiat currency and back in 2014, he made a then outlandish price prediction<\/a> for a $10,000 Bitcoin in the next three years.\u00a0 At a tech conference last week, he reaffirmed his stance on cryptocurrency, reiterating how important a technology he deems it.<\/p>\n Draper spoke to a reporter from Bloomberg <\/a>at WebSummit <\/a>– a technology conference taking place in Lisbon, Portugal. There he was harangued by representatives of eager startups planning to launch ICOs. Between endless pitches, he found time to chat about the history of his involvement in the space and where he sees it heading.<\/p>\n Draper was a big loser in the 2014 Mt. Gox bankruptcy<\/a>. His stash of 40,000 Bitcoins were embezzled like those of many others. However, seeing that the incident didn’t completely destroy the cryptocurrency encouraged him:<\/p>\n The price fell 10 to 20 percent on the news but I thought, \u2018That\u2019s nothing, it should have gone to zero.<\/p><\/blockquote>\n Rather than exiting the space and licking his wounds, the venture capitalist felt compelled to take out another position. He managed to secure an additional 30,000 BTC during the auction conducted by the US Marshals Service<\/a> following the Silk Road closure and the subsequent seizure of the darknet marketplace’s Bitcoin. The purchase cost him $18 million back in 2014. Today, their value is over $200 million – not a bad investment by any means. Since then, Draper has been a firm believer in the technology. He goes as far as to say:<\/p>\n This is the greatest technology since the internet.<\/p><\/blockquote>\n