Billionaire Tim Draper on XRP: “It’s happening, it’s coming”
Tim Draper recently revealed that he owns XRP, the fourth largest cryptocurrency in the world by market capitalization, affiliated with San Francisco-based company Ripple at the virtual investment conference Linqto.
When discussing his altcoin portfolio, he said that XRP and other cryptocurrencies are very important to the world:
“I am a believer. I think it’s happening, it’s coming. It is so important to the world, and I want the world to know that and I want other people in the world to participate. “
Draper’s Favorite Altcoins
In addition to XRP, Draper also mentioned that it has Bitcoin Cash (BCH), Tezos (XTZ) and Aragon (ANT) in its cryptocurrency portfolio.
The legendary venture capitalist, who made his fortune because of his first investments in Tesla, Skype and Hotmail, first entered the crypto universe in 2014 by winning 30,000 BTC in a 2014 auction for the U.S. Marshals Service.
He now expects Bitcoin to be higher than all of his previous combined bets, eclipsing the internet boom:
“This is bigger than the internet. It is bigger than the Iron Age, the Renaissance. It is bigger than the Industrial Revolution. “
Draper’s keen interest in altcoins, however, caught many of his followers off guard earlier this month when he defended Bitcoin Cash and its main cheerleader Roger Ver in a tweet earlier this month. Some believe he was hacked, the tweet is no longer available.
Comparisons with Theranos
Despite his impressive track record of successful investments, Draper also made some mistakes.
In particular, he was one of the first investors in the biotechnological disaster, Theranos, whose founder Elizabeth Holmes he continued to defend, even after your blow.
“Look, when I’m an investor in a startup, I assume that 60% of them are going to close.”
Bitcoin maximalists, like Blockstream CEO Adam Back, compared XRP and some other important altcoins to Theranos in the past.