Venture capital investor, billionaire Tim Draper, earned $ 89.1 million in investing in Bitcoin in less than five years, as reported by the CCN news agency.
In 2014, Tim Draper purchased 30,000 BTC at auction in the USA. He bought most of the participating investors by paying $ 632 for one Bitcoin. In general, the amount spent by Tim Draper at the auction is $ 18.96 million.
Tim Draper: the story of a cryptocurrency billionaire
Today, despite the 80% drop in the price of "digital gold", the investor’s profit was $ 89.1 million. That is, the total value of its crypto-assets, bought back in 2014, is 108 million US dollars.
"Bitcoin’s long-term perspective is to contribute to global economic "emancipation". The potential of Bitcoin is limited only by the fantasies of entrepreneurs who are working to create this new virtual economy." – Tim Draper.
The billionaire told about his profitable investment on Twitter and announced that he is not going to withdraw money from the virtual sphere to fiat. This is since the investor is confident that the price of cryptocurrency will soon increase.
"I have experienced the ups and downs of Bitcoin, and I am still confident that the Bitcoin revolution is coming" – Twitter, Tim Draper.
Cryptocurrencies and Bitcoin: market recovery
According to forecasts of Shark Tank, the famous South African host and Civic CEO Vinny Lingham , the cryptocurrency market will not recover soon.
According to Vinny Lingham, the rise in the price of crypto-assets in 2017 was apparently provoked by the actions of retail traders and individual investors. Today, when prices have fallen (and many have lost invested capital), it takes several years to recover. This is connected not only with the financial and economic part (legislation and state regulators), but also with psychological aspects.
"Of course, the cryptocurrency market will recover, but most likely, only when the disappointment of the recent fall disappears from the memory of large investors (...) Do not underestimate the power of psychology in free markets" – Civic CEO Vinny Lingham.
According to V. Lingham, investors like Tim Draper (who have invested a small part of their personal capital) can easily maintain a positive attitude. But this cannot be said about those who invested in the crypto all the money.
Investor Tim Draper received $ 89 million by investing in Bitcoin. Recall that many investors are still actively investing in the purchase of cryptocurrency. Among them are many big "buyers", for example, Mike Novogratz and Peter Thiel.
Editor: Yulia Krasnaya