Tim Draper financed companies such as Hotmail, Skype and Tesla. Today, he has thousands of cryptocurrencies in its digital portfolio. He is the founder of Draper Fisher Jurvetson, a venture capital company in Silicon Valley. The businessman claims to have fallen in love with Bitcoin there for the year 2009.
In February 2014, when Mt. Gox, a cryptocurrency stock in Japan was hacked and collapsed, Draper lost 40,000 bitcoins. It was then that Draper believed that it was the end of the cryptocurrency.
“The price fell between 10 and 20 percent because of the news, but I thought: ‘That’s nothing, it should have gone to zero.'”
Months later, Draper bought 30,000 bitcoins in an auction organized by the Police Chiefs’ Association of the United States. At that time, bitcoin traded at around $ 600. That is to say that Draper paid about 18 million dollars for the block. Today, the value of those bitcoins is 213 million dollars, a jump of 1.083 percent.
From that moment, Draper is a faithful promoter of the cryptocurrency. “It’s a sociological transformation, a movement”, he says.
