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.Trade now
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
In accordance with European Securities and Markets Authority’s (ESMA) requirements, binary and digital options trading is only available to clients categorized as professional clients.
GENERAL RISK WARNING
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
76% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.