“We’re looking for a crypto that’s going to be a movement,” says legendary bitcoin and cryptocurrency industry investor Tim Draper. Bitsonline caught up with Draper right after his appearance at Crypto Invest Summit in Los Angeles last week, to talk about why he still thinks bitcoin will still be one of the most-used and most-valuable digital assets amid growing competition.
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In addition to his multiple Bitcoin company and ICO investments, Draper is famous for winning the “Silk Road auction” of 30,000 BTC in 2014, the first time a government agency publicly participated in a cryptocurrency transaction in exchange for dollars.
We asked Draper if, in hindsight, it was a good deal. The answer isn’t as simple as you’d think, but it did prove he was willing to (literally) put large amounts of money where his mouth was. Even though it proved a profitable move later, that was far from certain at the time — and Draper is convinced it will be even more rewarding in the coming years. Where does he think bitcoin will be four years from now, and why?
If you’re starting a business, he says, you should be aware that it’s a new world of blockchain, A.I., big data and smart contracts — these technologies are going to transform multiple industries, including government (“the largest industry”) itself. Investors should see their contribution as long-term and transformative, rather than just an opportunity to make quick gains.
To hear all Draper’s views and predictions, watch the full interview above.
Do you agree with Tim Draper’s opinions and predictions for crypto? Let’s hear your thoughts in the comments.
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Bitsonline is an official media partner for Crypto Invest Summit LA 2018.