Tim Draper, one of the most known Silicon Valley venture capitalists, has played a crucial role in the Draper VC dynasty. Not only because he was an early investor in tech firms like Tesla and Skype but also because he made a turn in the Draper family’s path to Bitcoin (BTC).
In the latest episode of Cointelegraph’s Crypto Stories, Draper tells the story of how the Draper dynasty became bullish on Bitcoin, the broader crypto market and blockchain technology.
The Draper family crypto story started years ago when he grew interested in ways to exchange virtual goods against fiat currency and vice versa.
“I met this great guy from Korea, and he said that he had to buy his son a sword, and it was for the son’s birthday, and it was $40,” Draper reminisced about his early crypto thoughts. The sword turned out to be not a real sword but a virtual one, which made Draper think about virtual stores of value versus traditional money. He said:
“So people are buying virtual goods with fiat currency? And then I thought, ‘Well, maybe there will be fiat currency to buy fiat goods.’”
After Bitcoin came along in 2009, Draper was already looking for something like BTC cryptocurrency, and he started accumulating BTC early. “It was the universal currency, it was the currency for our entire earth,” he said.
Even after losing 40,000 Bitcoin to the collapsed exchange Mt. Gox back in 2011, Draper didn’t lose faith in Satoshi Nakamoto’s cryptocurrency. He continued buying Bitcoin,
Go to Source to See Full Article
Author: Helen Partz
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
