Tim Draper, a prominent venture capitalist and tech billionaire has divulged some secrets about his altcoins holdings. Draper is a renowned crypto bull who made news back in 2014 for winning the US Marshals Bitcoin auction. The 30,000 Bitcoins that Draper won had belonged to an online marketplace known as Silk Road, and were placed in auction.
Draper has come forward again to reveal that his digital currency holdings are not limited to BTC, but span at least half a dozen different crypto assets. He made this statement at a recent investment conference saying that his holdings include altcoins such as Bitcoin Cash (BCH), Ripple (XRP), Tezos (XTZ), and Aragon (ANT).
Draper also stated that crypto adoption was already happening and that it was very important for the world. Therefore, he would like other people around the world to get on board and reap the benefits associated with crypto.
These positive comments from the venture capitalist are coming only three weeks after his Twitter account appeared to have been hacked to promote Bitcoin Cash. Reports from his team however, said that Draper deleted this tweet as soon as he learnt of its existence, showing that he was not aware of it to begin with.
Draper is not new to the crypto space, as he has been an active investor for seven years. He has made multi-million investments into different startups and projects in the space. One of the most popular investments is that of Coinbase, a major U.S crypto exchange. Additionally, Draper made an announcement stating his shift from stock in favour of cryptocurrency.
In 2017 after the Tezos project received a class-action lawsuit, Draper confirmed that his fund had participated in the Tezos ICO, which raised $232 million.
The billionaire is not shy to offer his thoughts and predictions of the altcoin market. For instance, in october 2019, he said in a Quora forum that he thought the DLT payments processor Ripple was doing all the right things,and was set for explosive growth.
He also claimed earlier this year that he gave Ethereum-based project Aragon a $1 million investment in return for 1 million of their tokens (ANT). this investment therefore gave him a 2.52% of the tokens total supply.
Although he has a diverse altcoin portfolio, it is dwarfed by his huge BTC holdings. The 2014 purchase, which was made at $632 per coin has now increased over 1,500% to an approximated value of $314 million.
It is unlikely for the billionaire to his BTC holdings as he confirmed his 2018 prediction earlier this year, that BTC would surge past $250,000 within the next two years. Such utterances are from someone confident in his investment and hodling decisions. If his prediction were to come true, his BTC holdings would have a value of $7.5 billion!
Image courtesy of Flickr
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