April 21, 2024

Tim Draper sells shares to invest in bitcoin

According to venture capitalist and cryptocurrency enthusiast Tim Draper, most of his portfolio is nowis in bitcoins.

In an interview on CNBC, Draper emphasized that last year he significantly increased the share of investments in bitcoin. He stated that he continues to believe in the prospects for the first cryptocurrency.

“I just believe it. I just say that this asset is the best. In the long run, people invest in better assets, ”said the billionaire.

Draper said that the outbreak of coronavirusin China led to the fall of stock markets around the world. However, he sold part of his shares on time, as last year he realized that the shares are now in the overbought zone.

Recently, the most famous investor in the world WarrenBuffett met with TRON founder Justin Sun and, as Buffett said, this meeting did not affect his skepticism about crypto assets. Draper believes that the shares of banks and insurance companies may decline significantly during the crisis, but investments in bitcoin will bring profit.

It was recently reported that Tim Draper acquired 1 million ANT tokens worth about $ 823,000 - this is the number of tokens needed to have a say in managing the Aragon project.