Thursday, November 26, 2020
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Is Billionaire Tim Draper A Ripple Investor?

American venture capital investor Tim Draper in a recent statement mentioned the few cryptocurrencies which he has investments in, stating that he is a believer in digital assets like XRP, Tezos, Aragon, and a host of other cryptocurrencies.

Tim Draper made the assertion during a crypto investor conference staged by Linqto, a private investment firm. However, it seems quite unclear if Draper is an owner or shareholder of Ripple.

Draper is known for his strong belief in Bitcoin, and his expectation of the cryptocurrency asset in the future. However, Draper was asked about his holdings in other cryptocurrencies aside from Bitcoin during the online conference.

The interviewer put it straight to Draper if he has investments in Ripple or XRP, or both projects. Before answering the question, the hexagenerian billionaire who is the founder of Draper Fisher Jurvetson, Draper University, and Draper Venture Network made a clarification on the distinction between XRP and Ripple.

He explained that XRP is the native token of Ripple.

Responding to whether he has an investment in either of the two projects or both, Time Draper said: “Yes I’m an owner of Ripple.” He further said “oh XRP,” indicating that he’s likely trying to make a correction. It seems Draper intended stating that he’s an owner of XRP rather than Ripple, but there was no other statement that clarifies this.

He added that he’s an owner of Bitcoin, Bitcoin Cash, Tezos, Aragon. Draper said he a believer in cryptocurrency at large.

The venture capitalist estimated to be worth US$1 billion averred he wants people around the world to get involved in cryptocurrency as the world continues to evolve.

It is believed that Draper has nothing less than 30,000 BTC, due to the auction he won from the U.S. authorities when Bitcoins from famous darknet platform were sold out.

In late 2019, Tim Draper opined that Bitcoin has the capacity of rising to around $250,000 six months after the halving event which recently happened in May 2020.

Then, he explained that Bitcoin price will upsurge due to the massive adoption the digital asset class would get from people across the world.

This was at a time Bitcoin was priced around $7,500 per unit. This year, following the halving event, Bitcoin has risen to around $12,300 before plunging back to the $10,000 zone where it remains at present.

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