While discussing his altcoin portfolio, Billionaire Tim Draper opined that XRP are very important for the world

By Selena On Sep 24, 2020

Speaking at a recent investment conference, Tim Draper, a prominent venture capitalist, and tech billionaire revealed that his assets include Bitcoin Cash, XRP, Tezos, and Aragon (ANT). Furthermore, his cryptocurrency holdings span at least half a dozen different crypto assets.

Thanks @TimDraper for answering THE question at the @linqtoinc investor conference. #0doubt EVER. pic.twitter.com/AKHAF0cwzT

— Digital Asset Investor (@digitalassetbuy) September 15, 2020

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Billionaire Tim Draper says he owns XRP, calling himself “a believer”

Draper has been an active cryptocurrency investor for seven years, having invested many million dollars in some startups and burgeoning projects, including the Coinbase exchange. In 2019, he announced that he was entirely out of stock in favor of cryptocurrencies. Draper has long been known for altcoins, has confirmed in 2017 that his fund participated in the Tezos ICO after a class-action lawsuit was filed against the project.

Tim Draper, a prominent venture capitalist, and tech billionaire

While discussing his altcoin portfolio, he opined that XRP and other cryptocurrencies are very important for the world.

He stated:

“I’m a believer. I think happening’s – [adoption] adoption coming. It so important for the world, and I want the world to know it, and I want other people in the world to get on board.”

On a Quora forum in October 2019, the billionaire said that he thinks the DLT payments processor Ripple was doing all the right things and is set for explosive growth, leading to much higher prices, adding:

“Looking at the three-time growth of Bitcoin over the last five months, one would expect a similar result from XRP.”

He now expects Bitcoin to be bigger than all of his previous bets combined, eclipsing the internet boom:

“This is bigger than the internet. It’s bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution.”

Earlier this year, he revealed that the Ethereum based project Aragon received a $ 1 million investment from him in return for 1 million ANT tokens, effectively giving him 2, 52% of the total supply of tokens.

His altcoin investments appear to be still shrinking by his BTC holdings. In 2014, he bought 30,000 BTC for $ 632 per coin. This initial BTC investment increased by more than 1,500% to an approximate value of $ 315 million.

Despite his impressive track record of successful investments, Draper has had some blunders as well

Draper’s keen interest in altcoins, however, caught many of his followers off guard earlier this month when he championed rivaling fork Bitcoin Cash and its main cheerleader Roger Ver in a now-deleted tweet earlier this month. Some suggested that he got hacked. Particularly, he was an early investor in the biotech disaster Theranos whose founder Elizabeth Holmes kept defending even after the imposition of her scam.

He said:

“Look, when I’m an investor in a startup, I assume that 60% of them are going to go out of business.”

Bitcoin maximalists, such as Blockstream CEO Adam Back, have compared XRP and some other top altcoins to Theranos in the past.

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