Tim Draper on Bitcoin: “Why Would I Sell the Future for the Past?”

One of the most intriguing things about the cryptocurrency space is the diverse, eclectic, and often eccentric characters it attracts. Everyone from Wall Street brokers to cypherpunks and from industrialists to anarchists can be found staking their claim in the fledgling crypto economy and saying their piece. In a recent interview, venture capitalist Tim Draper was on fine form, producing a number of memorable quotes which encapsulate the bullish mood permeating the cryptoverse once more.

Hodling the Future in Place of the Past

“I think bitcoin is the future currency,” opined Tim Draper on Thursday. In a typically upbeat interview, the entrepreneur, whose net worth has been placed at $1 billion, had a lot of nice things to say about bitcoin. In the most quoted segment of his Bloomberg interview, Draper reasoned, ““People ask me, ‘Are you going to sell your bitcoin [for fiat]?’ and I say, ‘Why would I sell the future for the past?’” This augments previous remarks when Draper was quoted as saying: “I don’t know why anyone would want to go back to fiat when crypto is distributed, secure and global, while fiat is subject to the whims of political forces”.

While bitcoin’s status as a pure currency is a matter of some debate, it and the crypto assets it shares a space with are forming a new class of wealth storage and money transfer that offers a viable alternative to the status quo. Like most business moguls who are heavily invested in crypto – Michael Novogratz; the Winklevoss twins – Draper is very bullish about where bitcoin is going. The 59-year-old made his money at Draper Fisher Jurvetson, the venture capital firm famed for its investment in billion-dollar startups.

Fortune Favors the Brave

More than 30 years since Draper founded his company, which oversees assets of $5 billion, he’s reinvented himself as a crypto entrepreneur willing to put his money where his mouth is…

Read Full: Tim Draper on Bitcoin: “Why Would I Sell the Future for the Past?”