It’s not easy to be a bull in a declining market, but after almost a year of carnage in the crypto sector, bitcoin bull Tim Draper is sticking to his fiercely bullish upside calls. Of course nobody likes to be laughed at, but Tim has a stellar track record, has made tons of money and is eager to laugh at anybody that doubts him…….like in about 15 years. Read some more about Mr. Super Bull.
(Bill Taylor/ Fintek Capital)
“Bitcoin bull Tim Draper has predicted that the market capitalization of cryptocurrencies will increase by four hundred times in the coming one and a half decades.
Equating the current state of the crypto market to the early days of the internet, Draper, however, warned that the prices of bitcoin and other cryptocurrencies will first have to drop before rising. The billionaire tech investor was addressing a DEALSTREETASIA-sponsored private equity and venture capital summit in Singapore via video link.
“The internet started in the same way, it came in big waves and then it kind of came crashing down, and then the next wave comes concentrated but much bigger, and I suspect the same thing will go on here,” said Draper.
According to Deal Street Asia, Draper also stated that the reason why the price of bitcoin and other cryptocurrencies had fallen drastically since the record highs reached last year was due to ignorance…
…The internet went after industries that were $10-100 billion dollar markets, cryptocurrency will go after trillion dollar markets – these are finance, healthcare and insurance, banking and investment banking, and governments.”…