Silicon Valley investor: Bitcoin will reach $250,000 by 2025

Source: W3C DAO

January 2024 On the 30th, Silicon Valley investor Tim Draper reiterated his confidence in Bitcoin in an interview with Bloomberg, still insisting that Bitcoin will reach $250,000 in 2025.

Draper believes that Bitcoin is increasingly popular in countries with unstable currencies. Welcome, people love to transact with Bitcoin in these countries.

Draper said: "One day I can use Bitcoin to buy food, clothing and shelter, and people will no longer need U.S. dollars."

He predicted that Bitcoin will Become a dominant player in the financial system, especially in the areas of decentralized finance and non-fungible tokens. He sees stablecoins as a transition and predicts that Bitcoin will usher in fundamental changes to the global financial system.

Well-known investor and entrepreneur

Tim Draper is a An American venture capitalist and entrepreneur, he is Draper Fisher Jurvetson (DFJ), Draper University, Draper Venture Network, Draper Associates and Draper Goren Holm, founder.

He has invested in numerous technology companies and projects, including Baidu, Hotmail, Skype, Tesla, SpaceX, AngelList, SolarCity, Ring, Twitter, DocuSign, Coinbase, Robinhood, Ancestry.com , Twitch, Cruise Automation, PrettyLitter and Focus Media, etc.

Not only that, he is also a leading spokesperson and supporter of Bitcoin, blockchain, and cryptocurrency.

He once purchased 29,656 Bitcoins confiscated from the Silk Road website for US$18.7 million in 2014, and was listed on the Forbes rich list in 2022 with a net worth of US$1.2 billion. Asset ranking 2324th.

Draper was born on June 11, 1958. He is a third-generation venture capitalist and government official. His father is the founder of Draper & Johnson Investment Company and the former chairman and president of the Export-Import Bank of the United States.

Draper attended Phillips Academy Andover and later entered Stanford University, earning a bachelor's degree in electrical engineering in 1980.

He interned at Hewlett-Packard during his time at Stanford, and also created a popular campus board game "Stanford-Game" with Heidi Roizen. He received his MBA from Harvard Business School in 1984.

Entrepreneurship and investment career

In 1985, Draper left the investment bank Alex. Brown & Sons and started his own venture capital career. In 1991, his former colleague John H.N. Fisher became a partner, and in 1994, business school student Steve Jurvetson became a third partner. They co-founded Draper Fisher Jurvetson (DFJ), a global venture capital firm focused on investing in innovative technology companies and projects.

Hotmail and Viral Marketing

Draper had invested in Jack Smith and Sabeer Bhatia, who showed him their company Hotmail. Hotmail is a company that provides free email services. Draper came up with the idea of ​​automatically attaching a short advertising message to the bottom of every Hotmail email sent.

This idea was called "viral marketing" by Draper and Jurvetson, although the term had appeared in PC User magazine as early as 1989. Viral marketing is a marketing strategy that uses existing social networks and media platforms to spread brand information and products, which can effectively increase user engagement and loyalty.

Baidu

Draper is the first Silicon Valley venture capitalist to invest in China. He invested in Chinese search engine giant Baidu through global fund DFJ ePlanet. 5 million US dollars. He saw Baidu founder Robin Li's speech in 2000, was impressed by his ideas and vision, and decided to cooperate with him.

Draper once said: "I think Robin Li is an amazing entrepreneur. He has extraordinary vision and talent. He can build a powerful search engine in China and provide high-quality search results to hundreds of millions of users." services and content." Baidu was listed on Nasdaq in 2005 and became one of China's largest search engines and Internet companies, and Draper also received huge returns from it.

Tesla

Draper was also an early investor in Tesla, a company focused on electric vehicles and renewable energy that it launched in 2003 Founded by Martin Eberhard and Mark Tarpenning, Elon Musk joined as CEO in 2004.

Tesla was listed on Nasdaq in 2010 and became one of the most valuable car companies in the world, and Draper also received huge returns from it.

Supporter of Bitcoin and Blockchain

Draper is a supporter of Bitcoin and Blockchain A staunch supporter and spokesperson of blockchain, he believes that Bitcoin is a decentralized global currency that can provide a more secure and transparent transaction method. It can also promote financial innovation and inclusiveness, and serve the world. Positive economic and social impact.

He once said: "I think Bitcoin is a A free and democratic currency that allows people to get rid of the control and interference of organizations and banks, that allows people to own their own wealth and rights, and that allows people to conduct barrier-free transactions and cooperation on a global scale. ”

“Weak regulators spread fear, strong regulators spread opportunity. I think cryptocurrencies need to be regulated in new ways from a new group.I think our regulators are taking The actions are out of bounds and it's time to rein them in. Gensler (U.S. SEC Chairman Gary Gensler) is destroying our country."

Draper participated in the U.S. Department of Justice's seizure of the Silk Road website in 2014 At the Bitcoin auction, he purchased 29,656 Bitcoins for $18.7 million. The price of Bitcoin at the time was $632.

He then stored the Bitcoins in a cold wallet without any influence from a third party. He stated that he would not sell or exchange his Bitcoins, but viewed them as a long-term investment and savings. He also stated that he would use Bitcoin to support cryptocurrency-related companies and projects in which he invests.

Draper is also a pioneer in Bitcoin price prediction, predicting that Bitcoin will reach $250,000 in 2025. He made this bold prediction based on factors such as Bitcoin’s scarcity, demand, innovation, and efficiency.

He also predicted that Bitcoin will occupy 20% of the global currency market, while the US dollar will gradually lose its dominance. He said he is confident in the future of Bitcoin, which he believes will become dominant in the financial system, especially in the fields of decentralized finance and non-fungible tokens. He sees stablecoins as a transition and predicts that Bitcoin will usher in fundamental changes to the global financial system.

In addition, according to Decrypt reports, Tim Draper launched Draper Goren Blockchain (DGB), a venture studio focused on cryptocurrency, aiming to accelerate decentralized finance (DeFi) innovation and network expansion solutions and the development of consumer applications such as games and social experiences. The venture studio’s founding partners Alon Goren and David Bleznak have invested in Draper Round Table, the Web3 investment platform launched by Draper, and are board members of social analytics platform LunarCrush and digital securities institutional-grade network Ownera.

Alon Goren said that they do not plan to run DGB like Y Combinator or Techstars, and DGB plans long-term cooperation with each company. Alon Goren said: "We plan to work with each company over the next 10 years, investing $25,000 to $100,000 in pre-seed startups, and will focus on working with select entrepreneurs to build companies from scratch."< /p>

Written at the end

Tim Draper is a well-known American venture capitalist and entrepreneur. He has extensive investment experience in the technology field. and achievements, he is also a strong supporter and spokesperson for Bitcoin and blockchain.

He once purchased nearly 30,000 Bitcoins in 2014 and predicted that Bitcoin would reach $250,000 in 2025. Not only that, he believes that Bitcoin is a decentralized global currency that allows people to get rid of the restrictions and interference of the traditional financial system. It can also promote financial innovation and inclusiveness, and bring benefits to the global economy and society. Positive effect. He also launched Draper Goren Blockchain, a cryptocurrency-focused venture studio designed to accelerate the development of decentralized finance and consumer applications.