Contrary to the opinion expressed by Warrant Buffett, Draper Fisher Jurvetson partner and venture capitalist Tim Draper is intrigued by Bitcoin. It is well known fact that Warren Buffett, a leading venture capitalist and often called ‘Oracle of Omaha’ for correct predictions; has despised Bitcoin and calls it mirage; however, Tim Draper does not think so.
If Tim Draper is able to influence decisions at his firm Draper Fisher Jurvetson (DFJ), a venture capital firm based in Menlo Park, California with affiliate offices in more than 30 cities around the world and over $7 billion in capital commitments, it could auger well for the digital currency.
The opinion was expressed by Tim Draper during a program “In The Loop,” a discussion about technology investment opportunities on Bloomberg Television. He was put tough questions and he came up with well nuanced answers. For instance, when he was asked in which area in technology he is most intrigued with from an investment perspective.
Answering to the question Tim Draper said that he thinks it is Bitcoin. According to him Bitcoin is a way of all finance, all commerce everything can be transformed by it. He also added that it is like one abstraction past where the world is today. He expects Bitcoin will become a popular method for transactions in coming years.
Digital Currencies Have Potential to Transform the Way Transactions are Carried
Tim Draper believes that Bitcoin and other digital currencies have the potential to transform the world pretty much the way the internet did way back in 1990s. He thinks that the entrepreneurs he knows along with the venture capitalists are all building their infrastructure around Bitcoin.
He also seemed to be aware of the latest issues coming up in Bitcoin economy and its potential misuse in money laundering and other contraband activities when he says that there were many issues as the internet was getting built and as we got more and more comfortable with it, it became a bigger and bigger part of our life.
Tim Draper is of opinion that like there were troubles with Internet at the initial phase and it overcame later on, Bitcoin will soon overcome all the obstacles and emerge as winner. So far he has invested little in Bitcoin and believes that the digital currency will eventually find its place.
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