[2018-02-15] Tim Draper: Why Would I Sell Bitcoin, The Future of Currency?

[FollowSynergy]

Venture capitalist and Tezos investor Tim Draper has said that a “very large portion” of the $86 trillion global currency market “will be crypto” in future.

‘WHY WOULD I SELL THE FUTURE FOR THE PAST?’

Speaking to Bloomberg on the current state of Bitcoin Thursday, Draper, who has long been bullish on its place in the future economy after making huge purchases, reiterated his commitment to stay invested.

“I’m looking at it in a very different way because I think Bitcoin is the future currency,” he told hosts when asked whether he agreed Bitcoin could soon trade below $1000.

“People ask me, ‘Are you going to sell your bitcoin [for fiat]?’ and I say, ‘Why would I sell the future for the past?’”

Draper purchased nearly 32,000 BTC as a result of auctions after the Silk Road shutdown in 2014. Paying around $18 million at the time, his hoard is now worth $310 million.

Learn more: http://bitcoinist.com/tim-draper-bitcoin-future-currency/

[Irvinn]

Well Draper said about Bitcoin: "Why should I sell the future for the past." I hope he knows what he is saying and what he is doing, and bitcoin will soon cope with its shortcomings and will please its investors with a good profit.

[tee-rex]

The Winklevii twins are saying that they are quite optimistic about bitcoin prospects, McAfee promises that bitcoin will reach $1M by 2020, and this dude now says he is bullish on bitcoin. Interesting, are they saying this because they are really so confident in bitcoin's future or simply because they have huge bitcoin exposure and thus are trying to make things look better than they really are?

[richardsNY]

The Winklevii twins are saying that they are quite optimistic about bitcoin prospects, McAfee promises that bitcoin will reach $1M by 2020, and this dude now says he is bullish on bitcoin. Interesting, are they saying this because they are really so confident in bitcoin's future or simply because they have huge bitcoin exposure and thus are trying to make things look better than they really are?

The Winklevoss twins are a great and contributing factor to this market. Mr McAfee is nothing more than an utter idiot caring about his own gains only. He doesn't even mind to make people buy shitcoins that he himself bought prior to his recommendation, to later dump his entire stash on them. Other than that, I completely agree with Draper -- if you just look at the potential of Bitcoin, then current adoption is nothing more than a joke, which reflects on the price that we are seeing today. In other words, why would you sell your coins at $10k, while later in the future these coins will be valued at $100k a pop. It makes zero sense, and makes those who are selling today look like morons.

[darkangel11]

I hope this quote of his will become famous one day. Maybe in a couple years, when BTC starts trading for more than $50k per coin, the community will launch a project to have it carved in stone. That would be something, right?
I like it how bullish he is about BTC. People like that are giving us all hope in the times of uncertainty and fear like that recent correction.

[BitHodler]

You're a real hodler or you aren't. Reality however shows that the majority of the people are very easily triggered by an increasing market to sell for a measly short term profit. It's their 'loss' in the end, because they always buy back.

And when they buy back later on, they pay a good premium on top of their initial selling price just to get the same amount of coins back. People thought to be smart to secure profits at $1000, $2000, etc.

When we're a few years away from now, people regret having sold their coins for $10,000, $20,000, etc. It's the same shit, year after year, but just with constantly increasing values.