Tim Draper sold shares to invest in bitcoin

According to venture investor and cryptocurrency enthusiast Tim Draper, now most of his portfolio is in bitcoins.

In an interview
on CNBC, Draper stressed that last year he significantly increased the share of investments in bitcoin. He stated that he continues to believe in the prospects of the first cryptocurrency.

“I just believe it. I’m just saying that this asset is the best. In the long term, people invest in the best assets, ” the billionaire said.

Draper said that an outbreak of coronavirus in China led to a fall in stock markets around the world. However, he sold some of his shares in time, as he realized last year that the shares are now in the overbought zone.

Recently, the world’s most famous investor Warren Buffett met with the founder of the tron project Justin Sun (Justin Sun) and, as stated
Buffett, this meeting did not affect his skepticism about crypto assets. Draper believes that the shares of banks and insurance companies can significantly decline during the crisis, but investments in bitcoin will bring profit.

It was recently reported that Tim Draper purchased 1 million ANT tokens worth about $823,000 — this is the number of tokens needed to have a say in managing the Aragon project.