Tim Draper, an advocate for entrepreneurs and Bitcoin enthusiast, is also known for his venture successes such as Skype, Hotmail, Theranos, Tesla, and many others. Ranked 52 on the list of the 100 most influential Harvard Alumni, Tim Draper has been promoting Bitcoin education and investing in various Bitcoin-related firms. We contacted Mr. Draper via email to ask a couple of questions about his life attitudes and investment plans.
- Your latest Bitcoin investments are related to Europe. However, after recent events in Paris, the European Union seems to be aggressively disposed towards an unregulated currency. Do you think it’s going to make much difference to European Bitcoin brand-new and long-present companies? The situation being what it is, have you ever thought about leaving the European market?
The governments that are the most receptive to Bitcoin are the ones that will win the business. America was wise to allow the Internet to thrive unfettered. The countries that do the same for Bitcoin will similarly thrive.
2. Do you consider Bitcoin and blockchain to be just a good investment field or you believe they are really going to change the world as, for instance, the Internet did?
Yes. In the past we required bankers to be the trusted third party. With Bitcoin and the Blockchain, the trust is automatic, and frictionless.
3. Many people buy bitcoins and keep them in their cold wallets till things go better.You participated in auctions of bitcoins seized from Silk Road. Do you use all the bitcoins to invest in your new Bitcoin projects or you keep a part of them for future use?
I have done both. I hope to make many more investments with Bitcoin, so that the entire process is transparent.
4. Recently, you’ve invested $100К in a mobile selfie app. How do you choose your investment projects? Is it about your intuition? Do you feel the potential or it’s just cold planning?
I invest in markets and technologies, and ultimately it comes down to people.
5. What investment project made you feel emotionally fulfilled most of all?
Hotmail and Skype allowed the world to communicate for free. Theranos looks like it might have a similar transformative outcome in health care.
6. Is your son Adam more involved with Bitcoin or you try to watch it closely as well?
It is a family passion.
7. Is the Bitcoin course at Draper University successful?
Yes. It is an online course, and many people have taken it.
8. How did you make your first dollar?
Selling apples that I picked to people on the street.