Forex and Crypto News

Tim Draper has earned $89.1 million on Bitcoin investment for 5 years

14:26 14 January /2019

In 2014, Tim Draper acquired 30,000 BTC at auction. He paid $632 for each Bitcoin confiscated from the darknet market of Silk Road.

In 2014 $18.96 million spent by Draper currently worth $108 million, even despite the 80% correction of the Bitcoin price over the past 12 months.

Investors who don’t lose faith in the potential of blockchain technology, such as Tim Draper, Mike Novogratz, and Peter Thiel, continue to retain their Bitcoin positions from year to year, recognizing the high risk of such investments.

As Tim Draper says:

“The long-term prospect of Bitcoin development lies in the global economic expansion. The potential of this digital currency is limited only by the imagination of entrepreneurs who work with it. I believe that the Bitcoin community will eventually come to self-regulation in order to execute proper control and maintain the transparency of the Bitcoin network. Perhaps in the future, the need for regulation of the cryptocurrency sphere by governments will also be eliminated. I went through the ups and downs of Bitcoin, however, as always, I am sure that the Bitcoin revolution is just beginning.”

Large investors, who invested in Bitcoin, also expect that this asset will eventually be able to compete with gold.

An expert in geopolitics and founder of Philosophy of Metrics, Jacey Collins suggests that the gold market will be completely absorbed by cryptocurrencies in the future, as the financial technologies in various sectors of the economy expand and develop new financial products. According to the expert, “anything will not stop the digital assets market.”

It is also worth to say that the legendary cryptographer Nick Szabo believes that in the coming year, central banks can begin to use cryptocurrency for reservation. According to Szabo, the integration of digital money will take place in countries with weak national currencies or under sanctions.

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ICO projects sold 400,000 ETH during November

During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.

According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov

12:01 17 December /2018