Tim Draper explains why he increased his investment in bitcoin

Investor Tim Draper is actively withdrawing funds from the stock market and investing in cryptocurrency. The businessman said in an interview that he invested the lions share of his fortune in bitcoin. Draper explains that he believes in the first cryptocurrency. The investor assures that bitcoin is much better than conventional currency. People are moving on to things that are easier and better.

Also, Tim focused on the other currency in which he invested. Tezos (XTZ) has grown several times compared to last year. Tim says the stock became volatile, so he pulled the funds out of the stock market. Draper notes that income from investments in the insurance and banking sectors may decline. Tim stated that cash is more likely to be used for criminal activity than digital coins.

The Berkshire Hathaway leader assures that cryptocurrencies have no value and no future. Tim Draper believed in Bitcoin back in 2011. The entrepreneur is convinced that the cryptocurrency value of the coin will soar to a record high by 2023. In his opinion, the price of one coin will reach $ 250,000. The investor is confident that soon fiat money will be more popular than cryptocurrencies. The optimist bought a million tokens (ANT), becoming owners of almost three percent of the coins turnover.