When Tim Draper talks about good tech investments with enormous profit potential, markets listen. Some of the Silicon Valley venture capitalist’s winning picks include Baidu, Skype, Tesla, SpaceX, and Twitch. In 2014, Draper made a massive bet on bitcoin. He spent just shy of $19 million for 30,000 BTC sold by U.S. authorities at auction.
Outbidding everyone else, it looked like Draper paid a premium for the coin then. But today that 30,000 BTC is worth over $200 million with the bitcoin price above $7,000. He thinks it’ll be worth $7.5 billion in two years at the $250,000 price point.