Famous INVESTOR Tim Draper APPROVES This POPULAR Cryptocurrency!

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Written by
1 year ago
In community: Club1BCH(4ac4)
Topics: Bitcoin Cash, Tim Draper, Investing, Cryptocurrency, BCH, ...

How Billions Are Made By Investing In Robust Innovation

Venture Capital Billionaire investor Tim Draper bought 30,000 Bitcoin, auctioned by the US Marshals Service in July 2014 for $17 million.

These were Bitcoins belonging to defunct and seized darknet marketplace Silk Road and released to law enforcement by Silk Road founder Ross Ulbricht.

On September 23, 2014, Draper told Fox Business that he predicted that one bitcoin would reach $10,000 “in three years (source)

Today, this investment is worth $5 billion, with Draper also successfully predicting the previous (2021) bull run.

Tim Draper is a visionary investor, not an ignorant BTC maximalist.

He sees innovation; he invests in it. Therefore, he invested early in technologies that reshaped communications, finance, and entertainment, like Hotmail, Skype, Tesla, Robinhood, and Twitch.

The latest innovative technology Tim Draper invested in is Bitcoin Cash.

Draper did not invest in Bitcoin Cash now, but the recent support he provided to Bitcoin Cash is new and matches his interest in innovative financial technologies.

Although, this time, Tim Draper took a step further and recognized Bitcoin Cash as a promising version of Bitcoin, indicating he understands blockchain technology better than most of the current crypto influencers (Pomp & Co).

Tim Draper Acknowledges Bitcoin Cash Is Bitcoin

(Source: Twitter)

Tim Draper mentions in this Tweet one of the reasons to invest in Bitcoin Cash (legal tender adoption), and why this is good news for the whole cryptocurrency community.

The Prime Minister of St. Kitts & Nevis announced during the Bitcoin Cash 2022 conference a historic event, the launch of procedures to make Bitcoin Cash legal tender in the Caribbean nation in 2023 and further expand into Bitcoin Cash mining.

(Source: Wikipedia)

Draper, in 2017, was holding an equal number of Bitcoin BTC and Bitcoin BCH since the upgrade of Bitcoin in August 2017 resulted in a fork with these two directions (BTC and BCH). Tim Draper is an investor that takes risks and supports innovative technologies.

Bitcoin Cash is the upgraded version of Bitcoin offering fast transactions (0-conf, no RBF) with low transaction fees (lower than $0.01).

Bitcoin Cash delivers much-needed blockchain scalability to meet the standards of global adoption.

Draper still holds most of his Bitcoin (BTC), yet he also revealed in 2020 that Bitcoin Cash is a big part of his crypto portfolio.

Draper always supported Bitcoin would rise and achieve the status of global currency, but calculated the odds and realized Bitcoin Cash is likely the best option in this approach.

In Conclusion

(Background picture on Pixabay)

Some analysts may wonder who is buying Bitcoin (Cash) at $100 and if this is the bottom.

We have this term often abused in the markets, called “smart money”. 

The “smart” investors in this space won’t announce when they are buying, but those that stay back in the bear market know well when they do.

If there’s one thing Tim Draper knows better than (almost) everyone else, this is investing.

Time Draper didn’t accidentally become a billionaire. He undertakes the risk and follows the right approach to time his investments. He recognizes fundamentals and supports positive developments.

Bitcoin Cash is probably the only cryptocurrency working towards these principal objectives of adoption and development during the bear market.

As custodians and centralized networks collapse one after another, one cryptocurrency community sets the example.

Bitcoin Cash

  • Cover Picture (background) on Piqsels (public domain license)

Content published in this article is used for research and educational purposes and falls within the guidelines of fair use. No copyright infringement intended. If you are, or represent, the copyright owner of images used in this article, and have an issue with the use of said material, please notify me.

Also Read:

Platforms:

● read.cash ● noise.cash ● noise.app ● Medium ● Hive ● Steemit  ●Vocal 
● Minds ● Publish0x ● Twitter ● CashRain

Also, visit my second Medium profile: Ex Cathedra and delve into the unknown!

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Avatar for Pantera
Written by
1 year ago
In community: Club1BCH(4ac4)
Topics: Bitcoin Cash, Tim Draper, Investing, Cryptocurrency, BCH, ...

Comments

For me itbwas a big news and good news for all users who holding rhe crypto and it will show a great value now since there are investor believe in the crypto and i hope there are more.

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User's avatar linoasis
1 year ago

Isn't it every day? 😁

Seriously though, this is such a great news. I was daydreaming of something like this to happen while was walking around neighbourhood yesterday evening.

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User's avatar fantagira
1 year ago

Can you elaborate?

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User's avatar Pantera
1 year ago

As in, isn't it a good time to buy BCH every day? I've been buying since summer :)

For the second part I meant I was pondering about BCH while walking yesterday evening and how undervalued it is, while hoping the time will come when people will see it's true value. Seeing people like Tim Draper supporting BCH is awesome. Just finished reading the replies to the Twit though - BTC crowd is so toxic, it's unbelievable

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User's avatar fantagira
1 year ago

Apparently the whole market is rigged and price moves according to a timer. I've been watching charts and thought that sometimes the price reacts with good news. Remember the Kroeger's fake news about accepting Bitcoin Cash? That was only one of the times this happened with many cryptocurrencies. This could be the bottom, but if it isn't price will get at $100 and way higher. It's all programmed for 2 years of bull and 2 years of bear.

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User's avatar Pantera
1 year ago

Who programmes it though? I heard about various cycles in finance as well as history, weather and there was one ore, but how it works I really have no clue. With BCH anything around $100 I keep buying while I can.

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User's avatar fantagira
1 year ago

Hm. a part from an article I was scanning for plagiarism somehow was mixed with my previous comment. If you read it probably you got confused. I have that removed now. Wow, I hope nobody read that! lol

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User's avatar Pantera
1 year ago

I wrote some thoughts here:

https://read.cash/@Pantera/how-to-be-successful-in-crypto-following-the-market-cycles-7746346a

and here:

https://read.cash/@Pantera/bitcoin-btc-price-prediction-for-2025-will-this-time-be-different-06ead3e0

The patterns re-emerge and I noticed them (or someone told me about them, I don't remember) since 2017 when I was day trading. And by day trading, I mean watching the charts all day. Not just for Bitcoin but almost everything.

It's all about the BTC halving. A speculative event re-occurring every 4 years (actually it's 3 years and 9 or 10 months). The halving reduces the rewards of miners by 50%. Today with each block miners get 6.25 BTC. In March 2024 (Approximately) the rewards will be halved. Miners will only get 3.125BTC from each block.

Inflation is reduced but Bitcoin comes with designed scarcity.

The model here suggests that even when demand is stable, the price will begin rising. Slowly in the beginning, and faster after a few months.

It appears that the price stabilized with $15k as support. I believe in the first quarter of 2023 it will begin rising slowly again. It will rise faster a few months before the next halving, and at the beginning of 2024, it will be the time speculators return and buy massively.

They will come back with guns blazing (new Pomplianos, new funds, new FTX exchanges, new scams, and lending Ponzi schemes).

However, it won't be just BTC. All the market moves together, either slower or faster than BTC.

BCH also has a halving, and it helps in a similar way. Also Litecoin and a few more coins have it.

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User's avatar Pantera
1 year ago

Well, thanks to this comment I finally understood what halving means, thanks for this Pantera, that's actually super helpful. So is the BCH halving scheduled around the same time as BTC?

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User's avatar fantagira
1 year ago

It's around the same time. I think March 2024 both, but these timers change. the next halving is on block 840000 for the BTC and the BCH chain.

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User's avatar Pantera
1 year ago
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