In Silicon Valley, Tim Draper is venture capital royalty. A third-generation investor, Draper was an early backer of some of the most pivotal technology to come out of California, from Hotmail to Skype. In recent years, his focus has been on Bitcoin and the broader ethos of decentralization, famously paying $19 million for 30,000 Bitcoin in 2014 that had been seized in the U.S. government takedown of the dark web marketplace Silk Road.
While some of his bets have not paid off—including an investment in Theranos and repeated predictions that Bitcoin would reach $250,000—he is continuing to throw his chips in with the pioneer cryptocurrency. In an interview with Fortune, Draper said he expects Bitcoin to soar in value amid economic uncertainty in the U.S.
