Venture capitalist Tim Draper believes the current cryptocurrency bear market will eventually end and subsequently blossom into an $80 trillion dollar market in the span of 15 years.
Draper — one of the cryptocurrency market’s staunchest proponents — is an American venture capitalist and founder of Draper Fisher Jurvetson, Draper Associates, and Draper University.
He told the DEALSTREETASIA PE-VC Summit 2018 in Singapore last week that bitcoin’s current price patterns are similar to that of the internet’s before it burst into the mainstream.
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Draper also explained via a video call at the event that the cryptocurrency market’s current downtrend is the result of people seeing the revolutionary potential in the market, but not yet knowing how it will impact the future. Once that impact becomes evident, investors may pile back in.
Draper Knows Investments
Draper himself has an impressive track record when it comes to investments. As noted by Deal Street Asia, the venture capitalist successfully invested in Baidu Inc., Tesla Inc., and Skype.
It should also be noted that Draper is a staunch cryptocurrency permabull, so his ultra-bullish prediction should be taken as just that.
What do you think of Tim Draper’s prediction that the cryptocurrency market will balloon into an $80 trillion market in 15 years? Let us know your thoughts in the comments below!Â
