Billionaire Bitcoin Evangelist Shelves ‘Three Californias’ Plan after Legal Setback

Billionaire bitcoin evangelist Tim Draper has grudgingly shelved his ambitious plan to split California into three states.

Draper, a venture capitalist and prolific cryptocurrency investor, wrote in a letter dated Aug. 2 that he will not appeal a court decision barring his initiative — formally known as Proposition 9 but better known as “Cal 3” — from appearing on the ballot in November.

“I wanted it to be on the ballot this year,” said Draper, who spent more than $1.7 million on the endeavor, according to a report in the Sacramento Bee. “The political environment for radical change is right now — such change is sweeping the globe. I understand that change is hard, change is scary, but change is evolution and this government is not evolving.”

The California Supreme Court had last month ruled that, despite procuring the necessary signatures to bring the three Californias plan before the state’s voters as a ballot initiative, the plan should be removed from…