Billionaire Investor Tim Draper Quit Stocks for Bitcoin 6 Months Ago

Tim Draper now holds “a lot” of his portfolio in Bitcoin (BTC) after pulling his wealth out of public stock markets six months ago.

Speaking to CNBC on Feb. 24, the VC investor and serial Bitcoin proponent revealed that he had significantly added to his crypto holdings since last year. 

Draper: “Uber drivers were day trading”

“It’s a lot, it’s a lot, a lot,” he responded when quizzed about exactly how far his faith in Bitcoin extended. 

“I’m just a believer — and I look and I say, ‘Hey, this is just better.’ Long term, people move to things that are better.”

Draper was speaking in his characteristic Bitcoin logo tie as stock markets plummeted worldwide due to concerns over coronavirus. 

Continuing, he confirmed his exposure to the crisis was limited due to previous concerns that stocks were too “frothy.”

“It just got too frothy — the market got too excited and Uber drivers were doing day trading, all the signs were there,” he said.

Draper added…