Tim is a formidable Silicon Valley Venture Capitalist who became a Bitcoin enthusiast even before Bitcoin became the ‘in thing’. He started thinking about digital currencies 15 years ago when he met a guy in South Korea who had bought a virtual sword for his son with fiat currency. As currencies proliferated in video games, he started looking for ways to convert one game currency to another.
The moment Tim heard about Bitcoin, he dived in and invested $250,000 when the price of Bitcoin was just $6, but he lost it all in 2014, in the collapse of Mt. Gox, a Japanese Exchange. But he was not deterred. In that same year, he paid $20 million for about 32,000 Bitcoins seized and auctioned by the U.S. Marshals Service — the coins were confiscated from Ross William Ulbricht aka "Dread Pirate Roberts" and his online black marketplace known as Silk Road. After then, he has made 40 more crypto investments.
In 2018, Forbes estimated 59 year old Tim Draper’s crypto net worth between $350 million-$500 million.
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