Investor Tim Draper is still buying Bitcoin

According to investor Tim Draper, the recent rise in Bitcoin prices shows that people are getting involved in the world of digital currencies.

An active investor, Draper is best known for purchasing about 30,000 bitcoins at a government auction in 2014. While Draper continues to buy bitcoin, he also owns the native cryptocurrency ether.

Draper told CoinDesk:

“Bitcoin will continue to be mainstream because it has become the industry standard. But ethereum and other currencies will also have an impact on many industries, such as smart contracts or bank transfers.”

Two years later, Draper believes that the recent rise in Bitcoin prices is due to more and more people now believing in Bitcoin like he does.

Notably, with prices hovering above $700, recent weeks have marked the first time Draper’s bitcoin has been worth more than the total amount he paid for it (the exact purchase price remains unknown).

As for the changes that have taken place in the Bitcoin industry during this time, Draper said that he believes Bitcoin will be very popular, but other blockchain systems will also be widely used.

Despite his recent reduction in the number of investments, Draper said he wants to invest in more companies but has been lacking the right ones lately.

However, Draper believes that this may soon change, concluding:

“A lot of these early-stage companies are making breakthroughs. We’re going to see a new wave of them very soon.”