Silicon Valley Billionnaire VC Tim Draper backs First ICO

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Billionaire venture capitalist Tim Draper soon plans by a new digital currency offered by a technology startup – a step he has not been willing to take for some time in the past. This indicated a paradigm shift in the thinking of Silicon Valley VC in terms of Altcoin investment.

According to an exclusive interview with Gertrude Chavez-Dreyfuss at Reuters – Draper, an early supporter of bitcoin and its underlying blockchain financial ledger technology, told Reuters in an interview he will for the first time participate in a so-called “initial coin offering” (ICO) of Tezos slated later this month.

“The best thing I can do is lead by example,” said Draper, on his plan to participate in Tezos’ token offering.

“Over time, I actually feel that some of these tokens are going to improve the world, and I want to make sure those tokens get promoted as well. I think Tezos is one of those tokens.”

“I think most investor contracts did not anticipate something like an ICO,” said Draper. “But we did anticipate that certain things are going to happen and finance is going to be transformed.”

Draper said his firm has specifically carved out money for non-traditional investments. Read article in full here. 

 

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