Father of Silicon Valley Venture Capital Tim Draper: A Firm Believer in Bitcoin and a Pioneer of the Next Era

Tim Draper, as a well-known venture capitalist in Silicon Valley, not only has outstanding investment insight in the traditional technology sector but is also an early staunch supporter of Bitcoin. He comes from a family with a background in venture capital and politics and is a third-generation investor. Draper's grandfather, William Henry Draper Jr., founded a venture capital firm in 1958, laying down the basic rules of modern VC.

In 1985, Tim Draper founded Draper Fisher Jurvetson (DFJ) and subsequently expanded several entrepreneurial and startup education platforms. Notable projects he invested in include Baidu, Hotmail, Skype, Tesla, and SpaceX. When many foreign capitals withdrew from China in the early 2000s, Draper chose to stay and ultimately successfully invested in Baidu through DFJ.

Draper's connection with Bitcoin began in 2011. Although he faced the setback of about 40,000 Bitcoins "disappearing" in early investments, this only strengthened his confidence in the resilience of the Bitcoin system. In 2014, he purchased a large amount of Bitcoin at prices above market value at an auction by the U.S. Marshals Service, planning to use these Bitcoins to promote its adoption in developing countries.

In Draper's view, Bitcoin has clear advantages: it is a globally accepted currency that does not require government intervention; it can serve as a means of preserving value; it is a frictionless currency that can flow automatically according to contracts. He believes that Bitcoin and its underlying technology, blockchain, are the engines driving human progress.

Draper predicts that by 2025, the price of Bitcoin will reach $250,000 and will replace the US dollar as the global reserve currency within 10 years. He is becoming increasingly pessimistic about the US dollar, believing that it is rapidly depreciating.

As a venture capitalist, Draper summarized six core investment philosophies, including not to invest too much in a single company early on, setting the investment period to 5 to 10 years, focusing on mission rather than money, etc. He emphasized that investment should look at "passion" rather than "data".

To this day, while Bitcoin is still questioned by some as a "bubble", Tim Draper has fully committed himself; while mainstream capital is still observing Web3, he is already cultivating talent, building infrastructure, and investing in visionaries for the next era. Draper is not just an investor, but a catalyst for change, betting everything on the future world he firmly believes is coming.