Billionaire Tim Draper Reminds Market of His Position on Unconventional Emerging Technologies

Billionaire Tim Draper has taken to X to remind market onlookers of his position on unconventional emerging technologies like artificial intelligence and cryptocurrencies.

Billionaire Tim Draper is known for his unconventional emerging technologies like artificial intelligence and cryptocurrencies. Now, the head of Draper Associates has taken to X to highlight his firm’s position on the new markets.

As his firm was among the first to believe in Bitcoin at a time when traditional market players were still largely skeptical, Draper's firm has continued betting on the next generation of groundbreaking ideas since, he claims.

"We were among the first to believe in Bitcoin at Draper Associates, and we’ve continued betting on the next generation of groundbreaking ideas since. Yes, we’re still big on crypto but industry-agnostic by design. If it’s unconventional and world-shifting — we’re in."

His assertion comes as Bitcoin corrects upwards, reclaiming the $83,529 price mark. Despite the escalating U.S.-China trade wars, the asset has successfully cleared weekly losses.

According to the MVRV extreme deviation pricing bands indicator, this rebound is crucial for Bitcoin to retest previous support levels, turned resistance, at $94,500.

Draper, a crypto and Bitcoin believer, reminded the market of Bitcoin’s early stages, implying that a notable change has occurred over the past few years, with skepticism dying down and adoption increasing globally.

"Once upon a time, crypto had more than its fair share of doubders. The same goes for AI, self-driving cars, and numerous technologies that are now becoming commonplace. Today it’s Waymo, tomorrow it’s woolly mammoths."

The billionaire, who reported making $89 million from his 5-year Bitcoin investments in 2021, has reinforced his trust in the leading cryptocurrency with bold price forecasts.

After successfully predicting that Bitcoin would hit the $10,000 price mark in 2014, Draper made another bold call in November of 2024. According to him, a standard supply and demand curve could send Bitcoin to $250,000 in 2025.