Tim Draper reveals why he bet on Bitcoin when no one believed in it

Source: CritpoTendencia Original Title: Tim Draper reveals why he bet on Bitcoin when no one believed in it Original Link: Tim Draper, one of the most influential venture capital investors, recently shared the reasons that led him to bet on Bitcoin when it was still a virtually unknown asset to the market.

Through an experience marked by risky decisions, costly lessons, and a sustained conviction over time, his story highlights the transformative potential of cryptocurrencies, especially for those outside the traditional banking system.

I initially bought Bitcoin at $4 for currency.

Not because I understood the technology ( nor did I understand ).

Not because I saw the future ( nor could I ).

But because someone explained to me how digital currency could change the world for people who had no access to traditional banking.

Bitcoin at $4: the beginning of the story

Recalling his early encounters with Bitcoin, Tim Draper notes that he acquired the cryptocurrency at a price close to $4 per unit, at a stage when he still did not fully understand the technology nor anticipated the global reach it would have years later.

Still, he was attracted by the idea of a digital currency capable of expanding access to financial services for sectors historically excluded from banking.

Based on that premise, he allocated $250,000 to CoinLab and another $250,000 to direct purchase of BTC, trusting Peter Vessenes’ proposal, who suggested mining the coins and storing them on the Mt. Gox platform.

However, that decision became a hard lesson when the funds were lost after the collapse of the Japanese exchange.

From loss to conviction: the auction and resilience

Far from abandoning his thesis, Draper reinforced his belief in Bitcoin’s potential. In 2014, when the U.S. Marshals’ office auctioned nearly 30,000 BTC seized in investigations related to illegal online markets, the investor placed another bet.

At that time, he bid $632 per BTC, a value higher than the market price at that moment, and managed to acquire all nine available lots. Later, when the price fell to $180, Draper chose to hold his positions, convinced that the true value of the technology would manifest in the long term.

That confidence was also reflected in concrete gestures. As a thank you to the speakers of the first cohort of the Draper University, he gifted them physical Bitcoin coins. According to his account, some of them have searched intensely for their homes years later, after having stored them without much attention at the time.

Bitcoin, inclusion, and a vision of the future

Draper’s journey illustrates how long-term vision and perseverance can turn an early intuition into a global financial transformation.

Beyond speculation, his bet has always been linked to the social impact of cryptocurrencies, considering that Bitcoin has the potential to change the lives of millions of people excluded from the traditional financial system.

Today, as BTC continues to open new avenues for financial inclusion and redefine the rules of money, stories like Draper’s invite us to look beyond volatility and understand the structural value of a technology designed to democratize access to financial services worldwide.