( rejected) Billionaire Investor Tim Draper Wants to Invest In Indian Cryptocurrency Start-ups
After the removal of ban on cryptocurrency in India by the Supreme Court of India, many crypto analysts and investors have started showing their keen interests towards India.
And that is the reason why Tim Draper, a Billionaire investor is looking forward to investing in the Indian blockchain and cryptocurrency industry. Tim Draper is also known as the winner of thousands of Bitcoin in the FBI's (Federal Bureau of Investigations) Silk Road auction in the year 2014.
Tim Draper, in his tweet posted on March 21, 2020, said that the reversal of the ban on cryptocurrency by the Supreme Court of India is 'a renaissance for India'.
In his interview with Inc42 on March 21, 2020, Draper disclosed that on his recent visit to India, he met quite a few blockchains and cryptocurrency-based startup founders and hope to invest in a number of them.
"Absolutely! I met several Bitcoin and crypto startups while I was in India last week. I hope to be able to fund a number of them", said Tim Draper.
Eight months back when the Indian Govt. considered having a complete ban on cryptocurrency and asked former DEA secretary Subhash Chandra Garg to draft 'Banning Of Cryptocurrency & Regulations of Official Digital Currency Bill 2019', Tim Draper criticized the government saying that it would take them 40 years back. He made an analogy and said, 'imagine if they did it to the internet, what would have happened?'
"The Supreme Court of India and the Indian government have shown that the best ideas ultimately prevail, and just in time, because the benefits of Bitcoin and crypto over current systems will become apparent during this crisis", said Tim Draper.
Tim Draper Is Not The Only One ...
After the removal of the ban on cryptocurrency, a lot of giants from the cryptocurrency world are looking forward to investing in the Indian ecosystem. The news of Binance acquiring Indian exchange WazirX is already out there and the OKEx joining in partnership with the local Indian exchange CoinDCX is cherry on the cake for future endeavors of crypto enthusiasts in India.