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VeChain [VEN] has a new billionaire investor – Tim Draper

Sthuthie Murthy



VeChain [VEN] has a new billionaire investor
Source: Wikimedia Commons

Tim Draper, a legendary Silicon Valley investor has invested in China’s first blockchain-based security platform VeChain through its US dollar fund but has not disclosed the scale of investment.

The initial Tesla investor is not a fledgling to the crypto world. According to CNBC reports, he is very well known for his Bitcoin investment in thousands when the price was just $6. Apart from the currencies, he has also invested in some blockchain startups like CoinLab, VerifyBTC, BitWall, etc.

According to the tweet from Alexandre A,

“RT Block Manity: Billionaire investor Tim Draper Invests in VeChain.”

VeChain Foundation also tweeted a few hours ago:

“We see eye to eye with our investor, Tim Draper regarding the future of cryptocurrencies and use of blockchain solutions.”

Amir Lamps, a Twitter user said:

“Wonderful to know and great to hear, he is the man. He knows quality and VET is an absolute giant, smart money.”

Amber Ardat, a blogger commented:

“Just throwing out big names for a price bump? LOL!”

VeChain [VEN] has already been experiencing some gains of almost 2.60% since yesterday and has closed at $3.35 as seen at press time.

Tim Draper quoted while talking to a CNBC reporter:

“We are living in a rapidly changing world and the arrival of the blockchain will change every aspect of our lives, just as the Internet reshaped the world.”

Tim also said that blockchain has way more potential and is not yet completely mined, while developers are in a race globally to stay active while shaping the future for it. He says that the blockchain companies have become the center of attraction for many prominent investors when seen on a whole.

He had commented while addressing an audience in San Francisco that in the next 5 five if you decide to pay for a burger or a coffee in Starbucks and McDonald’s with fiat currency, the person at the counter will laugh at you.

Chris Alexander commented on this on a social media:

“Perhaps, more than a few people are checking it out, good to hear that. Bandwidth exceeded: D hehe.”

Franny, a market observer tweeted:

“He obviously has intelligence even though he is investing late. As the saying goes, Better late than never do it.”

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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.


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