Tim Draper: Bitcoin is creating 'Sea Changes' in many industries

23 May, 2019 | Updated: 23 May, 2019
by Joeri Cant
Bitcoin
Tim Draper: Bitcoin is creating 'Sea Changes' in many industries

One of the best-known voices in the crypto space, Silicon Valley venture capitalist, and billionaire Bitcoin bull, Tim Draper, joins CNBC's Dierdre Bosa where he talks about Bitcoin, regulating Facebook, and the recent IPO rush.

Long time venture capitalist, Tim Draper, joins CNBC's Dierdre Bosa at Collision 2019, a North American tech event, where he shares his thoughts on Bitcoin, Facebook, and the recent IPO rush.

In this short interview, Draper starts off by saying that he got to see the internet boom and that he is now getting to see the Bitcoin boom.

He enthusiastically points out that Bitcoin, smart contracts, and blockchain, are transforming many industries.

'There is a lot of venture capital out there', Draper says. 'And a lot of good entrepreneurs, and you are going to see 'Sea Changes' in the world'.

In case you are wondering what Draper means with 'Sea Changes'. He refers to an expression which means a profound change in perspective, especially one which affects a group or society at large, on one particular issue. You are welcome.

Draper goes on to share his views on the recent IPO rush, and says that the public kinda goes and says 'who cares', they know about these private firms who go public already forever, and it is boring. These companies are not gonna grow another 100% per year, 'they are already way big'.

In regards to the regulations on Facebook, The Bitcoin millionaire states that he currently sees a lot of competitors to Facebook, who come to him and say that they can do it better, more open and private.

'Facebook is going to be challenged in the market place and people are going to move to other social media channels.'

For the complete interview, take a look below.

And as a bonus: Tim Draper sings the Bitcoin shuffle!

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