Tim Draper Says Altcoins Could Help Bitcoin Evolve and Dominate

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Venture capitalist and founding partner of Draper Associates, Tim Draper, says altcoins could ultimately make Bitcoin better by acting as testing grounds for upgrades.  

During an interview on CNBC’s Squawk Box on Monday, Draper said there will also be “many other cryptocurrencies,” created over time, which will help grow Bitcoin’s (BTC) dominance. 

“Competition is good for the world, but as a percentage of all cryptocurrencies, Bitcoin, with the first boom, they had a 40% market share, with the next boom, they had 50% market share, and now…



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Tim Draper Says Altcoins Could Help Bitcoin Evolve and Dominate


Venture capitalist and founding partner of Draper Associates, Tim Draper, says altcoins could ultimately make Bitcoin better by acting as testing grounds for upgrades.  

During an interview on CNBC’s Squawk Box on Monday, Draper said there will also be “many other cryptocurrencies,” created over time, which will help grow Bitcoin’s (BTC) dominance. 

“Competition is good for the world, but as a percentage of all cryptocurrencies, Bitcoin, with the first boom, they had a 40% market share, with the next boom, they had 50% market share, and now…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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