- Popular cryptocurrency investor Tim Draper says that he is interested to fund Indian crypto startups. The Supreme court of India had made crypto financing legal in India last Wednesday.
Tim Draper, who is a popular investor and the holder of thousands of bitcoin courtesy his win in the Federal Bureau of Investigation’s Silk Road auctions of 2014, has expressed his interest in investing in the embryonic crypto industry of India.
After the Supreme Court of India allowed the resumption of crypto-based financial services in India, thereby reversing the ban imposed by RBI, the nascent crypto industry of India is showing signs of booming. Draper, on 21 March stated that in his recent trip to India, he had met various crypto and Bitcoin startups. He also said that he hopes he could fund these startups.
Draper believed the importance of crypto will be brought out by the deterioration of the global financial system. He stated:
“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.”
In addition, he said that in the long term, people will understand that Bitcoin is a better currency than our current financial system.
Draper, however, is not the only one looking to invest in these crypto companies. As previously reported by BitcoinNews.com, Binance and WazirX announced a funding of USD 50 million for the blockchain startups in India.
Image Courtesy: Pixabay