Live on Bloomberg TV

00:00I need to start off with just your broad thoughts on FTX the fall out. What's your best informed guess of how this chapter ends? Well, we've always been so excited about Bitcoin because it's decentralized and in a token where we're FTX was very centralized, it was all centered around this one guy. And when you centralize anything, bad things can happen. I mean, Putin is a centralized dictator of Russia and he went to war. She is a centralized dictator of China. And he locked down all of Shanghai. These centralized decisions are not healthy. And that's why Bitcoin was so good. It wasn't a central bank. It wasn't the money wasn't coming from any central source. It was decentralized and open. And all these copycats that went off and created similar things didn't think in terms of decentralizing. And so FTX was predictable. We turned down FTX twice at Draper Associates. You bring up a very good point. This is trust. And you know, you look at some of the fallout, minimal. Of course, to your point, there are a lot of it is down to trust, you know, the clients withdrawing their money. There's a liquidity squeeze then for some of these other players. Dan, what do you think needs to happen to restore that trust? I think it's time and and I think trust in centralized currency should be. Should it should have a little bit of an eye toward things could go wrong. But decentralized currencies. I mean, there. You don't want to trust central centralized systems. Decentralized systems work. Can I borrow your analogy, though? I mean, within this world of decentralization, for example, the issue also is there are, to your point, monarchies within this FTX is a very good example of that as an industry player. How do you address that then? So as an industry player, I am looking to invest in things that better decentralized. I think there are big opportunities in anything that looks like it has the opportunity to be decentralized. I think like the downs, the downs are going to be extraordinary for humankind. They're going to sort of bring us through an anthropological leap forward. I kind of like those. I like what what's happening in smart contracts around Bitcoin. I think those are very exciting because they're going to make it so we don't need as much legal service. We can actually have most of those contracts built into software. And I like what's happening around the block chain. I know it's two hundred fifty thousand. That's your call in Bitcoin. When do you think it gets there and why? And I'm wearing my bitcoin tie. And the reason it gets to two hundred fifty thousand and probably beyond is that it will take a moment when you can buy your food, your clothing and your shelter all in bitcoin. And here's what here's. Here are the statistics that I know that women control 80 percent of retail spending. And that's usually the food, the clothing and the shelter. And women only have what way back when it was like 1 in 14 bitcoin wallets. And now it's 1 in 6. And when women realize that they can get a discount by paying in bitcoin, when retails retailers realize they can double their profits by accepting bitcoin, it's going to move pretty quickly. I got to ask you, your personal wealth. How much? Without giving away too much details, how much of that is actually kept doing? Not so much in Fiat. So most of it is and most of it in crypto. Most of it's in Bitcoin and a lot of it's in in a couple of other currencies, but they're the decentralized ones. They're like tazers and others. Very little in centralized currencies and in a lot in startups.

No schedule data available.

Billionaire Investor Draper on Fall of FTX, Bitcoin

Billionaire venture capitalist Tim Draper says the collapse of FTX was predictable because the platform was "very centralized." The founder of Draper Associates tells Bloomberg's David Ingles why he's sticking with his prediction that Bitcoin will hit $250K. (Source: Bloomberg)