Draper Says VCs Are ‘Missing Out’ on Crypto Opportunities

Prominent Silicon Valley venture capitalist Tim Draper says initial coin offerings are both a “challenge and an opportunity” for venture capitalists, noting that more than one-third of the companies he looks at nowadays are “tied to bitcoin or crypto in some way.”

In an interview with The Information, Mr. Draper said that venture capitalists concerned about missing out on ICOs are right to worry. He said they should have ensured that their contracts with their own investors were broad enough to allow them to invest in cryptocurrencies.