Tim Draper's Prediction $10k per BTC is Spot On! Is Factom Next?

Tim Draper is a billionaire venture capitalist with huge past successes on companies like Skype, Hotmail, and Tesla.

A few years ago, he bidded and won an auction that the US Marshalls Office held on bitcoins seized from the black market site called 'Silk Road' that most are familiar with in the news. It took the FBI years to crack who was behind the site. Now that man is spending his life behind bars and Tim Draper is the beneficiary of 30k bitcoins seized from that man.

Tim paid about $14 more than what was the current market price at the time (~$630 USD). As of today his less than 20 million dollar investment is now worth about a quarter billion dollars. Not bad for all in 3 years time. To add one more notch onto Tim Draper's already impressive resume, was his prediction that bitcoin would reach $10,000 in 2018 per bitcoin. Today (as of 11/21/17) bitcoin is up over 1000% this year with a value of ~$8350. So far he is looking very on pace to realize his early seemingly impossible prediction.

Now here is where his credibility has relevance to a new opportunity I believe, which I think could be huge. Tim Draper was quoted a year ago saying that Factom has the "potential to be bigger than Oracle, IBM, and another company combined. Since I love numbers, I added up the current market caps (what something is worth if you were to liquidate) of those companies he mentioned (IBM, Oracle, etc.) and divided by the current market cap of Factom. The multiple is somewhere around 2000x!!!

Before you say this won't ever happen, and of course it seems the odds are against us, you probably also realize if you're a crypto investor in altcoins in the past 2 years that this has happened and it is not completely out of the realm of happening again.

In conclusion, Tim Draper is a guy I stop and listen to when he talks. He is handing out golden clues to anyone who will listen on some of these other cryptos and where they are headed. Since I look for scalability for money making purposes, I am putting my money into Factom. Lastly, Tim recently was quoted as saying that cryptocurrencies would replace fiat currency in 5 years time and that people would be laughed at if they try to pay for their Starbucks with fiat. He is adamant that digital money is the future and let's just take him at his word as we all would be way better off if we had in the first place.

(Disclosure, I own Factom and Bitcoin)