Tim Draper sold his shares to invest in bitcoin.

   According to a venture capitalist and cryptic enthusiast Tim Draper, most of his portfolio is now in bitcoins.

In an interview on CNBC Draper stressed that last year he significantly increased the share of investments in bitcoin. He said that he continues to believe in the prospects of the first cryptographic currency.

"I just believe in it. I'm just saying that this asset is the best. In the long term, people invest in the best assets," said the billionaire.

Draper said that the coronavirus outbreak in China has caused stock markets around the world to fall. However, he sold some of his shares on time, because last year he realized that stocks are now in the overbought zone.

Recently, the world's most famous investor Warren Buffet met with Justin Sun, the founder of the TRON project, and as Buffet said, this meeting had no effect on his skepticism about crypto-actives. Draper believes that shares of banks and insurance companies may decline significantly during the crisis, but investments in bitcoin will bring profit.

It was recently reported that Tim Draper bought 1 million ANT tokens worth about $823,000 - this is the number of tokens needed to have a say in the management of the Aragon project.