Billionaire venture capitalist Tim Draper says lack of “exciting” volatility in the initial public offering (IPO) market could see an influx of investors to bitcoin (BTC) and other cryptocurrencies. Speaking to CNBC, Draper also echoed the familiar sentiment of cryptocurrency and blockchain technology being akin to the early days of the Internet era.
Boring Public Markets Could Trigger Pivot Towards Bitcoin
In recent times, several companies like Uber and Lyft have made the transition to becoming public firms, after conducting their IPOs. Draper believes that these companies might not experience dramatic growth in their stock prices due to status as already recognized brands.
Commenting on the matter, Draper quipped:
“The public has gone ‘huh’ [sic], who cares. We’ve…