One of the biggest billionaires in the cryptocurrency universe, Tim Draper, said he is looking at two altcoins because of their solid fundamentals and unique use cases.
Draper, who is known for being a big investor in BTC and ETH, decided to share which cryptocurrencies he believes have great potential in this new market cycle.
Tim Draper has his eye on Tezos
In an interview with Bloomberg Markets, the billionaire said that the blockchain focused on smart contracts Tezos has the things he wants to see in a cryptocurrency project.
Tezos is the blockchain used by Brazilian bank BTG Pactual to issue its ReitzBZ token.
“I look for who are the entrepreneurs and who are the engineers behind a given token. I love some of the tokens. I love Tezos because he has a great engineering team and they redefined how to operate a token. They do it with Proof-of-stake. They use less energy and have a new form of governance. This is exciting,” he said.
In addition to Tezos, Draper said he’s also excited about the altcoin Aragon (ANT), a token built on ETH. Aragon is a project that allows users to build and manage their own autonomous decentralized organizations (DAO).
To do this, Aragon developed a decentralized system governed by the community. This system deals with subjective disputes that require the judgment of human jurors.
According to Draper, this system could “revolutionize the way juries work”. Furthermore, it has the potential to be the metaverse’s form of justice.
Finally, analyzing Bitcoin, the founder of Draper Associates stated that cryptocurrency is a great protection against inflation. At the same time, he highlighted the superior reliability of the protocol:
“For investors, I think accumulating BTC is probably a good move because there are only 21 million BTC out there. Furthermore, it represents the freedom that allows us to use it anywhere and the confidence that you are trusting the software instead of trusting some bank or government entity.”, he said.