in

Bitcoin Billionaire Tim Draper Might Not Invest in India Ever Again Due to Controversial Citizenship Law, Crypto Coins News

Bitcoin Billionaire Tim Draper Might Not Invest in India Ever Again Due to Controversial Citizenship Law, Crypto Coins News


  • Tim Draper has suggested he will not tolerate religious discrimination.
  • The Draper Venture Network is currently invested in India.
  • The venture capitalist earlier this year criticized a proposed cryptocurrency ban in the world’s largest democracy.

Bitcoin billionaire Tim Draper is not one to shy away from controversy.

As protests escalate over India’s Citizenship Amendment Act (CAA), Draper has warned that the new law could harm the subcontinent’s power to attract investors such as him. Per Draper, the actions of “India choosing one religion over another” could make him reconsider investing in the world’s second-most populous country.

The bitcoin billionaire tweeted:

India choosing one religion over another makes me seriously concerned about my plans to fund businesses there.

************ Source:
Twitter

Venturing into a controversial topic

Among other things, the CAA has been accused of offering a path to citizenship to only Buddhists, Christians, Hindus, Jains, Parsis and Sikhsfleeing religious persecution in Afghanistan, Bangladesh and Pakistan, leaving out Muslims.

While Draper did not reveal the exact steps he will take, his Draper Venture Net work countsIndia’s early-stage VC fund Blume Venturesunder its umbrella.

**************
************ India’s Blume Ventures is under the Draper Venture Network. | Source: Screenshot
Tim Draper owns a part of India’s Unocoin crypto exchange

Among the cryptocurrency startups that Blume Ventures has backed includes crypto exchange Unocoin.

The bitcoin billionaire was also previously invested in India through his other VC firm Draper Fisher Jurvetson. The VC firm, however,

divested from its stakesin nearly ten Indian companies in (**********************************************************.

This is not the first time. this year that Draper is criticizing policies of the Indian government. In July, he attacked a proposal by the Modi administration to ban bitcoin and other cryptocurrencies. At the time Draper argued that the proposed ban would set India back by four decades while insinuating that the move wasdriven by “pathetic and corrupt leaders”

.

In late October, Draper repeated his criticism of India’s proposed bitcoin ban. Then he argued that the ban wouldlead to increased corruption.

Draper expects Bitcoin price explode X six months from now

Draper’s criticism of the CAA is coming days after the venture capitalist predicted thatbitcoin’s pricewould hit $ 478, (after May) **********************************************************. This would be an appreciation of over 3, (% from the current levels.

) ******************************

************************** (Source:) Twitter**********************

Draper says the boost will be triggered by bitcoin’s third halving event

. The billionaire venture capitalist had initially set the $ (************************************************************************, ****************************************************************************** bitcoin price target for 220471. *******

While There are numerous predictions in the cryptocurrency space that have been proven wrong, Draper stands out over his track record. In 2017 when bitcoin was hovering under $ 1, 000, the crypto bull predicted that the price wouldexceed $ (******************************************************************************, in three years. The cryptocurrency went on to surpass nearly double Draper’s price target by the end of

(This article was edited by**************************** (Sam Bourgi) ****************************************************

******************** (**************************************************************************** (Read More****************************************** (************************************************

What do you think?

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

Ponzi or Pumped? Controversial TRON Dapp Racks up 500 Million TRX, Crypto Coins News

Ponzi or Pumped? Controversial TRON Dapp Racks up 500 Million TRX, Crypto Coins News

The Year in Biology, Hacker News

The Year in Biology, Hacker News