Famous billionaire Tim Draper, who was talked about with his $ 250,000 prediction for Bitcoin (BTC), gave a new altcoin name.
Speaking to YouTube channel CoinBureau, Tim Draper said he is excited about Stacks (STX), the only SEC-approved Bitcoin-based altcoin.
Draper stated that Stacks, which was launched in January 2021, is one of the projects aiming to bring important applications to Bitcoin, and that he was interested in STX due to its relevance to BTC.
“Most of the things I invested in were projects that started porting important applications to Bitcoin.
“At this point, I think these projects are a very interesting trend and they will progress like Microsoft did.”
Following Tim Draper's statements, Stacks co-founder Muneeb Ali said, “Tim Draper is a legendary investor and seeing him excited about Stacks and Bitcoin L2s made my day.”
STX, which started to rise after Tim Draper's statements, increased by around 25% in the last 24 hours.
STX, which was traded at approximately $ 1.17, rose to $ 1.56 after the statements. At the time of writing, it continues to trade at $1.48.
*This is not investment advice.