Tim Draper launches $2 billion Fund 8, predicts AI‑Bitcoin convergence

Tim Draper, the veteran venture‑capital investor, announced the launch of Fund 8, a new Draper Associates fund managing roughly $2 billion. He marked the fund as a milestone in his 41‑year venture‑capital career and the twelfth year since the firm’s rebranding.

Draper said the current artificial‑intelligence boom resembles the surge of 1998 and expects several more years of growth. He predicts that AI and Bitcoin will integrate more quickly than many anticipate, maintaining his Bitcoin price target of $250,000. In the interview he highlighted early successes such as Tesla, SpaceX, Hotmail, Skype and Baidu, and more recent bets on Bitcoin, Robinhood, Coinbase and Oklo, while noting missed opportunities with Facebook, Google, Netflix and LinkedIn.