Tim Draper Sees Altcoins Boosting Bitcoin Dominance

Venture capitalist Tim Draper believes that the rise of altcoins is enhancing Bitcoin’s growth by serving as testing grounds for new ideas and features. If these innovations prove successful, they often get adopted into Bitcoin later. Draper explained on CNBC’s Squawk Box this week that we can expect even more cryptocurrencies to emerge in the future. Draper sees this increased diversity actually strengthening Bitcoin’s position as a dominant force in the industry.