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Tim Draper: Etsy pricing was 'irrational'

Etsy was clearly priced wrong, said Silicon Valley venture capitalist Tim Draper.

"I think people need to focus on new financial technologies that make it so that kind of irrational pricing doesn't happen anymore," he told CNBC's "Power Lunch" on Thursday. "The bankers are pricing these things way too low and it's clear the market is very interested in new technology companies and this is a great time."

Read More Online retailer Etsy opens at $31 after pricing IPO at $16

Draper, co-founder of Draper Fisher Jurvetson, said financial technology is becoming popular for start-ups and "it's natural because all of these other industries have been attacked by the Internet."

"This is a great time for financial technologies to make a difference," he said. "It's gonna be great for the shareholder and its gonna be great for the company."

Draper is bullish on bitcoin and said that the pricing has finally stabilized at its current price.

"I expect bitcoin is poised for a big breakthrough. All technologies that are controversial end up making big impacts on the world and on society."

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