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Tim Draper: Bitcoin will be at the head of global economic change



Tim Draper, a well-known venture capital investor, who had previously predicted the rise of Bitcoin to $ 250,000 by 2022, is convinced that in the future the entire world economy will turn towards cryptocurrency, and that Bitcoin will be at the head of all these changes. This statement Draper made on the sidelines of the World Crypto Con in Las Vegas, writes The Forbes .

As Draper says, currently the so-called “political”, that is, state currencies are around $ 86 trillion, while the total capitalization of the entire market is about $ 150 billion ($ 125 billion at the time of writing). This ratio, he believes, will inevitably change, primarily because cryptocurrencies are faster and cheaper to maintain.

“With the help of cryptocurrency, we can easily pay or invest, we can do anything, they work smoothly and cost you less. The mere fact that they are cheaper, makes them better for people. And people will go to cryptocurrencies, they will withdraw from political currencies, which they call Fiat, ”said Draper.

According to him, it will be a big mistake to try to cling to the old traditional currencies, and that is why small countries are becoming more and more open to cryptocurrencies, ICO and blockchain technology. And this is also what the US needs, he stressed.

He also says that not much time will pass before the ratio between cryptocurrencies and fiat currencies becomes 50 to 50, and it will be easier to spend bitcoins or invest with it than with the help of the dollar.

“I usually transfer my dollars to Bitcoin, because I think, why do I need a currency that is tied to a certain political force, if there is a simple and global currency? I prefer a global rather than political currency. ”

He also said that he would like to create a venture capital fund that would operate exclusively in Bitcoins.

“I want to raise funds in Bitcoins, invest in Bitcoins in various companies and see how they pay their employees and suppliers in Bitcoins. I want there to be no accounting commissions, so that everything happens automatically. So that all this can be integrated into smart contracts, so that when a company is sold, I can simply press a button and send money to their bitcoin wallets , ”added Tim Draper.

In October, Tim Draper confirmed his previous forecast for $ 250,000 per Bitcoin by 2022, and also stated that to regulate the industry, it is enough to write a one-page law, which only registers the process of registering and launching ICO projects.

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