Last Updated: 7 July 2022
American billionaire Tim Draper is still sure: bitcoin is going to rise. The venture capitalist is not letting the current situation stop him, and then makes a prediction: “The masses are coming fast, and when they come they come at the same time.”
Draper has been in the world of bitcoin for years. The best man bought over 29,000 bitcoin during an auction. Some of the assets of the bankrupt exchange Mt Gox went to the American. He paid $632 per bitcoin.
Billionaire Tim Draper Issues a Warning on the US Dollar While Predicting a Big Move Into Bitcoin (BTC) https://t.co/Zk5QEHM8N9
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So he is not exactly a novice. For years, he has been one of the prominent figures predicting bitcoin’s golden future. In conversation with London Real, he does so again. So you can take his statements with a grain of salt. At the same time, he has also invested heavily in BTC. These are not just empty words. Draper speculates on a future with bitcoin in the lead.
Draper envisions a future where you can pay with bitcoin pretty much anywhere. At the moment, it is still sometimes cumbersome to pay with bitcoin at your local butcher or supermarket. If that changes, things could move quickly. Draper: “There would then be no reason to stick with fiat currencies. It’s just not the same; it’s tied to some political force; it has to go through the banks.”
He continued: “This is an exciting time.” Draper doesn’t find it surprising that bitcoin’s growth is jittery. That’s part of an emerging market: “We may be in a similar crash to 1929, but now we have bitcoin.”
The hopium dealer is also still buying bitcoin himself: “I haven’t stopped buying bitcoin over the years.”
Draper also sees that governments are struggling. He expects that eventually the US dollar will also have to deal with even higher inflation and a weaker position on the global market. The dollar is currently trading higher than ever against the euro.
Draper: “Bitcoin is just a better currency, and things that are better for the consumer in the long run usually win out in the end. In the meantime, you’ll see central banks get a little nervous, governments get a little nervous. Small governments see this as an opportunity.”