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


Tim Draper, a well-known venture capitalist who had previously predicted Bitcoin's rise to $ 250,000 by 2022, is convinced that in the future the whole world economy will turn to criptomoeda, and that Bitcoin will be of all these changes. This Draper statement 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, the state currencies are around $ 86 trillion, while the total market capitalization is about $ 150 billion ($ 125 billion at the time of writing). This rate, he believes, will inevitably change, especially since crypto-coins are faster and cheaper to maintain.

"With the help of criptomoeda, we can easily pay or invest, we can do anything, they work without problems and cost less. The simple fact of being cheaper makes them better for people. And people will go to crypto-crashes, they will leave political coins, which they call Fiat, " Draper said.

According to him, it will be a great mistake to try to cling to the old traditional coins, which is why small countries are becoming increasingly open to crypto-coins, ICO and blockchain technology. And that's also what the US needs, he said.

He also says that it will not be long before the ratio between crypto-currencies and fiduciary currencies becomes 50-50, 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 linked to a certain political force if there is a simple and global currency? I prefer a global currency instead of politics. "

He also said he would like to set up 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 everything happens automatically. So all of this was built on smart contracts, so that when some company is for sale, I could push a button and send money to their bitcoin portfolios. "added Tim Draper.

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

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