Venture capitalist Tim Draper always remains optimistic about the course of bitcoin. He previously predicted a price of $ 250,000 per bitcoin, but now he goes a lot further by calling his earlier prediction conservative.
Tim Draper and conservative in one sentence, who would have thought that?
Draper remains Draper
Draper told this during the interview with BlockTV below.
According to Draper, it will not be long before bitcoin will be used en masse and worldwide. According to him, this only ensures that the bitcoin price increases. If this actually happens, he finds his earlier prediction of $ 250,000 per bitcoin conservative. He says that he has previously underestimated the worldwide impact of crypto.
$ 250,000 means that Bitcoin would take over a market share of 5 percent of the currency trade
We are not there yet
Nevertheless, Draper acknowledged that there are still some barriers to true global acceptance of bitcoin. The main threshold for Draper is that bitcoin is still too complex compared to fiat currencies. The BLOX app proves that this is not always the case.
Draper states that the “lack of use” is the biggest problem that stands in the way of real mass acceptance. Most people prefer to use euros or dollars.
Switch from fiat to bitcoin
But that will not always be the case, the investor says that fiat currency is subject to various types of political influence. That is due to the nature of the animal, fiat currency is managed by a central bank and is subject to inflation.
In addition, Draper also suggested that Argentina could soon become one of Bitcoin’s dominant markets. This is because Draper anticipates that local entrepreneurs will switch to cryptocurrency, because the Argentine Peso is being eroded by inflation and devaluation.
According to Draper, this will also persuade people in the US to join crypto. Moreover, the demand for crypto will increase because people want a currency that they can trust, decentralized and not controlled by organizations such as the Federal Reserve.
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