BoostVC’s Adam Draper: Cryptocurrencies Will Outnumber Fiat Currencies Within The Next Decade
Adam Draper Says Here Will Be More Cryptocurrencies Than Fiat In The Future
The cryptocurrency market continues to expand, even when in 2018 the space entered a bear trend that affected the whole industry. During a conversation with Anthony Pompliano in his latest podcast, Adam Draper discussed how virtual currencies will expand in the future.
Pompliano Talks With Adam Draper
During a conversation with Anthony Pompliano, Adam Draper, the co-founder of Boost VC, talked about Bitcoin (BTC) and how it is expected to evolve in the next 10 to 25 years. Pompliano started by explaining that the market is currently in a very positive moment and that he has never been this excited about it for a long period of time.
It is worth mentioning that from December 2017 until December 2018, Bitcoin and digital assets have been in a bear trend that affected the whole market. In April, Bitcoin experienced a price surge that allowed it to reach the highest price in more than 5 months.
During the podcast, Mr. Draper commented that Bitcoin will become a reserve currency. About it, he said:
“I think the impossible can happen in the space and I stand by it. I think Bitcoin could be disrupted and that there could be two predictions. In my opinion, in the next 10 years, there will be more digital currencies and probably in the next 25 years, BTC may become a global currency. Bitcoin works like the internet, no one really talks about the internet right but rather the products built on it.”
BANG BANG. New podcast episode with @AdamDraper is live!
We discuss Bitcoin, Blockchain, cryptocurrencies, space, aliens, oceans, and why investing in weird things delivers great returns.
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— Pomp 🌪 (@APompliano) April 17, 2019
It is clear that Bitcoin and virtual currencies are expanding in many different countries. Companies are starting to use them and other individuals are using them as a store of value or means of exchange. For example, it is very expensive to use traditional financial methods to pay for goods and services. PayPal and Visa have very high fees that merchants have to pay. Meanwhile, digital assets are much cheaper and faster to use than these services.
Draper commented that non-fungible tokens are undervalued, even when he supports the case for these digital assets. Furthermore, he talked about the Lightning Network in the Bitcoin blockchain and how it could help to process transactions. He mentioned that there are smart people producing very interesting things.
The Lightning Network (LN) is the ultimate scaling solution for Bitcoin that would help users process microtransactions and also improve the whole Bitcoin network. With the LN, transactions would be processed in just a few seconds and for almost no fee. Scalability problems that were affecting Bitcoin would now be solved.