Tim Draper Continues To Show Strong Support For Bitcoin Amidst Bearish Crypto Market Conditions


Tim Draper Continues To Show Support For Bitcoin Amidst Bearish Market Conditions

In a recent interview with Breaker, longtime crypto proponent and venture capitalist, Tim Draper, was once as quoted as saying that the global crypto landscape seems to be looking quite healthy at the moment and that the future for “Bitcoin” and some of the other top altcoins looked extremely “promising”.

Draper is extremely well known for his bold crypto predictions over the past couple of years. For example, back in 2016 he was noted as saying that Bitcoin would rise above the $10,000 mark within the coming year ( a prophecy which eventually came true after BTC witnessed a monumental surge in its value all-through 2017). Not only that, Draper was also one of the first big name investors to buy stock in firms like in Hotmail, Skype and Tesla (back in the day).

What Else Did Draper Have to Say?

While being interviewed in regards to the future of Bitcoin, Draper once again showed his affinity for the premier digital asset by saying:

“We’ve finally got a currency [cryptocurrency] that finally pervades all countries that is global, decentralized, open, completely transparent, and keeps a perfect record. Why would we ever go back to political currency when we can use Bitcoin for all other things?”

With that being said, Draper then also pointed out that along with Bitcoin, Ethereum, XRP and some of the other top altcoins too possessed a lot of financial potential. Following this, the discussion then veered towards the topic of crypto adoption and what the future of Bitcoin looked like in this regard.

“I want to be able to set up a fund that’s all Bitcoin, and I want the underlying companies to pay their suppliers and employees in Bitcoin. I want that because that can all happen without any accounting, and we can build in smart contracts for my investors so that when one of the companies gets bought I can hit a button and it can immediately go into all their bitcoin wallets.”

Draper: “I Stand By My $25,000 Price Prediction For Bitcoin”

When asked about his current financial predictions regarding Bitcoin, Draper went on to cite certain historical figures wherein he found that “volatility swings had always been experienced by the top digital currencies in the market”.

Not only that, he also went on to say that:

“I’m assuming within the next year or so, we’re going to make it so that everyone buy a cup of coffee with bitcoin using their smartphones. I only make one prediction at a time and mine is the $250,000 per bitcoin. But I look at it a different way: One bitcoin is worth one bitcoin and other currencies will fall away against it.”

Final Take

Rounding out his interview, Draper proclaimed boldly that “1 Bitcoin will always be worth 1 Bitcoin” since the currency comes with a fixed token count (as opposed to other digital assets whose circulating supply can be increased).

Lastly, in regards to bitcoin, the millionaire also said that he will continue to invest in BTC infrastructure since he feels that as time progresses “more and more people will start to realize the drawbacks of fiat and start moving towards cryptocurrency use”.

You can read the full interview here.

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