Tim Draper: More Fluctuations on BTC’s Road to $250K Plus, BTC Over Libra Hands Down
In a recent crypto content covered by the ‘Cryptocurrency’ channel, Tim Draper shared his viewpoints on Bitcoin [BTC] from all aspects, including price predictions, banks and others’ negative standpoints as well as a comparison between Facebook’s Libra and BTC.
BTC Anticipated to Reach 200K+ by 2022
Draper trusts that BTC is, “going to be 250,000 by 2022 or 2023,” adding that the process will witness an array of fluctuations before actually getting there. He trusts that said moves may be impacted by naysayers, primarily the banks, who are finding ways to prevent BTC from taking over.
He noted that BTC’s use of blockchain and how it is transparent are some among other factors that are surely to leave “banks threatened”, forcing them to find ways to “try to change it”. But, at the end of the day, Draper argues that “technology wins all wars.”
Draper Overturns Claims that Cryptos Lack Security
When Draper was asked about economist, Nouriel Roubini’s viewpoint on cryptocurrencies, especially in relation to the lack of security, the former argued that the economist was wrong.
While it is true that if traders lose their keys, there really isn’t a way to retrieve funds, Draper argued that we cannot expect banks to help retrieve large funds. More specifically, he said:
“For one thing, [Roubini]’s wrong because if you have more than $250,000, no bank is responsible for refunding your money. […] The bitcoin blockchain has never been hacked, but the banks are being hacked all the time and they are playing whack-a-mole with hackers trying to keep them away while their technology gets older and older.”
He seems to have emphasized on technology, as the bitcoin blockchain is constantly getting worked on to one day house the best security it possibly can, while banks still stick to their traditional and outdated means of practice.
“Between Bitcoin and Libra, I want Bitcoin”
Finally, with all talks surrounding Libra in recent times it was bound to be question directed towards Draper.
“I always welcome innovation […] I think that you have a tried, and true and tested currency in Bitcoin and Libra is new so there is some risk to it and they haven’t been tested, […] but the other thing I’m concerned about is that Libra is centralized […] You just have trust Facebook to be a good operator, and I think I would under Zuckerberg, but if he ever moves out and if there is another CEO, I wouldn’t trust them.”
Bitcoin’s price is $45,149.69 BTC/USD exchange rate today. The real-time BTC market cap of $844.84 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $30.37 Billion and live coin value change of BTC -5.72 in the last 24 hours.