Tim Draper: People Will Buy Coffee At Starbucks With Bitcoin By 2022
Tim Draper, an important billionaire and Bitcoin bull, has recently predicted that Starbucks coffee will accept Bitcoin by 2022 and that people will laugh at you if you try to pay using fiat cash.
The prediction made by the billionaire happens to be about the same year of his price prediction that Bitcoin will be worth $250,000 USD in 2022, which basically makes me ask: if you have an asset which has grown in price more than 50 times in only three years, why the hell are you using it to buy coffee?
Bitcoin Will Be More Disruptive Than The Internet, Draper Affirms
At the moment, the price of Bitcoin is around the mark of $3,900 USD. The price is currently facing difficulties to break the ceiling of $4,000 USD, but a lot of traders are expecting it to happen soon. For Draper’s plans to become a reality, we probably need to see an increase soon.
The $250,000 USD mark may seem crazy (and, let’s be frank, it is), but is not necessarily impossible, really. Back in September 2014, Draper said that Bitcoin would pass $10,000 USD before the end of 2014 and it did, so maybe he will be right again? Who knows.
Draper has affirmed that Bitcoin will be an even more disruptive technology than the internet and he believes that at least two-thirds of all the world’s money will go to Bitcoin as the token is solidified.
According to him, the internet disrupted communications, information and entertainment, but Bitcoin disrupts the most important field: finances. This will be, according to him, the biggest change in the history of the world.
Tim Draper: Long Bitcoin, Short the Bankers
Draper has affirmed several times that he trusts cryptos more than he trusts banks. He is certainly a Bitcoin maximalist, as he bought over 40,000 BTC some time ago. According to him, banks will no longer exist in the future, only cryptocurrencies.
Is the billionaire right about all these things or he is just a person that likes to hype Bitcoin a lot? Hard to say, actually. Some of the remarks made by Tim Draper are highly contradictory: why would you spend Bitcoin at all when it is going up more than 20% monthly?
Spiking prices actually go against adoption if your goal is to use Bitcoin as money and not as a store of value. Some of the things that he says might be fine and he has made some great predictions before, but it is advisable to use logic a bit before going all the way into Draper’s discourse.
Only one thing is certain: one way or the other, Bitcoin has a great future ahead of itself.