Top Crypto Investor Tim Draper Boldly Predicts How Bitcoin’s Breakthrough in Adoption will Rival Fiat Money
Tim Draper Boldly Predicts Breakthrough in Bitcoin Adoption To Rival Fiat Money
The cryptocurrency market continues to linger in a tight range, with most of the top coins unable to gain a strong upside momentum on their prices. However, this has not stopped blockchain enthusiasts from retaining positive views on the future of cryptocurrency and in particular, Bitcoin.
Venture capitalist and crypto champion, Tim Draper, is one public figure who retains his position on the need for outright adoption for the leading digital asset. Speaking at the recent Crypto Invest Summit in Los Angeles, Draper expressed that the “incumbents” are responsible for slowing the adoption of crypto and those who had “dollar” do fuel skepticism on the idea of digital currency.
He was also adamant that entrepreneurs were the key to changing people’s perception towards mass adoption of cryptocurrency, explaining:
“Once everybody starts using it, they will not even know the difference. Suddenly, they're going to be like, hey there are some cool things I can do with Bitcoin or another cryptocurrency, that I couldn't do with dollars.”
Draper also hailed the fact that the real breakthrough of crypto adoption would make the digital coins relative to the dollar, where we could witness rise and fall in their prices. In the interview he gave to AMTV, the crypto expert explains his position:
“So I think over the long haul we will get to an asymptote. I think the asymptotes like a million dollars a Bitcoin, but we will get to asymptotes where we will spend it, and we won't even think of political money (fiat money).”
The Forecast On Bitcoin
For skeptics around, Tim Draper has been at the forefront of crypto growth by sharing his positive sentiments in different crypto forums, interviews and summits. Fortunately, his opinions are partaken by a good number of his peer in investments and crypto.
DeVere Group's CEO Nigel Green points out that Bitcoin could irrevocably change the traditional financial system, if its price drastically reduces in the next ten years. Steve Wozniak from Apple understandable expressed the excitement at which the blockchain technology develops and even forecasted it to trump other engineering considerations. Others, like Tom Lee of Fundstrat, offer broader ideas on Bitcoin price by suggesting it could reach $10,000-$100,000 in the next five years.
The Crypto Invest Summit
The Crypto Invest Summit is a leading crypto-focused conference and summit with emphasis on sustainable ways of investing in blockchain technologies. The summit is held in Los Angeles annually from October 22nd-24th, with approximately 4500 attendees, more than 150-panel speakers and 100 exhibitors. Its goal is to provide a platform where crypto enthusiasts, investors and corporates can gather, network, learn and grow their projects.
Who is Tim Draper?
Tim Draper is a billionaire investor and founder of the firm, Draper Fisher Jurvetson (DFJ). He is renowned for his optimistic predictions on the cryptocurrency industry, implying a 4000% price increase. Most notably, he predicted the cryptocurrency industry would have a market cap of $80 trillion within 15 years and that Bitcoin will reach $250,000 by 2022.