Tim Draper, an American venture capital investor, and businessman sticks by his bullish prediction by stating that Bitcoin will play a lead role in turning the entire global economy to cryptocurrency”.
It’s quite surprising seeing the market leaders and analysts are betting huge on blockchain including overstock founder selling his retail venture to solely focus on blockchain and Lou Kerner viewing bitcoin with huge value despite market slumps.
Discussing the benefits of digital currencies, Draper mentions:
They’re frictionless, they cost you less. I mean, just by that alone, it’s going to be better for people, and so they’re going to move to crypto, and they’re going to go away from the political currency. They call it fiat.
Draper holds that this is the main reason for Bitcoin’s (BTC) $4011.66 -0.32% future increase in value.
That’s the way it’s going to move. And so the countries that are forward thinking are saying, this is the way it’s going to be. So we’re going to make a huge mistake by trying to cling to our old currency.
However, he’s confident the ratio will eventually switch to a 50-50 balance, in which both fiat and crypto share equal positions in the global financial market. Explaining once again that cryptocurrencies are both frictionless and cheaper to operate, he states:
It will be easier to spend and invest your bitcoin than it is to spend and invest your dollars. I tend to move my dollars into bitcoin because I think, well, why would I want this currency that’s tied to some political force when I have a currency that is going to be frictionless and global? I would much rather have a global currency than one that is sort of tied to a political force.