Tim Draper makes exciting predictions for the future of cryptocurrency

Tim Draper makes exciting predictions for the future of cryptocurrency

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Answer Tim Draper makes exciting predictions for the future of cryptocurrency

The eccentric billionaire and venture capitalist known for his support digital currencies Tim Draper became known With great optimism towards Cryptocurrency It seems that Draper did not change his position due to the recent decline in the price of currencies and his latest prediction may confuse some.

Draper sat down with financial news outlet TheStreet in May and talked about several issues surrounding cryptocurrency and his position on regulation. Cryptocurrency The hacking problems and even how Trump should deal with them.

But the most interesting topic in the interview was his prediction for the price of Bitcoin, where he stated that he had retreated from his previous prediction that Bitcoin would reach the price of $250,000.A in 2022.

Read:Chinese hackers have developed a malicious virus to steal digital currencies from users’ devices

But Draper is still betting on bitcoin as he predicts that bitcoin will be a $10 trillion market in ten years and the crypto market will be worth $100 trillion in the same period.

These numbers are implausible, but Draper argues that if we consider that fiat money may depreciate, his expectation is likely. Draper also points to inventions such as the Lightning Network, Bitcoin Cash, and Bitcoin Gold as examples of the scalability of the cryptocurrency market.

Draper also mentions He said the pivot point for Bitcoin will be in four years when the public starts using cryptocurrencies and he also talked about central banks that they will be outdated soon and he should advise them to look for new jobs.

The billionaire also stated that he will not exchange digital currencies for fiat money even if the price of Bitcoin reaches $250,000. “Converting from digital currencies to paper money, such as exchanging shells and gold” and “In the long run, I intend to use, spend, invest or preserve it.”

Tim Draper is known for saying what he thinks, and recently became a member of the “Cal3” campaign, which proposes the division of California into 3 separate states.

Read:Binance, Coinbase, and other cryptocurrency exchanges are targeted by a new Trojan

Although Draper’s price predictions are undoubtedly high-flying, they may not be unfounded. And any prediction made just six years ago that the price of Bitcoin would reach the $6,000 mark in 2018 was equally fanciful, not to mention the nearly $20,000 Bitcoin rally. Whether the Draper valuation is low or not, it will be interesting to watch the evolution of the Bitcoin price.

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