When it comes to Bitcoin, you either hate it or love it. However, there are some people who love it that much and have enough influence to make other change their mind as well. Take billionaire Silicon Valley venture capitalist Tim Draper, who just released a very interesting statement on the biggest cryptocurrency of the moment.
According to CCN, during a debate at the Intelligence Squared/Manhattan Institue US, where his investment in the leading tech plays compares to digital currencies was discussed, Tim Draper made a very interesting statement about Bitcoin.
A very courageous statement
“This is bigger than the internet. It’s bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution. This affects the entire world and it’s going to be affected in a faster and more prevalent way than you ever imagined.”
Tim Draper is famous for making such statements. Previously, he made headlines after predicting that Bitcoin has the potential to reach $250,000 by 2022. Obviously, this is a price target that he kept repeating during the panel, but also added that cryptocurrencies could become a practical method of payment. And yes, he made another prediction related to this.
“In five years you are going to try to go buy coffee with fiat currency and they are going to laugh at you because you’re not using crypto. I believe that there will be a point at which you will no longer really want any of the fiat currency,” he said.
Is the bubble about to burst?
As a lot of people expected, Tim Draper wanted to talk about one of the – still – hottest topics regarding cryptocurrency: is it actually a bubble abut to burst?
Draper made the comparison with the Internet once again, saying that the world wide web was also considered to be a bubble and nowadays, everybody is using it. From this point of view, he is absolutely correct, but we still need some time in order to see if the same thing will happen with Bitcoin and other cryptocurrencies.
“I am so much more secure in my Bitcoin than I am in the money that is sitting there in Wells Fargo,” he ended the presentation.