News View Non-AMP

What Tim Draper Predicts about the Economy revival Post Coronavirus

Published by
Qadir AK

Tim Draper, an American venture capital investor recently had a chat with NJ Tech council in which he said that it is time to reopen the U.S economy. Draper said that it can take up to three years for the U.S. economy to bounce back otherwise.

Back in early April Draper was in support of President trump’s move to decentralize the state governments to make their own decisions. 

However, he criticized the U.S government by saying that they made a huge policy mistake by not letting the population achieve herd immunity with the lockdown.

Effect of the lockdown on the U.S economy

Draper believes that the Virus has, by keeping us all inside, has gotten our creativity running. He was very vocal about the effects of lockdown on the U.S economy by tweeting that so many more people will die from a crashing economy than from this virus. 

Many people across the country were against Draper’s controversial statement of re-opening the economy.

The U.S employment rate is up by 23 percent in April. A V-shape recovery for the U.S economy is highly unlikely to happen, draper said. 

We can expect an L shape recovery and the effect could get worse if we don’t re-open the economy.

Opportunity for Bitcoin to shine

Draper jokingly promised that If Bitcoin does not hit $250k by the end of 2022, he will eat a raw egg. Followed by which he also shared arguable tweets with Warren Buffett on his statement 

The billionaire believes that the value of the US dollar will eventually decrease and after the lockdown people will realize that it is time to switch to Bitcoin due to its decentralized nature. 

During the interview, he added that he advised his companies to not spend any more money, which he thinks was a great idea as they were able to cope up better with the lockdowns effect.

The USA is in a stroke of fighting the economy leading to eminent recession which eventually is affecting the bitcoin price swing above $8000 within 3 days. 

However, the Price factor is on edge until the 3rd bitcoin Halving event happened on 3rd May. 

It’s 2020! Stay Updated with the latest Crypto, Finance, Blockchain, and Fintech News and Information. We send it directly to your inbox, subscribe to our newsletter.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Bitcoin, Ethereum, XRP Prices Flat As White House Crypto Report Fails to Spark Rally

The prices of top cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and XRP showed little to…

July 31, 2025

Bitcoin Price Tumbles While Fed Rates Remain Flat—Opportunity or Red Flag?

Ever since the Fed's rates were slashed below 5% back in October 2024, they have…

July 31, 2025

Bitcoin (BTC) Price Falters as Fed and BoC Hold Interest Rates Steady

Bitcoin (BTC) price has gradually lost its initial July bullish momentum during the past three…

July 31, 2025

Solana Enters a Crucial Zone: Here’s When the SOL Price May Hit a New ATH Above $300

Solana (SOL) is navigating a pivotal market phase as it hovers near a critical resistance…

July 31, 2025

Fed Holds Interest Rates Steady, Citing Trump’s Tariffs Despite Push for Cuts

The Federal Reserve has decided to keep its key interest rate steady at around 4.25%-4.5%,…

July 31, 2025

This Altcoin is at the Foothill of a Massive Explosion—Will it Follow Bitcoin & Smash a New ATH in 2025?

Litecoin (LTC) price has shown renewed momentum in recent sessions, staging a steady upward move…

July 30, 2025