“Everything Is Going Digital, Life Will Become Easier With Bitcoin”
Legendary Silicon Valley venture capitalist and founder of Draper Associates, DFJ, and the Draper Venture Network, Tim Draper assure the crypto community in a recent interview of a better life with bitcoin.
Life Will Get Easier With Bitcoin
Tim, a leading spokesperson for Bitcoin, Blockchain, ICOs, and cryptocurrencies. He says during an interview on Dustin Plantholt’s “Life’s Tough—You Can Be Tougher” podcast yesterday that Bitcoin and other cryptocurrencies will be the primary means of payment in five years.
Tim Draper has invested in over 50 crypto companies as well as leads investments in Coinbase, Ledger, Tezos, and Bancor, among others. According to him, there’s a virtual world and there’s a real world. However, the virtual world will be predominant within the next few years and bitcoin will be at the center of its economy.
Tim goes further to mention the inefficiencies and inconvenience faced with the current financial system. As well as, how people are left with no choice than to get ripped off their hard-earned money with unaffordable interest rates.
“There’s gonna be a virtual world and a real world. And the virtual world is gonna have its own real estates, its own currency, social stratums and whatever else, and I want to succeed in those”, Tim said.
Two days ago, during an interview session with CNBC, Tim Draper weighed in on the price of bitcoin.
How Bitcoin Is Preparing To Build A Better World
In most controversial discussion ongoing in the crypto space lately, Draper has called out a 25x increase in the price of bitcoin by 2020. Draper says he believes there is a shift towards the decentralization of money, security, privacy, and cost of spending.
According to Draper, the world is getting sick of having to pay 2.2-4% of their hard-earned resources to banks and other financial institutions per transaction.
Tim Draper explained that, a wave of people are fast coming to the realization that cryptocurrencies are the future of money. And that though they are not as easy to carry around, eventually, they will. According to him, the technology offers more ease of use and functionalities than the current fiat system. To start with, transactions would become cheaper, faster and most importantly, private.
“At some point, people are going to make this switch, and Bitcoin is going to be the big winner.”
Bitcoin’s Price Movement
A decade long, bitcoin has seen glorious moments that propelled it into mainstream attention and adoption. And though adoption is still widely considered in its early stage. Moreover, Bitcoin has grown its price by a margin immeasurably more than ever recorded by any stock or similar cryptocurrency.
Coming to be known as the best performing asset of the decade, bitcoin in 2017 made a record bull run. Furthermore which swung its price into the tens of thousands arena, touching as high as $20k by the end of the year.
As at the beginning of the year 2020, bitcoin’s mainstream attention grew and the cryptocurrency once again made a record 40% Year to date (YTD) price pump. And though, the cryptocurrency would meet with expected price corrections, its price sank below ranges of excitement and its TYD gains fell to about 25%.