For one of the most recognized venture capital investors in the world, the leading cryptocurrency will end up displacing the dollar in the future, driven by the transparency offered by blockchain technology.
The renowned venture capital investor, Tim Draper, shared his opinions on the current state and future of Bitcoin. Draper, known for his bold prediction that the price of BTC would reach 250,000 Dollars in four years, when its value was $400, he previously acknowledged that his forecast did not materialize due to underestimation of crucial factors.
In a recent interview with the Bloomberg agency, Draper revealed that he did not anticipate the intensity of caution on the part of the United States government towards Bitcoin. Originally, I hoped the government would approach cryptocurrency regulation more favorably and will facilitate its use as a base currency, following the example of other countries. However, he admitted that his initial assessment underestimated the US government’s concern and caution regarding bitcoin.
Bitcoin will displace the dollar
Despite these challenges, Draper highlighted the advantages of the largest cryptocurrency by market capitalization, especially its ability to keep perfect records. He argued that the use of Bitcoin has made it possible to identify criminals, unlike the use of Dollarswhich provides a greater degree of anonymity.
The investor also suggested the possibility of a massive withdrawal of funds from banks in the future, comparing this scenario with historical episodes such as the post-civil war and the transition from local currencies to the single currency in the eurozone.
Ultimately, Draper expressed optimism by stating that he envisions a future in which It will be possible to make everyday purchases, such as food, clothing and housing, using Bitcoineven predicting a decline in interest in the dollar in favor of cryptocurrency.
Source: Ambito
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