Billionaire Capitalist Tim Draper Predicts Fiat Currencies to be Replaced in 5 Years. Founder of Draper Associates and capitalist Tim Draper who is also popular for making bullish predictions has doubled the doze by predicting as follows:
“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.”
Well seems doable, nothing intelligible happened for bitcoin in its less than a decade’s period of existence. we have seen it has outperformed the top FIAT currencies and is still way higher than the US Dollar and Euros.
Good Track Record for Making Successful Predictions
Billionaire Capitalist Tim Draper earlier made a bullish prediction that Bitcoin price will reach $25,000 in 2018. Tim Draper has a successful history of making optimistic predictions about technology startups Tesla, Skype and jobs.com. Today, he believes that Bitcoin is bigger them all, he even says that it is bigger than the internet.
Billionaire Capitalist Tim Draper Predicts Fiat Currencies to be Replaced in 5 Years
He said in a discussion panel at the Intelligence Squared Institute:
“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”
How Billionaire Capitalist Tim Draper Answered the Question of Bitcoin Bubble
In the same discussion panel, Tim Draper was asked about his views on whether he thinks Bitcoin to be a bubble. Tim calls this theory ridiculous and does not agree to people who call it a bubble. in support of his opinion he says internet was perceived to be a bubble when it was emerging. Mr. Drapper then asks the panelists whether they still think internet was rightly predicted as a bubble? He went on to say that all of you are still using internet which proves that it was not a bubble. He calls it a transformation.
In our view, Tim Draper’s bullish predictions carry weight because he backed up his assumptions with a solid example. The other factor that seems to be supporting his statement strangely is that blockchain technology has been adopted by almost every industry and it continues to win the interest of the market.
Today, we have also seen that Chinese #MeToo activists also intend to move their campaign on a blockchain based platform to avoid censorship. There is no doubt that blockchain is so powerful that even the financial institutions which are putting bans on the crypto trading and transactions are adopting this technology. This is an irony, the biggest of such ironies are India’s Central bank putting bans on the banks to make transactions with crypto exchanges and on the same day announces its own blockchain and crypto currency.
This won’t surprise us if one day we see crypto currencies replacing the traditional ones. with the evolution of technology, one day we might even see ourselves paying for vegetables through Bitcoin, Ethereum and Ripple in the coming days.