Crypto Will Take Over in Next Five Years: Tim Draper
Billionaire investor and notable Bitcoin (BTC) bull Tim Draper asserted that in Five years, only criminal would use fiat as cryptocurrencies are universally accepted. Draper made his claims in an interview with American financial news tv channel Fox Business released on February 18.
Only Criminal Will Prefer Fiat Money
Reciting his previous statements, Draper predicted that fiat money would become laughable and obsolete in five years. He believes that nobody but criminals will keep using cash, considering how easy it will become to track a criminal who uses crypto through blockchain. The investor said:
“The criminals will still want to operate with cash, because they catch everybody who is trying to use Bitcoin.”
In August 2018, the United States Drug Enforcement Administration (DEA) agent mentioned that she prefers people to keep using cryptocurrencies since the blockchain helps in identifying and tracking down criminals.
Whereas, Draper also believes that his money is more secure in the bitcoin than in the bank. “My bank is constantly under attack,” further emphasizing that fact that to date nobody has been able to hack bitcoin’s blockchain, indicating that bitcoin is safer than the dollar. The Billionaire Bitcoin bull believes that there is no sense to keep resorting to conventional means of trading as the future is all about cryptocurrencies.
The statement from Tim Draper supports the young millionaire Jeremy Gardner’s assertions, which indicate that the existing financial system is more culpable for issues such as terrorism, and crimes as compared to blockchain technology will possibly ever be.
In November of last year, Draper reaffirmed his April 2018 prediction about Bitcoin that it will trade as high as $250,000 per coin by 2022. Whereas, Bitcoin has managed to achieve some growth lately, rising around 7.6 percent.
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