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Edited by Pooja77 at 21-12-2023 02:00 PM
Silicon Valley venture capital guru Tim Draper, the founder of Draper Associates, has been a staunch believer in Bitcoin (BTC). Earlier this year, he stated in an interview that he firmly believed the price of Bitcoin would reach $250,000 and that it would happen before the 2024 halving. However, he later changed his stance at the beginning of this month, suggesting that $250,000 might only be achieved in 2 years (2026).
Tim Draper: Bitcoin will be accepted by the whole world sooner or later
Recently, Tim Draper spoke about Bitcoin once again in an interview with Fox Business. He expressed his belief that the whole world will eventually accept Bitcoin. He explained that as Bitcoin was the first cryptocurrency to appear on the market and is the most actively traded cryptocurrency, it will become the choice for everyone when you can buy food, clothing, and shelter with it. Bitcoin will be accepted worldwide, and retailers will realize that accepting Bitcoin can save them 2% in fees they would otherwise pay to banks and credit card companies.
Tim Draper emphasized that Bitcoin is changing the way money and business operate. Through artificial intelligence (AI) and encryption technology, legal, accounting, and monetary flows can all be automated. There will be no need for auditors, accountants, or lawyers in the future, taxes can be paid in Bitcoin, and everything will be automated. This is a key factor for large-scale adoption in the future.
In Tim Draper's view, Bitcoin has the advantage of digital gold, which will change the landscape of trade and traditional currency. One of Bitcoin's greatest advantages is its trustless nature, represented by hundreds of thousands of nodes to ensure the authenticity of transactions.
About Legendary Investor Tim Draper
In fact, as early as 2014, Tim Draper bought 30,000 confiscated bitcoins from the US Department of Justice on the dark web and predicted that Bitcoin would surpass $10,000 within 3 years. Surprisingly, by 2017, the price of Bitcoin had reached $20,000. At the time, Tim Draper's views were seen as a landmark prediction in the cryptocurrency market.
Furthermore, Tim Draper, as a legendary investor, has previously participated in early-stage investment projects including Twitter, Tesla, Skype, Coinbase, Hotmail, Baidu, Theranos, and Overture, among many others. He is also credited with pioneering the concept of viral marketing and assisting in the success of numerous software products such as Gmail and Yahoo! Mail. He is considered one of the most renowned venture capitalists. |
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Post time 11-9-2023 11:43:36