"I did that sermon and I'm attacking"
As reported by Ethereum World News a few days ago, Tim Draper, a venture capitalist and well-known supporter of cryptocurrency, said that the total value of all the crypts assets they will reach the incredible 80 trillion dollars over the next 15 years. Speaking on the stage of an event during the so-called "week of cryptocurrency" in Singapore, the investor said that the cryptocurrencies and the underlying technology will begin to invade traditional markets ranging from trillions.
In a recent interview with TheStreet, Timper, supported by Tim Cramer, doubled his bullish sentimentality on the nascent crypto market, explaining to the publication that Bitcoin could reach $ 250,000 a piece by 2022, just four years away.
interview, which was conducted at the California Crypto-Finance conference earlier this month, the journalist first questioned Draper on his first experience in possession of cryptographic assets. The venture capitalist, who was an angel investor of Tesla, Skype and other major modern technology companies, noted that he began investing in this space just before the catastrophe Mt.Gox (which continues to this day).
After investing a modest amount of fiat in Bitcoin, Draper noted that he started participating in the US Bitcoin Marshal auction, claiming he bought over 40,000 BTCs in a leap of faith that initially cost thousands, if not millions.
Explaining why he made such a move, which was and is still seen as a rather risky investment, the VC expressed his thoughts on the strength of decentralized technologies and cryptocurrencies and their potential use cases.
While Bitcoin "uses a lot of energy", Draper noted, the security of the blockchain that supports the popular but nascent cryptocurrency gives it much of its value, calling attention to the fact that network security is not never been compromised and "knocks on wood – we do not believe it will ever be". In support of this statement, he issued a polarizing declaration on the "war" between Bitcoins and banks, observing:
I think that having this consensus will further boost confidence. In fact, I'm more confident in my Bitcoin than it is in the US dollars in Wells Fargo.
Speaking more on the blockchain in the broader sense, the well-known supporter of cryptocurrency has emphasized that this new technology will revolutionize finance, important, along with a variety of other areas that have importance in the daily lives of human beings.
More specifically, he noted that smart contracts, along with machine learning, will revolutionize medicine and health. As such, governments will have to "compete", with this statement probably alluding to the fact that it sees the decentralized systems take over systems and programs imposed by regulators.
And of course, as mentioned earlier, Draper closed the interview by telling TheStreet readers that he remains confident about this technology and budding asset class, despite the most recent market decline, stating:
This will be so great so if you see a dive, jump inside. Maybe he will dive further but boy, I made that prediction and I'm sticking to it. $ 250,000 by 2022 for Bitcoin.
Photo by Andre Francois on Unsplash