Tim Draper refuses holding US dollars

ICO News

Cryptocurrencies investor and billionaire Tim Draper pronounces that crypto is going to replace the half of all fiat circulated in the world economy. This corresponds to the sum of $43 billion. He argues that “it’s going to be better for people,” as he holds a speech at World Crypto Con in Las Vegas. He elaborates that “they’re going to move to crypto, and they’re going to go away from the political currency — they call it fiat. That’s the way it’s going to move.” Draper feels adamant regarding his forecast that Bitcoin will reach $250,000 at the end of 2021 year.

Personally Draper tending “to move my dollars into Bitcoin, because why would I want this currency that’s tied to some political force when I have a currency that is going to be frictionless and global? I would much rather have a global currency than one that is sort of tied to a political force.” Draper is akin to John McAfee who proclaimed that he uses only fiat for his mundane transactions.

The investor is strongly believing in cryptocurrencies and is going to launch new cryptocurrencies fund: “Eventually, I want to be able to raise a fund that is all Bitcoin, invest it all in Bitcoin into a bunch of different companies, and have them pay their employees and suppliers all in Bitcoin. And then no accounting fees, and it’s done automatically. And it’s all built into smart contracts, so that if one of those companies gets sold, I push a button, it just shoots into all of their Bitcoin wallets.”

The investor sees that governments of some countries looks smart and feel that something big is going to transform the financial reality and they will catch up this trend: “That’s why you’re seeing the smaller countries all say, ‘Yeah, we want Bitcoin, we want initial coin offerings here, we want blockchain. We want all of these things in our country.”

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Earlier this year he boldly said at the 2018 Web Summit in Lisbon, Portugal that “this is a new society, and you want to get out in front of it.”

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