The billionaire and founder of Draper Associates said that Bitcoin could soon replace the US dollar and all other national currencies.
Tim Draper on Bloomberg Crypto announced that he believes in the Bitcoin revolution of the global economy. Against the backdrop of the growing investment attractiveness of the asset on the part of private and corporate capital, BTC can soon replace any fiat coins in everyday transactions.
The businessman believes that the world is on the threshold of a time when people “will no longer want dollars,” and every member of society will give their preference to the flagship cryptocurrency. The Bitcoin revolution could happen naturally, as a result of a massive bank run similar to what happened with the Confederate dollar after the end of the US Civil War in 1864, the billionaire assured.
The billionaire drew the attention of the Bloomberg Crypto presenter that the world is already seeing shifts towards the future Bitcoin revolution. Argentines and Nigerians no longer trust their pesos and naira, preferring to do business in cryptocurrency, and El Salvador has adopted BTC as an official payment instrument. Tim Draper believes that against the backdrop of the crisis in the United States, the deep penetration of bitcoins into national economies will only intensify, and citizens of the world will “eat, drink and dress with bitcoins”.
The day before, the European Central Bank criticized the position of the US Securities and Exchange Commission (SEC), saying that the American regulator's approval of spot Bitcoin ETFs puts investors in danger.