Scary times. Stocks are in turmoil. Oil is dropping. And the one hedge against it all that many crypto-heads had hoped to see skyrocket -- went down the tubes.
Scary times. Stocks are in turmoil. Oil is dropping. And the one hedge against it all that many crypto-heads had hoped to see skyrocket -- went down the tubes.
When the world comes back, it will be Bitcoin, not banks and governments that save the day. (Tim Draper)
But it’s not all doom and gloom for Bitcoin.
In fact, Tim Draper -- legendary billionaire investor -- claims that “When the world comes back, it will be Bitcoin, not banks and governments that save the day.”
This uplifting quote and more insights were part of a recent interview Tim Draper spoke at.
Mr. Draper is best known for buying BTC in the early days. He’s been a fan ever since and even claimed to have exited the stock market in late 2019 to focus exclusively on cryptocurrencies and the blockchains they’re built on.
But that’s not all he’s known for. Just like John McAfee and Anthony Pompliano, Tim Draper has made big, bold predictions about the rising value of Bitcoin.
One prediction, for instance, really caught the eye of the media. Tim Draper claimed that by 2022 we will see one bitcoin hit $250,000. And he labeled this estimate as “conservative.”
But will Tim Draper’s prediction be spot on? Or will it fizzle away like John McAfee’s myriad big-name predictions?
Well, to Tim Draper’s credit, he is a pioneer of business ventures in the U.S. -- which led him to be a co-founder of Draper Fisher Jurvetson Venture Company.
In fact, Tim Draper’s involvement with cryptocurrency has helped him become one of the major advocates for the whole crypto industry.
Now he is putting his money where his mouth is by investing in technology developments in blockchain. One of the most recent ones is DeFi Money Markets DAO -- which may have major potential in decentralized finance. Specifically, Mr. Draper bought a fairly good size stake in the upcoming governance token DMG.
These types of ventures give Tim Draper credibility when he says that decentralization powered by Bitcoin and AI has the “ability to transform the biggest industries in the world.”
Apparently, once the Coronavirus threat is over and the world embarks on the long hard journey of recovery, it’ll be Bitcoin that emerges as the primary tool.
These technologies will transform industries across the globe. From banking to healthcare and real estate, and beyond. One of several great examples Draper cited, was the insurance industry, where he said:
"For example, I could start an insurance company with an actuary AI to determine fraud and a smart contract with Bitcoin and put it all on the blockchain."
Maybe someone out there is already on it. And if they aren’t, then it’s time to start!
