Tim Draper Bullish About Crypto: "Fiat Will Not Be Used Five Years From Now"

The legendary early Bitcoin investor, Tim Draper declared yesterday in an interview on CNBC that in five years from now, none of us would be using fiat currencies. He made this bold prediction in the CNBC’s program “Fast Money”.
He also declared that cryptos are currencies not affected by political whims of any country, truly global, to make remittances and payments across borders.

Draper became famous for accurately predicting that bitcoin would reach $10K

Global Movement / Global Governance

“We’re at the beginning of a new movement, bigger than bronze age, bigger than the internet”. He pointed that this was the biggest thing that’s happening in the world today, and that there were great opportunities for investors to get in trough bitcoin and other cryptos. He also stated that there will be “virtual governments” competing for us in the coming age. “Governments” as he said, can be interpreted as service providers, and they will be chosen by the quality of service that they provide. He said this regarding the influence of crypto in transforming current industries.

Blockchain Insertion

He also referred to blockchain as a potential aid for industries today, not as a supplementary tool of actual industry. “None of the industries today will be instantly replaced by blockchain applications”. It will be gradual, and most companies will leverage blockchain to adapt their business model to a more efficient one. Clearly, he referred to banks, remittances providers, and centralized payments services such as PayPal, that are directly challenged by Bitcoin and cryptocurrencies in general.

Tip of the iceberg

To close the interview, he said that we are still seeing only the tip of the iceberg.”We are investing in companies that are still finding what bitcoin is useful for”,”We are still in the eighties of the Internet”. The creativity of an incumbent industry is always in bloom. You can find a myriad of ways in which blockchain tech can be more effective than the traditional way of doing things. Then the prediction was made: in five years from now, you will be able to buy a Starbucks coffee only with crypto. We’ll be around to see if it happens.

Related posts
cryptocurrencyDOGEdogecoinDOGEUSDElon MuskNewsTron NewsTRXUSD

As Elon Musk’s SpaceX Literally Sends Dogecoin To The Moon, Justin Sun Craves For Tron to Tag Along

Justin Sun, the CEO of Tron is offering Elon Musk a million-dollar deal, to help launch a satellite for BitTorrent and Tron. The CEO of the leading network has been clamoring for the adoption of the Tron network and its…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTFacebookMark ZuckerbergNewsxbtusd

Facebook’s Mark Zuckerberg Might Have Just Made A Grand Entrance Into The Bitcoin Market

The CEO of Facebook might have just dropped subtle hints on his “Bitcoin holdings.” In a post that has left the cryptocurrency space confused, for the most part, Zuckerberg posted a picture of two of his goats, named Max and…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Software Giant Palantir Joins the Bitcoin Race, Hints At Gigantic BTC Buy

What do Tesla, Time magazine and WeWork have in common? All companies have, in the last three months, announced either a significant investment in cryptocurrency or a newfound acceptance of it as a means of payment from customers. The most…