Tim Draper, the eccentric billionaire investor and one of the biggest Bitcoin influencers in the crypto space has advised the President of Argentina in a recent meeting to officially legalize cryptocurrencies in the country if the South American nation must escape the economic problems plaguing it.
Cryptocurrencies Playing Vigilante
Venezuela and its dire economy have hogged the headlines for months now, and the social media—focused on the crypto community— have not failed to buttress how cryptocurrencies and blockchain technology could prove to be the ultimate
However, while Venezuela has only hogged the headlines, Argentina’s own economic troubles are just starting
Draper Bets with the President
Tim Draper has promised the president of Argentina Mauricio Macri that Bitcoin might be his best bet of improving the economy of the country, and he is willing to put a wager on it. As the value of the Peso continues to dwindle, Draper is absolutely sure Bitcoin would fare much better than the fiat currency. He also sees Bitcoin becoming a significant part of the world’s trade and financial circle in the next two to three years and Argentina might just gain the world by being one of the first major countries pioneering that vision. Speaking in an interview with Maria Julieta Rumi, Draper revealed the interesting bet he had with the Argentinean president. He explained:
“We were speaking of Bitcoin and the devaluation of the peso, and I proposed a bet: if the peso would be valued more than Bitcoin, I would double my investment that I was making for the country. But if Bitcoin gained a higher rate than the peso, they would have to declare it as a national currency. That would be a perfect decision, as there’s a lack of confidence in this coin.”
Draper is a Bull Alright
No one should be surprised about the billionaire’s solid stance on Bitcoin as he is one of the strongest Bitcoin proponents across the world. One of his boldest and probably outrageous predictions is the prospect of Bitcoin hitting the $250,000 mark by 2023, and surging to5per cent of the global economy. Believer!