Tim Draper is one of the pioneers of venture capital USA, venture capitalist in the third generation and a co-founder of venture capital company Draper Fisher Jurvetson (DFJ), which is the world leader in venture investing in technology companies at the initial and early stages of development. The Draper made a forecast that the total market capitalization of crypto-currencies will reach $80 trillion in fifteen years. Draper, whose words first quoted on Friday, September 14, newsletter DealStreetAsia, made the announcement during the summit of cryptocurrency in Singapore.
Instead consider the current bear market as detrimental to the growth and acceptance of cryptocurrency, Draper believes that the market is “cleared”, as there are only serious investors and people who are really interested in cryptocurrency technology, however you need to grasp the idea of a new digital asset is capable of more than simply substitute for government Fiat currency.
According to Tim, in the process of distributing cryptocurrency to develop a more “organic” approach, in which investors will support projects not only with their dollars. Draper believes that the process will be accompanied by a significant increase in market value.
In 2018, we have seen and continue to see the advent of the cryptocurrency market. Among them there are world famous brands, such as Volkswagen and IBM. This process will continue and will increase the number of industries that will be transformed and refer to the proposals of the cryptocurrency sector. Tim Draper says:
“I think that various industry through cryptocurrency, transformirovalsya to such an extent that previously was difficult to imagine. The Internet has changed job industries at a cost of $10-100 billion, and cryptocurrencies will affect the markets for trillions of dollars – we are talking about the financial sector, healthcare, insurance, banking, investment banking and government structures.”
Further, Draper compared the cryptocurrency to the Internet is quite popular analogy. Although the Internet was able to quickly recover and gain momentum after the bursting of dotcom bubble, the overall process is the development and diffusion of global networks lasted for decades.
Cryptocurrencies are in a similar transition state is slow, but growing acceptance and awareness of the masses of the value of technology. This process may be able to tip the scales, and, like the Internet, cryptocurrency will become an integral feature of modern society.
“The Internet started out the same way it developed in stages, in big waves, then there was a kind of collapse, and then moved onto the next wave, more concentrated, but much larger, and I suspect bitcoin will have a similar path.”
Although most analysts and people optimistically assess the prospects of bitcoin and cryptocurrency in 2018 and in the future, are betting on the future decision of the American Commission on securities and exchange in relation to ETFs, Draper forecast takes into account factors such as the regulatory framework and the growth of the sector.
Undoubtedly, the factor of institutional money that, sooner or later will join the cryptocurrency sector and related bitcoin projects, affects the opinion of Draper about the future of the market capitalization of $80 trillion, but he also believes that no lesser interest in digital assets will manifest and end users.
Draper is convinced that cryptocurrencies are able to make a way similar to the way the Internet, which is widespread and has become an integral part of almost any industry. In addition to its functions currencies, crypto-currencies represent a new form of digital asset and technology that will radically change not only the sphere of Finance.