Venture capitalist and bitcoin maximalist Tim Draper explained why he is so confident in the successful future of the first cryptocurrencies. On Crypto Invest Summit in Los Angeles, he said that bitcoin is not political in nature unlike Fiat currency controlled by the States. About it reports The Daily Hodl.

According to Tim Draper, gradually replacing the existing $86 trillion of “political” money is coming to global and decentralized currencies — bitcoin. The investor once again confirmed its criptions that bitcoin will reach $250 million by 2022. He suggested that in the future bitcoin will occupy a strong position in the TOP-5 of cryptocurrency.

Draper also believes that the blockchain and crypto currency will abolish the role of governments in society.

“You can replace all the work of a bureaucrat artificial intelligence, smart contract and bloccano”, — shared his thoughts about the ideal future Tim Draper.

In addition, Draper noted that the Commission on securities and exchange Commission (SEC) is being torn apart over standing in front of her array of mechanisms and approaches to regulation of kryptonyte. Nevertheless, the SEC recognizes the importance of new technologies and market competitiveness, and according to Draper, this issue is unlikely to go in the footsteps of the Chinese regulator.

Bitcoin enthusiast believes that to regulate the industry enough to write a one-page law, which will be spelled out only the registration process and launch of ICO projects.

We will remind, in September, Tim Draper said that over the next 15 years, the capitalization of the cryptocurrencies will reach $80 trillion.