Venture investor-billionaire Tim Draper (Tim Draper) is loyal to his forecast of prices of bitcoin in 250 thousand by 2022.
The first known advocate of bitcoin made it in April of this year, then confirmed, noting that BTC is significant more than the Internet, Iron age, Renaissance and Industrial revolution.
In an extensive interview to the business edition of TheStreet Tim Draper spoke about his views on the development of the cryptocurrency market, ICO, regulation in this sphere. He also explained, based on his confidence of such a significant increase in the price of bitcoin in the next four years.
“I expect that cryptocurrency will increase the velocity of circulation of money. The current global Forex market of $86 trillion will grow to about $140 trillion over the next 10 years, and this is the growth in cryptocurrency. In fact, I estimate that the amount of Fiat money in circulation will be reduced, and that the crypt will be $100 trillion of the market. I expect that bitcoin will take approximately 10% of the amount or $10 trillion. Lots of space for growth,” said Draper.
He noted that other cryptocurrencies also “will rise and surprise us.” Their use will be expanded as technology improved, said the billionaire. The Draper continues to see the future of bitcoin and other crypto-currencies as means of payment — just as, for example, Jack Dorsey (Jack Dorsey) or Steve Wozniak (Steve Wozniak).
“Previously, the bitcoin blockchain was too slow to do a small transaction, so he was better as a store of value. But what happens is that over time more technology to make it easier for us to use. We have already had the introduction of Lightning, the Bitcoin Cash Bitcoin and Gold, and I think that ultimately, these crypto-currencies will be used everywhere, since the engineers do their job faster and more useful,” said venture investor.
Recall that Tim Draper has repeatedly expressed the view that in the next five years cryptocurrencies will replace Fiat money.
“Five years from now you will go and try to pay Fiat money for coffee at Starbucks and the Barista will laugh at you,” he said in March.