🏅Cryptomillionaire Tim Draper: in five years, crypto currency will take the place of fiat money🏅

in bitcoin •  14 days ago

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In five years, the use of state currencies will come to naught, as their place will be taken by crypto-currencies. This is considered by the venture investor Tim Draper (Tim Draper), who has large amounts in crypto-currencies.
At the Internet summit in Portugal, Draper spoke with Forbes, during the conversation he expressed his opinion about the future of the crypto-currency market:

'In five years, if you try to use the currency, you will be laughed at. Bitcoin and other crypto currencies will become very relevant ... there will be no reason to use the currency. '

Tim Draper is the founder of American investment company Draper Fisher Jurvetson (DFJ) and investor in Twitter, Skype and Tesla. Four years ago he drew attention to crypto-currency.

It is known that at one time he bought 30,000 bitcoins at a state auction of assets confiscated from the Internet market of Silk Road in 2014. At that time, the cost of coins was $ 20 million. Today their price exceeds 214 million.
This year, Bitcoin took unprecedented heights. Over the past few weeks, the price of crypto currency has exceeded the mark of 7000 dollars and almost reached 8000.

According to Draper, the system of official money will eventually come to naught, so people will turn to crypto currency like bitcoin and etherium. Draper believes that crypto-currencies will evolve into a more reliable means of preserving value in comparison with the fiat system. He confirms his thoughts by the fact that the official currency is provided by the borders of countries. As an example, he leads Nigerian Naira, whose value falls by 30% immediately after a person crosses the border.

Nevertheless, it must be taken into account that there is a very large number of altcoyins on the market. According to CoinMarketCap, they are now 986, and considering the little-known coins, their number is even higher, and new coins continue to appear. This amount of crypto currency in the market does not bother Draper. He believes that eventually they will all act together on the same stage.

'All of them will interact ... and for all, there will be exchange rates. I suppose that they will concentrate around your wallet, and when you pay at Starbucks, your wallet will choose the currency with the best value. '
Will this happen and when will time show, but the words of the person who made investments in such prosperous companies as Twitter, Skype and Tesla, have weight.

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🤗 source: from the author 🤗

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Thank you for sharing @johncobra

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