A billionaire and venture capitalist Tim Draper said in the Coindesk Spotlight podcast that in ten years or even earlier Bitcoin would completely supplant the US dollar and become the main currency of the world economy.
In an interview with leading Christine Lee, the founder of the venture company Draper Associates Tim Draper said that, according to his forecast, by the end of this year, the market value of bitcoin could not only reach $ 250,000. And over the next decades, the value of the flagship Cryptocurrencies will become so “endless” that bitcoin will simply replace the dollar and become the main calculated unit of internal and cross -border calculations.
“In the near future, bitcoin will become the best technology that can replace both the traditional banking structure and all state currencies. Against the backdrop of mass loss of trust in national governments, a global transition to a bitcoin station will be inevitable, ”says Draper.
He justifies his forecast by several factors. Firstly, according to him, the United States experiences a crisis of trust in the dollar due to excessive emissions of money. Secondly, the decentralized nature of Bitcoin protects it from bursts of inflation, unlike stablecoins, which, according to Draper, are vulnerable due to binding to fiat currencies. He called the stablecoins a “temporary bridge to Bitcoin”, which will help people get used to digital currencies, but ultimately they will lose their attractiveness.
Thirdly, Draep is sure that Bitcoin will become a universal tool for paying for food, clothing, housing and taxes, which will make the dollar just an unnecessary link. He noted that large international financial structures are already beginning to store bitcoins along with fiat currencies, which will simplify the transition to accumulations and calculations in cryptocurrencies.
Earlier, the businessman said that the world is on the verge of time when people “no longer want dollars”, and each member of society will give preference to the flagship cryptocurrency.
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Source: Cryptocurrency
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