Venture capitalist Tim Draper explained that he is confident that Bitcoin (BTC) will gain mass adoption despite the recent crypto bear market.
Coinbase, hotmail, Skype, Tesla and twitterVenture capital investor Draper, who is positioned and positioned before many investors in . He likens it to the 1929 crisis on Wall Street.. But he also states that Bitcoin has a strong technological structure to overcome this.
Draper said in a recent interview that once the general public understands that Bitcoin is a viable option for everyday purchases, they will start using cryptocurrencies massively. Continuing the interview, he continued as follows:
Massive masses will come to the cryptocurrency market very soon, and once they do, it will all happen at once.
Think of the times when you could buy your food, clothes and house with Bitcoin. There would be no reason to stick with the fiat currency because it’s not that good, it’s tied to some kind of political power and has to go through the banks. Bitcoin has much less friction and is also global.
Draper predicts that consumers will lose their trust in the dollar over time and instead see Bitcoin as a more reasonable option and turn their investments in this direction.
I am a firm believer in Bitcoin. I have continued to buy Bitcoin over the years, and I feel that at some point there will be some kind of escape from the dollar.
Billionaire Draper added that while larger governments see Bitcoin as a threat, economically weaker countries will consider the financial opportunities Bitcoin offers.