There are many people who can tell us about the benefits and benefits of BTC. However, this becomes interesting when you are someone who owns it in large quantities and who has basically built their life on it. This is the case of Tim Draper, one of the most optimistic about Bitcoin. Learn more about his vision here.
Tim Draper is the founder of global venture capital firm Draper Associates and the Draper Venture network. In addition, he founded Draper University of Heroes, a for-profit school that teaches entrepreneurship, which operates online and in Silicon Valley.
In a recent interview, Draper answered some questions that allow us to better glimpse his vision.
The start of it all: Tim Draper on Bitcoin
Draper commented that despite his interest in cryptocurrencies officially starting in 2010, the idea of digital money had been around his head since 2001 or 2002.
Specifically, he commented that the idea of a world where digital became important arose when he met a Korean businessman who paid someone to play online for him, while he was working.
“That meant to me that there would be a virtual version of everything, virtual real estate, virtual healthcare, virtual money.Draper said. Therefore, by the time Bitcoin appeared, he already had time hanging around the idea.
Thus, his interest deepened until the opportunity to buy BTC in large quantities at an auction made by the United States Marshals Corps came. To do this, Draper made an offer above the market. With this he obtained almost everything auctioned.
What is the advantage that Bitcoin offers, that cryptocurrencies do not?
People are more familiar with BTC than before. According to Draper, Bitcoin has a better performance than fiat currencies and for this he gave as an example the impression of four billion dollars that the US government made.
According to Draper what happened is that “They diluted the dollar by 20%. My dollars are declining in value as we speak regarding Bitcoin and other investment products“
To this he added “There are only 21 billion Bitcoin out there. It makes a lot of sense to hold onto Bitcoin. You don’t want to keep dollars” Draper certainly sees the future tied to digital currencies.
“The best place to put my money is in Bitcoin.”
How does Draper respond to criticism of Bitcoin?
Misconceptions about Bitcoin abound, according to Draper. To correct them, he maintained that “People say it is used for criminal activities, and it is just the opposite. They are catching all the crime. If you are a criminal you should use cash“
Criminals could get some Bitcoin through some illicit activity, but then that wallet can be easily detected and signed. After that, no one can take money out of that wallet.
“The Bitcoin blockchain has never been hacked. But banks are being hacked all the time. “
Additionally, regarding Bitcoin’s volatility, Tim said he sees it the opposite way. “A Bitcoin is still worth a Bitcoin, but over time all the other currencies are slowly fading“
Tim Draper’s stance does not seem to change in the near future, since he believes that in a globalized world this transparent and cross-border currency will be more and more necessary.