Tim Draper: The benefits of Bitcoin will eventually convince every

The Dow Jones Industrial Average fell on Monday in order to 1.031,61 points, respectively, to 3.56%, the third-largest daily point drop in the 124-year history of the Dow Jones. During the US-breaking stock market, reveals the billionaire Tim Draper, that he dropped out six months ago, out of the market.

In an Interview In the Squawk Alley, CNBC, the founder and managing Partner of Seed-Stage venture capital firm Draper Associates, said that a majority of his wealth is in crypto-currencies.

I must admit, I’m about six months on the market. It felt, for me, quite sublime, and I’ve moved most of my stuff in crypto and Bitcoin. I think this is now a kind of safe haven, and I think that this correction is perhaps in the end more than that, but I think that we have an interesting journey.

In December 2019, Draper predicted that the price of Bitcoin will rise after the Halving in may on $ 250,000. The price of the crypto currency exceeded the beginning of the month, the 10,000-Dollar mark, but even with the following correction, which brought the BTC back to 9.575 dollars, says the venture capitalist who is a billionaire, that he keeps on his Bitcoin forecast.

I think that Bitcoin will reach in the year 2022 or early 2023 $ 250,000, even if it is a big step from where it now stands. I think the reason for this is that Bitcoin will be the currency of choice. Bitcoin is not so easy to move, but eventually it will be, and then you will have a choice. You said: “Hey, I want to pay the banks each Time, two and a half to four percent, if I pull my credit card?”, or “I Want a currency that is smooth, open, transparent, global, and not a political force bound?

I mean, that’s what it is. At some point, the people will change, and Bitcoin will be the big winner.

Draper is confident that Bitcoin will be the currency of the future:

The people are moving to things that are better. What dealer will want to pay his two and a half to four percent to the banks and the credit card companies? I mean, you don’t want to do forever. Eventually you will Hey, Hey, say: “this is Bitcoin, why do we not accept Bitcoin, because we can now use the Open Node, and the transaction takes place immediately, and it is faster than the Visa network, and we have to pay these people not two and a half to four percent.

With regard to the crypto-skeptics, such as Warren Buffett, who think that Bitcoin has no value, says Draper, that your fear is driving currencies, the negative attitude towards Crypto. He calls Buffett’s shareholdings in banks and insurance companies as reasons to lose why the CEO of Berkshire Hathaway, in a decentralized economy much.

He looks a big threat to his investments. His investments in banks and insurance companies in Berkshire Hathaway does not amount to more than 50%, so he wants this new currency clearly. Anyone who has studied it, knows that she is so much better than what we have out there. These currencies, which are tied to a Fiat-government, will, I believe, just a relic of the past. It will be as if you were using drachmas and Francs.

Featured Image: Frame Angel | Shutterstock