There are many cryptocurrency enthusiasts and proponents out there, and with good reason. The potential for blockchain and cryptocurrency has been discussed for years now. However, there are some influencers that hold weight within the cryptocurrency world, and others that are powerful in general. One of those individuals is Tim Draper.
Timothy Draper is one of the most well-known venture capitalists in the world, thanks to his success in Silicon Valley. He was an early investor in both Skype and Tesla, and also has supported cryptocurrency for years now. In a recent interview, it appears that he is more pro-crypto than ever.
About The Interview
The interview aired on Fox Business on February 18, 2019, where Draper reacted to the fact that JP Morgan Chase was launching a cryptocurrency. Draper pointed out that we aren’t too far away from using cryptocurrency for “everyday purchases”, such as a cup of coffee, in the interview. He also pointed out that one could currently purchase “boats and planes and trains and whatever else” with Bitcoin (BTC).
Draper spoke highly of the Lightning Network, and stated that the network will make it much easier for overall mass adoption. Draper actually believes that in five years, fiat currency will be considered strange, stating that he believes after that time, the “barista will laugh at you” if you attempt to purchase with fiat. He stated that criminals might still use cash, which is quite the twist on finance executives claiming that cryptocurrency is used (and will continue to be used) for criminal activity.
Draper And Crypto
For those that are unaware, Tim Draper is important to the cryptocurrency sector because of his solidified reputation in Silicon Valley, and also because he was one of the few individuals that accurately predicted the price action of Bitcoin five years ago.
He also infamously purchased 30,000 Bitcoin from the cryptocurrency seized when the FBI shut down Silk Road years ago. Draper even stated that he personally feels that his money is less secure in banks and believes that his Bitcoin holdings are more secure.