Tim Draper shared his opinion about bitcoin future during his conversation on Forbes WebSummit. He ensures that cryptocurrency will be the only valid payment method in future.
“In five years, if you try to use fiat currency they will laugh at you. Bitcoin and other cryptocurriences will be so relevant … there will be no reason to have the fiat currencies,” Tim Draper said.
Tim Draper is world know tech investor which earns money by investments in tech startups at its early stages of development.
Draper statement concerning bitcoin and other cryptocurrencies can be considered as a truth as he always makes right choice of the companies for investments. Tim Draper invested in such profitable companies as Skype, Tesla, and Twitter.
Moreover, Tim Draper made first investments in bitcoin in 2014. He bought 30,000 of them in a government auction of assets seized from Silk Road. Thanks to considerable bitcon price increase by over 1,000 percent in just three years, Tim Draper investments cost almost $214 million dollars today.
Investor continues to find new startups that can allow gaining profit in future.
In July, Tim Draper bought 10% of all Credo tokens during ICO. A new token called Credo aims to solve email spam problems, which cost the global economy around $20 billion per year.
Earlier, Tim Draper invested in blockchain startup Tezos, which ICO raised over $100 million dollars. Tezos was created as an alternative to Ethereum.