While over the previous year some investors were gradually losing their belief in the bright future for Bitcoin and other cryptocurrencies, serial VC investor Tim Draper has always been rather confident in his optimistic predictions. And just recently he has reaffirmed his positive vision. According to him, by 2023 Bitcoin will have won a 5% market share of the entire world.
Future of Bitcoin
Some people may say that Draper has his head stuck in the clouds with his predictions. Let us remind you that in February when the Bitcoin price was even really very far away from the record $20,000 height as BTC was traded for lower than $4,000, he insisted that in 2022 the coin would be traded for at least $250,000.
Nevertheless, Tim Draper was not going to change his opinion even at that time without mentioning the current moment when it looks like that the white stripe for Bitcoin has begun. At the time of writing the coin is traded for $6813.31 having gained 8.06% over the last 24 hours and Draper believes that the price growth will continue.
“It’s going to keep going because, I’m a believer than in four years, something like that, Bitcoin will be about a 5% market share of the Earth.”
“It’s a better currency, it’s decentralized, open — it’s transparent; everybody knows what happens on the blockchain,” explained Draper his position.
Having an extremely strong belief in the potential of this coin, Draper is even planning to expand the forms of his work with BTC and to establish a new fund. He disclosed some of his plans:
“I eventually want to have a fund where I take in Bitcoin and I fund everybody in Bitcoin and they pay their employees and suppliers in Bitcoin and then I pay my investors in Bitcoin. Because I would then require no accounting, no legal, no bookkeeping, no custody — it would all be done.”
Draper is known to be a great fan and supporter of BTC. However, he also says that other cryptocurrencies have good chances to grow as well but he believes that only the best and strongest projects will survive which means that in the future the number of coins will significantly reduce.
Draper and Facebook
The name of Tim Draper has been also associated with the stablecoin that Facebook is going to launch with the support of external investors. It was said that he had participated in the discussions linked to the project.
Nevertheless, just recently it has become known that Draper isn’t buying into it. According to Draper, the entire power in this project will be centralized which makes it just a business.
In general, it’s worth mentioning that despite the fact that Draper’s predictions may sound too unrealistic today, his name and his reputation make people believe and trust him. Nevertheless, only the time will show whether his predictions will make any sense.