Tim draper, a known Bitcoin enthusiast recently expressed the opinion that only criminals will be using Fiat currency in 5 years’ time because crypto will have been widely adopted by then. Tim draper made these claims in an interview with American financial news channel Fox Business on Feb 18.
Tim draper has been known for his ambitious crypto predictions and went on to reiterate his previous statements where he insisted that fiat currency was set to become laughable and obsolete in 5 years. Draper elaborated on his assertion that only criminals will be on fiat in half a decade’s time by saying;
“The criminals will still want to operate with cash, because they catch everybody who is trying to use Bitcoin.”
He basically meant that fiat will only appeal to criminals in 5years since crimes committed through the Blockchain can easily be tracked.
In August last year, a US drug enforcement administration agent (DEA) said that she preferred people to keep on using crypto’s since the Blockchain provides tools to identify criminals.
While at the Fox business interview, Draper expressed belief that his Bitcoin holdings were more secure than the money he had in the bank. He said;
“My bank is constantly under a hack attack,” while also adding that nobody had managed to hack Bitcoin’s Blockchain.
When asked about how much Bitcoin holdings he has, he responded by saying “a lot”
Draper’s sentiments second Young Bitcoin millionaire Jeremy Gardener’s sentiments that the existing financial system was more culpable for things such as terrorism than Blockchain will perhaps ever be.
Tim draper must be highly animated due to the recent surge in Bitcoin prices, in light of his $250,000 a coin price prediction by the year 2022. Such a surge seems like a long stretch at the moment but only time will tell how much Bitcoin can rally in the next 3 years.
