Tim Draper: Cryptocurrency & Blockchain Will Conquer the World

February 10, 2018

One of the earliest supporters of cryptocurrencies, a famous venture investor Tim Draper stated that very soon crypto-related technologies,such as blockchain or cryptocurrencies themselves, will take over the world and become a basis of each trade operation.

Draper told Reuters: 

"I believe that Bitcoin and crypto will drive most of the commerce of the world. I don’t know why anyone would want to go back to fiat when crypto is distributed, secure and global, while fiat is subject to the whims of political forces."

Earlier in November 2017, Draper expressed his confidence in the future of cryptocurrencies and their market. He said at the time that fiat money will soon start to lose their value and in 5 years will be completely out of circulation. 

He told CNBC in November:

"In five years, if you go to a Starbucks or McDonald’s and try to buy a burger or coffee with fiat currency, the person at the counter is going to laugh at you."

According to various reports, Draper has invested in more that 40 cryptocurrencies. In fact, he invested in the infamous ICO of Tezos project, which raised more than $230 million, but have not been launched yet, due to the dispute inside the startup. However, Draper remains confident and believes in Tezos.

The investor said in an interview with Bloomberg:

"The Tezos team is awesome, and I have complete confidence in their ability to execute and create an amazing platform."

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