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Billionaire Tim Draper: Only Criminals Will Use Fiat Money, As Cryptos Will Hit Mainstream in Next Few Years
Published 15m ago via cryptoglobe.com
CryptoGlobe via cryptoglobe.com
Legendary billionaire venture capitalist, Tim Draper has predicted that in the next five years, fiat currencies will only be used by those involved in illicit activities. According to the well-known bitcoin (
BTC
) bull, cryptocurrencies will achieve mainstream adoption within the next few years - while fiat money will mostly be used by criminals. Draper’s comments came during an interview (on February 18th) with
Fox Business
in which he told the financial news outlet that cryptocurrency transactions can be tracked easily through block explorers.
Draper, who acquired 30,000 bitcoins during a US Marshals Service auction (after they had been seized from Silk Road’s black markets), remarked:
The criminals will still want to operate with cash, because they catch everybody who is trying to use Bitcoin. Last year in August, an agent working for the US Drug Enforcement Administration (DEA) had said that it was easier for her department to monitor cryptocurrency transactions - when compared to illegal deals conducted using fiat money. During his latest interview, Draper also mentioned that he thinks the fiat money in his bank account is not as secure as his cryptocurrency holdings.
"A Lot" Of Money Invested In Digital Assets
However, Draper pointed out that the Bitcoin blockchain is highly secure - as nobody has been able to hack it. Draper Sticks To His $250,000 BTC Price Prediction
In November 2018, Tim Draper
reaffirmed
his stance that he believes the bitcoin price will skyrocket to $250,000 by 2022. Draper’s remarks were in reference to the price of bitcoin reaching a quarter of a million dollars in the next 3 years.
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