Silicon billionaire Tim Draper predicts that the market capitalisation will increase by four hundred times during the coming years.
Tim Draper is a billionaire investor, bullish on Bitcoin and has made several predictions before. He is known for early investments in Tesla, Hotmail, and Skype. He has now found Bitcoin to be the best bet regarding investments. A few months ago Draper stated that Bitcoin is the best development ever. He even said that Bitcoin might be the most significant development in human history and that the revolution is bigger than the internet.
Even though the asset class is highly volatile, Draper also said that Bitcoin could be regarded as one of the most secure places to store your money and one of the top placements for investors. He mainly praised Bitcoin and the blockchain for its intrinsic properties when it comes to security, effectiveness, practicality, as well as it is a decentralised network.
Draper has earlier predicted a market capitalisation of around $100 trillion and argued that he that a single Bitcoin will be worth around $250,000 in 2022. Draper argued that they are probable if one takes into account that fiat currencies could decrease in use, which Draper says is the case. Furthermore, Draper points to past innovations such as Lightening, Bitcoin Cash, Bitcoin Gold as examples of how cryptocurrency can grow and ”surprise us”.
In a recent interview with Deal Street Asia, Tim Draper suggested that Bitcoin and the cryptocurrency market will grow rapidly and reach $80 trillion during the next decade. The way blockchain and cryptocurrencies are behaving at the moment resemble that of internet a few years back before the technology took the world by storm.
“The internet started in the same way, it came in big waves, and then it came crashing down, and then the next wave comes concentrated but much bigger, and I suspect the same thing will go on here, with bitcoin”.
The new asset class has dropped in value during the whole year, but the current slowdown is happening because people are not yet accustomed to cryptocurrencies according to Draper. Once people become more familiar with it, the technology is bound to transform many huge industries around the world.
“I think it’s going to have such a transformative effect on industries that we never even imagined would be transformable. The internet went after industries that were 10-100 billion dollar markets; cryptocurrency will go after trillion dollar markets – these are finance, healthcare and insurance, banking and investment banking, and governments.”
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My name is Dennis Sahlström, I have been trading and investing since 2012 and have since June 2017 made between 3-6% a month. I have been watching the crypto market since the beginning of 2017 and saw the great returns a lot of people had gotten. I thought I needed to do my research! Since then I have been studying the crypto market and realised the great potential Blockchain have. Some say it’s internet 3.0 we are looking at and I am sure its here to stay. It is already changing industries and the world. Also, I am running a crypto education platform because I think people should educate themselves about the opportunities we have in front of us.