In a debate that has gone viral, Tim Draper has portrayed Bitcoin to be the most significant development in human history. The arguments for the support of Bitcoin were at the Intelligence Squared US debate presented in partnership with Manhattan Institute’s Adam Smith Society in New York City.
Tim Draper is a force to reckon with when it comes to cryptocurrency enthusiasm. His debate about Bitcoin sparked a lot of positivity surrounding Bitcoin sentiments around the world.
Tim Draper is known for early investments in Tesla, Hotmail, and Skype. He has now found Bitcoin to be the best bet regarding investments.
“This is bigger than the internet. It’s bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution. This affects the entire world and it’s going to be affected in a faster and more prevalent way than you ever imagined,” Tim Draper said.
The debate was alongside Overstock CEO and Bitcoin bull Patrick Byrne against two crypto skeptics.
Tim Draper voiced that in five years time Bitcoin will replace traditional government-backed money. He hysterically said-
“In five years you are going to try to go buy coffee with fiat currency and they are going to laugh at you because you’re not using crypto. I believe that there will be a point at which you will no longer really want any of the fiat currency.”
Early April he stated that cryptocurrency should replace the Indian rupee and that the Reserve Bank of India has made the wrong move concerning the Bitcoin culture taking over the world.
Tim Draper even commented that Bitcoin is likely to be the best in the long term compared to the remaining altcoins.
Patrick Byrne, CEO of Overstock.com was in full support of Bitcoin alongside Tim Draper at the debate.
“This has been hacked at more than anything in history and has never been defeated. Last I checked, banks get hacked too. And yeah, Bitcoin is used by unsavory characters. Last I checked, they used U.S. dollars too,” Byrne debated.
Tim Draper is known to be a risk taker, but his risk taking has seen to pay off. Back in 2014 during the U.S Marshals Service auction, he bought 30,000 Bitcoins. He has confirmed that he is still holding on to the 30,000 Bitcoin. If this is true, it will be equal to $7,500,000,000 ($7.5 billion) if his predictions about Bitcoin reaching $250,000 by 2022 are right!
Image Source: “Flickr”