Bitcoin Millionaire Tim Draper: Cryptocurrencies Will Replace Fiat in 5 Years

crypto hedgeIn five years time, fiat currencies are no longer going to have any use as cryptocurrencies replace them. That’s according to venture capital investor Tim Draper.

At the WebSummit conference in Lisbon, Portugal, Draper was speaking with Forbes. Expressing his views on where he sees the digital currency market, he said:

In five years, if you try to use fiat currency they will laugh at you. Bitcoin and other cryptocurriences will be so relevant … there will be no reason to have the fiat currencies.

Draper, founder of Draper Fisher Jurvetson (DFJ), an American venture capital investment firm, has led investments in Twitter, Skype and Tesla. Now, he’s turning his attention to cryptocurrencies.

This is evident by the fact that he purchased 30,000 bitcoins during a government auction of assets seized from online darknet Silk Road in 2014. At the time, those coins were worth $20 million. Today, they are valued at over $214 million.

 

Bitcoin has experienced unprecedented heights during 2017. In the last few weeks, alone, the currency has surged to above $7,000. It was within touching distance of the $8,000 barrier yesterday at the news that the SegWit2x upgrade protocol had been suspended.

Remaining confident in the future of cryptocurrencies, Draper believes that the fiat system will eventually disappear as people look toward coins like bitcoin or ethereum. According to him, they remain reliable stores of value compared to the fiat system. His reasoning behind this is the fact that fiat currencies are bound by country borders. As an example, he cites the Nigerian Naira, which drops 30 percent when a person crosses the border.

While this may be the case, there are a significant number of altcoins in the market. CoinMarketCap puts that figure at 986 which have a market value. New ones are continually being created, all of which are claiming to provide a new solution to how we conduct our day-to-day lives. Despite this, though, the large number of cryptocurrencies in the market isn’t worrying Draper. In fact, he thinks that they will eventually all work together at some stage.

They’re all going to interrelate … and there will be exchange rates for all of them. My guess is that it will centralize around a wallet that you have, and when you pay for that Starbucks, your wallet will optimize to whichever currency has most value.

It remains to be seen if and when that happens, but from someone who has led investments in prosperous companies such as Twitter, Skype and Tesla, Draper may be on to something.

Comments

Supplier sch 40 Supplier sch 40 Supplier Plat kapal besi baja bki krakatau steel Supplier besi Pipa sch 80 baja jual hp asus murah jual hp asus murah Supplier besi beton Sni Ulir Polos undangan pernikahan ala jepang Pabrik Besi Pipa Baja Schedule 40 Toko Besi Unp Baja Supplier besi wf jual laptop asus jual laptop asus jual laptop asus murah jual laptop asus murah www.jualbesibajamurah.com Toko sch 40 Toko sch 40 Supplier besi siku Toko besi Pipa sch 80 baja Supplier besi wf baja undangan pernikahan islami Pabrik Pipa Besi Hitam Medium Jual Besi Unp Baja Toko besi wf Distributor besi beton Sni Ulir Polos polos ulir Agen sch 40 Agen sch 40 Supplier pipa besi baja sch 40 sch 80 Agen besi Pipa sch 80 baja Supplier besi unp undangan pernikahan ada fotonya Pabrik Besi Wf Harga Besi Unp Baja Agen besi wf Distributor besi beton sii Pabrik sch 40 Pabrik sch 40 Supplier Plat besi Pabrik besi Pipa sch 80 baja Supplier besi siku undangan pernikahan simple undangan pernikahan ala india Pabrik Besi H beam Pabrik Besi Unp Baja Pabrik besi wf Distributor besi beton psi Ulir Polos Distributor besi Pipa sch 80 baja Distributor besi Pipa sch 80 baja Supplier besi h beam Distributor Plat Bordes Supplier Plat besi plat kapal undangan pernikahan Pabrik Besi Beton Distributor Besi Cnp Baja Distributor Besi Beton Distributor besi beton perwira Harga besi Pipa sch 80 baja Harga besi Pipa sch 80 baja Supplier besi wf Harga Plat Bordes Supplier besi h beam baja undangan pernikahan simple www.sentrabesibaja.com Supplier Besi Cnp Baja Harga Besi Beton Distributor besi beton PAS Jual besi Pipa sch 80 baja Jual besi Pipa sch 80 baja Supplier wiremesh Jual Plat Bordes Supplier besi cnp undangan pernikahan bermanfaat Distributor Welded Beam T beam King Queen Cross Castellated Beam Agen Besi Cnp Baja Jual Besi Beton Distributor besi beton master steel ms Supplier besi Pipa sch 80 baja Supplier besi Pipa sch 80 baja Supplier besi unp Supplier Plat Bordes www.gudangbesibaja.com undangan pernikahan islami Distributor Bondek Cor Toko Besi Cnp Baja Supplier Besi Beton Distributor besi beton ksty Toko besi Pipa sch 80 baja Toko besi Pipa sch 80 baja Supplier besi cnp Toko Plat Bordes Pabrik besi Wf Baja undangan pernikahan amplop surat Distributor Atap Spandek Sni Jual Besi Cnp Baja Toko Besi Beton Distributor besi beton krakatau steel Agen besi Pipa sch 80 baja Agen besi Pipa sch 80 baja Supplier besi hollow Agen Plat Bordes Pabrik bondek undangan pernikahan bentuk dompet Distributor Plat Bordes Kembang Harga Besi Cnp Baja Agen Besi Beton Distributor besi beton jcac Pabrik besi Pipa sch 80 baja Pabrik besi Pipa sch 80 baja Supplier besi beton Sni Ulir Polos Pabrik Plat Bordes Pabrik wiremesh undangan pernikahan chinese Distributor Plat Besi Hitam Pabrik Besi Cnp Baja Pabrik Besi Beton Distributor besi beton interworld steel is Distributor Plat Bordes Distributor Plat Bordes ironsteelcenter.com Distributor Wiremesh Besi Pabrik pipa besi baja sch 40 sch 80 undangan pernikahan lucu Distributor Plat Kapal Bki Krakatau Steel Distributor Besi Hollow Baja Distributor besi hollow Distributor besi beton gunung garuda Harga Plat Bordes Harga Plat Bordes Pabrik stainless steel Harga Wiremesh Besi Pabrik besi hollow undangan pernikahan bagus Distributor Jual Besi Siku Baja Supplier Besi Hollow Baja Harga besi hollow Distributor besi beton delcoprima Jual Plat Bordes Jual Plat Bordes Pabrik atap spandek Jual Wiremesh Besi Pabrik besi beton Sni Ulir Polos undangan pernikahan bahasa inggris islam Distributor Besi Unp Baja Profil Kanal Agen Besi Hollow Baja Jual besi hollow Distributor besi beton cakra steel cs Supplier Plat Bordes Supplier Plat Bordes Pabrik baja ringan Supplier Wiremesh Besi Pabrik besi wf baja undangan pernikahan contoh Distributor Besi Cnp Profil Baja Gording Toko Besi Hollow Baja undangan pernikahan link6