I am buying more Bitcoin, says Tim Draper
Tim Draper one of most famous cryptocurrency investor, has revealed in an exclusive interview to TheStreet that his current portfolio consists mainly of Bitcoin and he plans to invest in more. Tim Draper had also predicted that Bitcoin will touch $250,000 by 2022.
“Cryptocurrencies are the next big technological tectonic shift and governments have to weigh their need to protect investors with their need to be included in this potential economic powerhouse that is crypto”, said Tim Draper when asked about whether cryptocurrencies should be regulated.
According to Mr. Draper, the current currency market is worth $86 Trillion and it will go up to $140 Trillion within the next 10 year. He says that majority of the growth will be through the rise of cryptocurrency. He also said that cryptocurrency will be worth around $100 Trillion with Bitcoin owning 10% of the market, which would make Bitcoin worth $10 Trillion.
“I’m not really interested in holding fiat, because it loses value over time.” – Tim Draper
Mr. Draper also mentions that Blockchain technology is more secure than any banking system in the world. And as the network grows the chain becomes stronger and harder to hack.
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