Venture Capitalist & Investor, Tim Draper in a recent visit to Argentina, met with President Mauricio Macri and gave him a tip on how he could control the economic downfall of his country.
According to Cointelegraph, Tim recommended the Argentinian President to legalize Bitcoin and make it the national currency of the country.
On 20th March, both parties met and spoke about the potential of Blockchain and how cryptocurrencies can solve the economic problems of Argentina.
Draper is quoted here by Cointelegraph en Español:
“We were speaking of Bitcoin and the devaluation of the peso, and I proposed a bet: if the peso would be valued more than Bitcoin, I would double my investment that I was making for the country. But if Bitcoin gained a higher rate than the peso, they would have to declare it as a national currency. That would be a perfect decision, as there’s a lack of confidence in this coin.”
He believes that this would create a new Crypto-startup ecosystem that will propel people from around the world to migrate to Argentina to start their businesses thereby counteracting the brain drain.
He was interviewed by María Julieta Rumi, in which he boldly made claims that Bitcoin and blockchain are going to be greater revolution than the internet and it’s a good time to adopt Bitcoin in Argentina to rebuild the banking and financial systems.
He is also sticking to his claim that in five years, cryptocurrencies especially Bitcoin will be dominating the markets. As Bitcoin adoption goes mainstream and is in use like the USD or any other fiat currency, the value of the token will skyrocket to $250,000 by the year 2022.
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