Tim Draper: Cryptocurrencies to dominate within 5 years

The bulls are back. And with them, the price prediction for Bitcoin is also back. John McAfee predicts when exactly will Bitcoin hit $1 million. The latest one to make a prediction is billionaire Tim Draper. In an interview on Fox Business, Tim Draper said that cryptocurrencies market will dominate within 5 years.

Tim Draper said,

“I think we are probably 2 years away before everyone is buying coffee With crypto” … “I made a prediction that in 5 years, we will try to go in and buy coffee for fiat money and the barista will laugh at you.”

Tim Draper is an early investor in Bitcoins and other cryptocurrencies. He is known for his price prediction of Bitcoin, that One Bitcoin will be worth $250,000 by the year 2022. He has reaffirmed this statement even in the crypto bear market.

He also praises the blockchain’s security, stating that Bitcoin blockchain is more secure than a bank. According to him, Bitcoins are just for criminal activities is an understatement. He says Fiat transactions are ultimately the transactions that can’t be traced whereas Bitcoins, on the other hand, can be traced easily.

“The criminals will still want to operate with cash as they catch everyone who tries using bitcoin for a crime. Not on the way in when the criminal receives the bitcoin but as soon as they want to spend it, those blocks are tagged and they’re going to all be prosecuted.”

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