Bitcoin, Crypto currency, Blockchain

Tim Draper: the Bitcoin price is on its way to $ 250,000 by 2022

5991b804cb04bb68bcd827d7e8beabe2 - Tim Draper: the Bitcoin price is on its way to $ 250,000 by 2022

Tim Draper: Bitcoin’s price continues to be on its way to $ 250,000 by 2022

Home News Tim Draper: Bitcoin’s price continues to be on its way to $ 250,000 by 2022

Of
Marcus Misiak –
29.10.2018

Tim Draper is a self-confessed Bitcoin-COP and known for his strategic investments as a venture capital investor in the crypto industry. On the Crypto Invest Summit in Los Angeles, venture capital billionaire said that he still believes that the price of Bitcoin a quarter of a million of US will reach by the year 2022 dollars.

Draper said that he is sticking to his forecasts, mainly because Bitcoin has the political nature of Fiat money, which is controlled by governments.

One after the Other. I’m just making a prediction, and to that I hold. And my prediction Bitcoin 250,000 USD by 2022. […] At the Moment, so there are 86 trillion dollars in political currency. They call it “Fiat”currency, but it is political. And I think that the currency will slowly be eaten up by a better currency, the global, decentralized and smoothly. It is a better currency. Bitcoin is a better currency. And I think Bitcoin will be the currency of five Crypto.

On the question of whether governments will not ban Bitcoin

We have seen how China has on the other hand is struggling and you have lost all of their entrepreneurs. Japan reacts to this and says: Bitcoin is a national currency in Japan. On a business point of view, we have seen Binance, the left with a 10 million market capital in China, because China made it illegal. Binance then went to Singapore, there were no significant regulatory measures. So Binance went to Malta. I think the countries are in competition with these successful companies. […] You say, which of these economies in the next 40 years, really well is run and what can’t.

What relates to the regulatory approach in the United States, the SEC is pursuing, so understands Draper, the importance of their decision for the crypto industry. The last, what would the SEC is to follow, in his opinion, the decisions that China has made.

I think the SEC is torn and I think it is okay, because you are torn, as they would run the scammers who take advantage of older people, and ensure that all of these technologies remain in the United States. You know it’s a competitive world out there.

Draper is of the view that the best way for the SEC to have this to hand, with a “light touch” would be the new investors can help to follow a simpler approach, if you enter the market. He even went so far as to say that the legislation should be a “one-sided document”, which describes the process of the creation of the ICO and the registration specifically.

According to Draper, crypto currency and Blockchain-technology more than the value of traditional currency to devour. He believes that they also offer a transformative opportunity to change the way governments around the world do business.

I think that the government can be transformed in this big, huge way. That is, you put all these technologies together. You have a Token that is global and decentralized. The Token is now in a perfect Ledger called the Blockchain, so that you need all these special accounting, since the accounting is already completed.

And then you can create Smart Contracts, so that all of these contracts are integrated in the Cloud, so that what should happen in a contract is done. And then you have Big Data. You will have the opportunity to apply this data to Supplement you with artificial intelligence and make decisions. Think about what a bureaucrat does. You can replace the whole of the bureaucrats by artificial intelligence, a Smart Contract, and the Blockchain.

The entire Interview you can watch below:

Title image source detection: https://www.youtube.com/watch?time_continue=1&v=_B-8r8fhHHY

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