Billionaire venture capitalist says bitcoin will be bigger than Internet
From Truth in Media:
Billionaire venture capitalist Tim Draper claims that bitcoin could be bigger than the Internet.
CNBC reported that Draper recently spoke at the Intelligence Squared U.S. debate presented in partnership with Manhattan Institute’s Adam Smith Society. Regarding the potential of cryptocurrency, he said:
“This is bigger than the Internet. It’s bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution… This affects the entire world and it’s going to be affected in a faster and more prevalent way than you ever imagined.”
Draper is known for his investments in Tesla, Hotmail, and Skype. However, when comparing those investments he said Bitcoin will be “bigger than all of those combined.”
Draper further claimed that bitcoin’s value will hit $250,000 by 2022, and stated that “in five years you are going to try to go buy a coffee with fiat currency and they are going to laugh at you because you’re not using crypto… I believe that there will be a point at which you will no longer really want any of the fiat currency.”
Draper isn’t the first major investor to make bold bitcoin predictions. John McAfee, founder of McAfee antivirus software and cryptocurrency advocate predicted in 2017 that Bitcoin would reach $1 million by the end of 2020.