Tim Draper: Bitcoin Enables A Global Economy

Venture capitalist and Bitcoin permabull Tim Draper is continuing his bullish dialogue on BTC in some investment tips for those new to the digital asset domain.

Talking at the Collision web summit, Draper mentioned that BTC might incentivize governments around the globe to contend for the consideration and devotion — and apparently, money — of its residents. As per the venture capitalist, virtual currencies levels the playing field, so policymakers will have to select if they want to make people’s lives better, or else they will merely move to somewhere that will.

Draper mentioned,

“People are already realizing that they would rather have Bitcoin than fiat currency.”

He added,

“Bitcoin facilitates [a global economy] from the economic standpoint because it is a global currency — it doesn’t care where the borders are. It isn’t tied to one nationality or another.”

While pointing out that females control around eighty five percent of retail spending in the United States, the Venture Capitalist mentioned,

“It turns out only one out of 14 Bitcoin wallets is owned by a woman.”

Two years back, the renowned Venture Capitalist mentioned that he holds a lot of his portfolio in Bitcoin subsequent to leaving public stocks in favor of digital assets. Last year, he forecasted that the price of Bitcoin would touch 250k USD by 2023, asserting he would eat a raw egg if it didn’t. At the time of publication, BTC’s price is 53,804 USD showing a gain of around 9% in the last 24 hours.