Tim Draper is a billionaire investor and well-known Bitcoin advocate. Now, Draper predicts that crypto-market capitalization will increase 400-fold over the next decade and a half.
He explained this as part of a video link at a conference in Singapore. Draper also compared the current state of the crypto markets to the early days of the Internet. However, he warned that Bitcoin and other cryptocurrency prices would have to fall before they would rise. So he said:
“The internet started the same way. It came in big waves and then collapsed a bit. The next waves came then concentrated, but much larger. I suspect that the same thing will happen here. “
Draper also said, according to DealStreetAsia, why Bitcoin and other cryptocurrency prices have fallen so heavily. As a reason he called “ignorance”. If people got used to it, several billion-dollar industries would change all over the world. However, there will be a big difference between the upheaval of the Internet and the blockchain and the cryptocurrency. Draper said,
“The Internet was targeted at sectors in markets ranging in size from $ 10 billion to $ 100 billion. The cryptocurrencies, on the other hand, are aimed at markets worth billions. These are finance, health care, insurance, banking, investment banking and governments. “
The current statements are not the first in which Draper ascribes greater potential for revolution to blockchain and cryptocurrencies than to the Internet. Earlier this year, he said:
“It's more important than the Iron Age, as the Renaissance. It's more important than the industrial revolution. “
In March, he had predicted that there would be no more fiat currencies in the future and that all would use cryptocurrencies.
Also regarding the course of Bitcoin, Draper has always been very confident. Five months ago, he had predicted that Bitcoin's price would reach $ 250,000 by 2022. It should be mentioned in this context that he had already said in 2015 that Bitcoin the end of 2017 will reach the mark of 10,000 USD. He was basically right with this prognosis, even though it proved to be too cautious.Also noteworthy is that Draper not only talks, but also invests himself. For example, in 2014 he spent $ 19 million on Bitcoin. With this sum, he bought 30,000 Bitcoin, which had previously been confiscated by the US Marshals Service. As things stand, Draper has been doing good business and earning over $ 170 million.
Sources: DealStreetAsia, Wales Express, Forbes, Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/tim-draper-marktkapitalisierung-von-bitcoin-ripple-eos-altcoins-wird-80-billionen-usd-erreichen/
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