Fiat To Be Only Used By Criminals In 5 Years, Crypto Will Take Over: Tim Draper

By Prashant Jha

Tim Draper, the widely known billionaire investor and enthusiastic Bitcoin proponent has backed up his aggressively pro-Bitcoin stance with a new statement. In an interview with Fox Business, a financial news television channel in the United States, he has opined that in about five years, fiat will be used only by criminals as cryptocurrencies gain widespread acceptance and adoptability.

In arguing for this belief that he harbours so strongly, Tim Draper opined:

“The criminals will still want to operate with cash, because they catch everybody who is trying to use Bitcoin.”

Earlier also, Draper has made rather optimistic assertions about the future that lies ahead for Bitcoin and other cryptocurrencies.

Much like Coinbase CEO Brian Armstrong or Tyler and Cameron Winklevoss of the Gemini Cryptocurrency Exchange and many others, Draper has always been particularly bullish on Bitcoin. His enthusiasm has in fact extended to other crypto coins as well.

In earlier interviews, speaking of the future of all cryptocurrencies, Draper had stated:

“They’re all going to interrelate … and there will be exchange rates for all of them. My guess is that it will centralize around a wallet that you have, and when you pay for that Starbucks, your wallet will optimize to whichever currency has most value.”

Clearly, his bullish sentiments on the crypto market holds, even when the market refuses to rise to his expectations. While speaking about the future of Bitcoin adoption in the interview with Fox, Draper essentially reiterated what he had said to Forbes earlier. He had said:

“In five years, if you try to use fiat currency, they will laugh at you. Bitcoin and other cryptocurrencies will be so relevant … there will be no reason to have the fiat currencies.”

Although Draper’s immense confidence that Bitcoin will turn fiat obsolete within such a short term is ambitious at best, it is undeniable that enthusiasm from people like him is what keeps the crypto market pushing through the winds of winter.

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