Cryptocurrency will Replace Fiat Currency in Future – Tim Draper

Cryptocurrency will Replace Fiat Currency in Future – Tim Draper

If you are a crypto user or investor then you must’ve heard the name of Tim Draper who is an American venture capital investor and inspiring entrepreneur made a prediction that the popular cryptocurrency Bitcoin will hit $250,000 by the year 2022. Before that he made another prediction that Bitcoin would be worth around $10,000 in 3 years. And it was not wrong. Bitcoin hit the mark of $10,000 and according to the source, the Bitcoin reached an all-time high of $19,783 last December in the year 2017.

In the meantime, the Tim hasn’t made any predictions until last month when he made another prediction while introducing his new book How To Be The Startup Hero: A Guide and Textbook for Entrepreneurs and Aspiring Entrepreneurs.

According to Tim Draper, the cryptocurrency will eventually replace the fiat currency. It is just the matter of time. Tim’s book is about his belief of crypto replacing fiat currency.

In Tim’s book, Tim specifically talks about the hero who goes along. According to Tim Draper, a ‘hodler’ is a real hero who doesn’t worry about short-term losses in believing to achieve big in long-term.

Just to remind you, Tim is also a ‘hodler’ and believes that long-term gain is what every investor should approach for. Only then everything goes a long way from being an entrepreneur to just living your life. On asking, how he come up with the number $250,000 by 2022, he said that Bitcoin is a reliable cryptocurrency and it will be easy to use it in future. This is why he invested in the Bitcoin. Some countries banned Bitcoin and some hasn’t come to the decision. But, many countries gave warm welcome to the cryptocurrencies like Bitcoin.

Since the countries who are allowing it, people there will be able to spend cryptocurrencies like Bitcoin in mainstream situations and sooner or later, it will practically replace the credit cards and fiat currencies. Moreover, you will have the facility to access on your phone. In doing so, one day, fiat currencies will be replaced by cryptocurrencies and very soon Bitcoin might end up with a 20% to 30% market share.

But, don’t be so excited. Because it could take around one or more decades to see this happen, in the meantime we are going to see Bitcoin at $25,000 by 2022.

That’s not all. The well-known venture capitalist also appreciated the blockchain technology and considered it as a “perfect ledger”. According to him, the Bitcoin Blockchain hasn’t been cracked yet and it is safer with Blockchain as a third party than fiat currency.

The Bitcoin has a potential to change the history of big industries that have been government regulated. The sudden success it achieved over the years and potential to change the history, what started Tim to invest in cryptocurrencies. In his opinion, we should purchase a small amount of cryptocurrency or put some crypto on the ledger for future.

So, that whenever we want, we will be able to hold all our money in our hands with ease.

By – Advisorymandi is India’s First Stock Market Advisory Marketplace. It provides a unique platform to investors, traders and SEBI Registered Analysts. These analysts provide their best advisory in equity, currency, commodity and many more specifications of the stock market. It is a unique platform between advisers and traders/investors where they can easily connect with each other for the stock market, commodity, and Forex market-related information, guidance, and advisory etc. It is the platform which provides pragmatic and unfathomable research and advisory in the stock market, commodity market, future & options, and currency market.

Share this post

Post Comment