Tim Draper, venture capitalist and a Bitcoin enthusiast, believes that the largest part of the foreign exchange market, estimated at $86 trillion, in future will be accounted for cryptocurrency.According to Draper, Bitcoin price prediction is very optimistic. For reference, his bitcoin price prediction in 2014 – Bitcoin price would hit $10.000 in 3 years. And it did!
Interview with Bloomberg
Responding to the question of Bloomberg reporter, whether he agrees that the price of bitcoin may soon fall below $ 1000, Tim Draper replied: “People ask me, ‘Are you going to sell your bitcoin ?’ and I say, ‘Why would I sell the future for the past?’”
At the same time, he stressed that in order for his predictions to come true, bitcoin should start to meet certain consumer requirements.
As is known, Tim Draper several years ago began to actively invest in bitcoin and believes that in the future, cryptocurrency will feature prominently in the world economy.
Draper purchased about 32,000 BTC as a result of auctions after the Silk Road closure in 2014. He paid Paying around $18 million at the time and now his asset in Bitcoin worth $310 million.
Reasons why Bitcoin is the future of currency
Draper shared his thoughts on why Bitcoin will cost more than what it is today.
He named at least 3 reasons why he thinks that Bitcoin is the future of currency.
First of all, Bitcoin doesn’t have any borders. You can go to any country and use it.
Secondly, Bitcoin is not subject to the caprice of a government. The price is defined by free market demand.
And thirdly, users can get round the traditional banking system, avoid supervision and huge fees.
Draper’s optimism in relation to cryptocurrency is unbeatable, said Bloomberg. He did not want to discuss the volatility of the cryptocurrency market either. He just focused on security issues.
“My Bitcoin is more secure than my dollars in the banks… my Bitcoin is very secure.”
“The Blockchain has not been hacked, whereas banks have been hacked over and over”, Draper added.
It is worth to remind that hackers are just switching from banks to the cryptocurrency industry because of higher earnings.An average attack on a financial institution brings cyber criminals about $ 1.5 million.
Only as a result of the recent cracking of the Japanese cryptocurrency exchange Coincheck hackers stole NEM tokens worth about $500 million.
Experts believe that cryptocurrency exchanges and bitcoin holders will be the main targets of cyber criminals in the near future.
Bitcoin exchange rate
Bitcoin exchange rate has overcome an important psychological level of $ 10.000 at the end of Thursday. On Friday, according to the CoinMarketCap, Bitcoin reached $ 10.313.
Experts note this fact that bitcoin has reached psychological mark of $10.000 is a good sign.
According to BitInfoCharts, a mysterious buyer bought an impressive amount of Bitcoin for $44 million at a price of about $ 8.400 for the period from 9 to 12 February 2018. In total, this Bitcoin whale doubled his Bitcoin asset, adding almost 41.000 coins. Now this user has 96.000 Bitcoins. The value of his bitcoin asset today is about $900 million. Nowadays this anonymous user takes the third place in the top 100 richest Bitcoin holder in the world.