Earlier this month, famed cryptocurrency investor and crypto-celebrity Tim Draper spoke out about his views for the future of Bitcoin. Historically, Draper has been known to be very bullish about cryptocurrency. Of course, as an investor it does benefit him to be bullish.
In short, Draper believes that despite current forecasts and the trend of the last year, Bitcoin will climb beyond heights never before experienced, thanks to the bullish community of investors that sit behind it. Here’s a snippet of what Draper had to say earlier this month at the Salt Conference in Las Vegas:
“It’s going to keep going because, I’m a believer than in four years, something like that, bitcoin will be about a 5% market share of the Earth. It’s a better currency, it’s decentralized, open — it’s transparent; everybody knows what happens on the blockchain. I eventually want to have a fund where I take in bitcoin and I fund everybody in bitcoin and they pay their employees and suppliers in bitcoin and then I pay my investors in bitcoin. Because I would then require no accounting, no legal, no bookkeeping, no custody — it would all be done.”
Draper believes that by 2023, Bitcoin will represent around 5% of the entire globes market share, meaning that 5% of every single bit of money in the world would be Bitcoin. Is this a realistic concept? Possibly, though it would require a huge amount of adoption, very quickly.
Draper recognises that Bitcoin is a better currency than the majority of globally adopted cryptocurrencies. He believes in the decentralised service provided by Bitcoin and sees a future that allows him to carry out as many transactions and investments as he likes, without the need of a middleman, no accountants, no lawyers, no bookkeepers, just him, his investors and his money. This is exactly what Bitcoin promises us all and what Bitcoin aims to achieve.
Decentralisation allows for the removal of the middle man. With Bitcoin, users have control of their finances and don’t need to rely on central banks to moderate their money. Without these banks and with total control, we can become more responsible for our money and thus, can all become a little richer in the process. Draper believes that this reality is a little closer than we think and believes that a sudden Bitcoin adoption is soon to be encouraged by a huge surge in Bitcoins value.