Bitcoin facilitates a global economy, says Tim Draper


Venture capitalist Tim Draper continues his bullish talk about Bitcoin in some investment tips for those new to the crypto space.

At the Collision web summit yesterday, Draper said that Bitcoin (BTC) could incentivize governments around the world to compete for the attention and commitment – and seemingly money – of its citizens. According to the venture capitalist, crypto is leveling the playing field, so that legislators would have to choose between making people’s lives better or simply moving them to a place where that would happen.

“People are already realizing that they would rather have Bitcoin than fiat currency,” said Draper. “Bitcoin facilitates [a global economy] from an economic point of view, because it is a global currency – it doesn’t matter where the borders are. It is not tied to one or the other nationality. “

Screenshot from Collision

He said interested visitors to Collision can participate in the crypto economy by getting a digital wallet, which encourages women to “dip their toes in the water” with this move. A recent report by crypto exchange Gemini indicated that more women than men in the United States were interested in getting into crypto, while a report from the World Economic Forum suggested that women are under-represented in industries related to blockchain technology.

“It turns out that only one in fourteen Bitcoin wallets is owned by a woman,” said Draper, pointing out that women control 85% of retail spending in the United States.

Draper, a huge Bitcoin bull, has said he keeps “much” of his portfolio in BTC after leaving public stocks in favor of crypto two years ago. Last year, he predicted that the cryptocurrency price would reach $ 250,000 by 2023, claiming that he would eat a raw egg if not. At the time of publication, the BTC price is $ 51,773, down 6% in the last 24 hours.