Billionaire Tech Investor Shows Full Support For Bitcoin

In Investments, News
Billionaire Tech Investor

Tim Draper, Silicon Valley Tech Billionaire, spoke at the CNBC’s “Closing Bell” that Bitcoin is “the best place to put your money.”

 

Probably what will probably become a far-reaching statement this year is the vote of confidence from an accomplished American venture capital investor and founder of the firm known as Draper Fisher Jurvetson (DJF) once again come out in strong advocacy of Bitcoin.

 

Draper’s pronouncement this past Thursday that Bitcoin epitomizes one of the most booming methods of capital. This is not the first time the capitalist has shown his support to cryptocurrencies— nevertheless, his statements hold some deep belief as he featured the security and reliability of the Bitcoin blockchain.

 

As Draper told the “Closing Bell” hosts explaining that there is a drastic action taking place that is now granting access to a better currency that is more secure, decentralized, far more effective, useful, and global. It’s available to anyone around the globe without any big friction.

 

He also finds it daffy to think that not everyone agrees, of course, to his preference for treating cryptocurrency as a gold-standard over fiat currency.  Further giving his reasons, even right now our banks are being assaulted all the time and hackers jabbing pinholes in your banks going after fiat money.

 

Considering the state of fiat currencies in other countries with fracturing economies, Draper noted that if you are in Argentina or Venezuela or Nigeria, you know that your currency is going to decline 30 percent yearly because their countries tend to collapse inward every year and a people lose their fortune well.  

 

But if your affluence is put into bitcoin, you are not going to lose your fortune and what a better opportunity for people to place their business affairs unaffected by political impulse.

 

The billionaire investor made a point of how the blockchain holds more leverage over fiat currencies since its unfettered by political whims, more secure, decentralized, more effective, more useful, global and open to everyone.

 

What do you think? Fiat currency and Bitcoin, is there really a contest?

 


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