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Despite the fall of the crypto market and the sharp fall in the price of Bitcoin, Tim Draper, venture capital and permanent, remains too optimistic for the future of crypto-currencies. Meanwhile, Bitcoin's dominance has increased since the first week of November.
Draper: To attach to old currencies is a mistake
Speaking to Mike Green of Thiel Macro on the sidelines of the World Crypto Con in Las Vegas earlier this month, venture capital investor and investor in cryptocurrency, Tim Draper, predicted that digital currencies will eventually account for up to two-thirds of the value of the world currency.
He also pointed out that crypto-currencies are easy to use and cheaper, which should be enough to allow widespread adoption.
Later, when we can easily spend, invest or do whatever we want with crypto-currencies – they do not cause friction, they cost you less. […] I mean, just by that, just that it's cheaper, it'll be better for people. And so they will move to crypto, and they will move away from the political currency – they call it fiat. – He said.
Draper believes this is the main reason why Bitcoin (BTC) has 00 future increase in value.
That's how it's going to move. And so, thinking countries say that's how it's going to be. So we are going to make a big mistake trying to hang on to our old currency. – Describes the investor.
Interestingly, Draper recently re-confirmed her $ 250,000 Bitcoin price forecast by 2022, saying she was "absolutely solid" on the Web Summit stage.
The domination of bitcoins on the rise
After falling to around 51% by the end of the first week of November, Bitcoin has gained a dominant position – its market capitalization percentage across the cryptocurrency market has now returned to a 53% increase .
This decline came in a context of sharp decline, the forerunner of the market having lost nearly $ 1,000 in value over the past seven days alone.
What do you think about Draper's positivity and the increased domination of Bitcoins? Do not hesitate to let us know in the comments below!
Images courtesy of CoinMarketCap, Shuttertock.
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