‘Bitcoin Is Bigger Than The Internet’ According To The Billionaire Investor Tim Draper

The billionaire investor and a Silicon Valley venture capitalist Tim Draper rececntly unveiled new bullish statements about Bitcoin’s potential. As a founder of Draper Associates, Draper is in the news and has become famous for his early backing of the tech sensations Tesla, Jobs.com as well as Skype.

However, when asked about Bitcoin, Draper is confident that it is a technology that surpasses everything. During the Intelligence Squared/Manhattan Institute US panel discussion and debate, Draper was asked about how his investments in tech compare to cryptocurrencies.

To this, Draper responded:

“This is bigger than the internet. It’s bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution. This affects the entire world and it’s going to be affected in a faster and more prevalent way than you ever imagined.”

In the recent past, Draper made headlines for his bullish statement. He then forecasted Bitcoin’s price – as one with a potential to reach $250,000 by 2022, something that he repeated on several occasions. In his own words, Draper then said:

“In five years you are going to try to go buy coffee with fiat currency and they are going to laugh at you because you’re not using crypto. I believe that there will be a point at which you will no longer really want any of the fiat currency,”

When asked about Bitcoin and some of the views on it as a bubble, Draper responded:

“The whole premise of ‘is it a bubble?’ is ridiculous. Our last bubble … the internet bubble … Was that a bubble? You guys still use the internet. That was no bubble. That was an amazing transformation of our world,”

Last but not the least was the question linked to crypto security. For this topic, he was joined by his co-panelist Patrick Byrne (founder of Overstock.com and CEO of tZero). Together, they came to a conclusion. Byrne said:

“This has been hacked at more than anything in history, but it’s never been defeated. Last I checked, banks get hacked, too,”

To this, Draper added:

 “I am so much more secure in my bitcoin than I am in the money that is sitting there in Wells Fargo.”