Tim Draper: ‘Crypto Market Cap To Hit $80 Trillion In 15 Years

In the latest Bitcoin news, we have another bull that gave his prediction on the price of Bitcoin (BTC) over the past two years. After Mike Novogratz came out with a statement that the cryptocurrency market has “found its bottom” and a big rally is ahead, it is now another bull named Tim Draper who said that the market cap will hit $80 trillion in 15 years.

As one of the biggest bulls out there, Tim Draper believes that the cryptocurrency market cap will increase by 400 times in the coming one and a half decades. As he warned though, the prices of cryptocurrencies will first have to drop before rising. The billionaire tech investor also addressed a new Deal Street Asia-sponsored private equity and venture capital summit in Singapore in a video link.

As Draper said:

“The internet started in the same way, it came in big waves and then it kind of came crashing down, and then the next wave comes concentrated but much bigger, and I suspect the same thing will go on here,”

As Deal Street Asia reported, Draper believes that the reason why the price of Bitcoin and other cryptocurrencies had fallen was due to ignorance. As people get accustomed to cryptocurrencies, various billion-dollar industries across the globe are transformed, Draper believes.

“The internet went after industries that were $10-100 billion dollar markets, cryptocurrency will go after trillion dollar markets – these are finance, healthcare and insurance, banking and investment banking, and governments,” Draper said.

This is not the first time for Draper to claim that cryptocurrencies and the blockchain technology have a revolutionary potential – even a bigger one than the Internet. Earlier this year, he stated that the transformative potential of blockchain would be bigger than the industrial revolution, the Renaissance and the Iron Age.