American venture capital investor and Tim Draper claimed that (BTC) is “bigger than the internet,” and several other major developments in human history, during the in New York City this Saturday, today April 23.
During the debate – which Draper undertook alongside Overstock CEO and bitcoin bull Patrick Byrne and against two crypto skeptics – the billionaire investor compared bitcoin, and evidently Blockchain in general, to his early investments in , Hotmail, and . He went further by stating that bitcoin would be “bigger than all of those combined,” and that the scale and importance of bitcoin and the technology behind it exceeds that of major technological developments in human history, saying:
“It’s bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution.”
Draper also voiced his prediction that in five years time, no one will be using :
“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.”
As of December 2017, the venture capital investor was still holding around 30,000 bitcoins that he bought in a US in 2014, CNBC reported. If Draper is still holding his BTC today, the investment is worth almost by press time.
At the Intelligence Squared debate, Draper also spoke on bitcoin market dominance, claiming that the largest cryptocurrency is likely to win the “long-term crypto battle” against . Meanwhile, BTC dominance, or the percentage of total market cap that is bitcoin’s, is currently around , down from its .
Earlier in April, during a speech at his own Draper University, the VC tycoon predicted BTC will hit a whopping in the next four years. Draper also recently sat down with Cointelegraph for a “, in which he claimed that “bitcoin is clearly the leader” among cryptocurrencies.
Serious interview.
— Tim Draper (@TimDraper)
Published at Tue, 24 Apr 2018 00:16:11 +0000
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