“Bitcoin is a barrier against bad governance”: Tim Draper

Bitcoin bull Tim Draper is still very bearish and enthusiastic about crypto despite the bear market.
In Web Summit 2022, the billionaire VC debated that he is still on his word about his forecast that the crypto will strike $250,000 but now it is extended by six months now.”

Considering a Bitcoin tie, the Bitcoin bull stated that “by the sixth month of the coming year, I am anticipating to see the crypto touching $250,000.

Bitcoin: A barrier

You are witnessing inflation, they are battling inflation, and you are witnessing worse governance, he admitted, highlighting that he sees Bitcoin as a barrier against bad governance and we look to have many things of that happening.

Presently, the government wants to dominate each and every person. He justified his statement by giving an example and highlighting “the dumb guy in Russia who just decided to capture Ukraine or the dumb guy in China who is attempting to dominate and control his residents.

“You witnessed the conjecture quilt of the world’s largest cryptocurrency’s worth, Draper stated. Now, just the bitcoin holders are left and they are pretty much excited and enthusiastic about that, he further added. “And they assert, Hii, this makes a liberal world, it makes a more reliable world than before. It is the real currency and is not limited to banks, also it is not limed to governments. Interestingly, it is decentralized.”

Draper also highlighted that the coming Bitcoin adoption along with the complementing price increase will be influenced by women.

“Women are the ones who are going to take the bitcoin to $250,000, the billionaire stated. “And the factor behind this thing is that women are the one who looks after 80% of retail payments. Actually, you can not purchase your food, clothes, and shelter in Bitcoin, even now. But, once you start spending in Bitcoin then there will be no reason left to use the fiat currency, and then, there will be sort of an operation on the banks.”

Draper also addressed the fans of Ethereum and referred to Ethereum as a ‘kind of centralized’ and suggested that they keep printing more of it.

“That does not work along with Bitcoin, as there are just 21 million, that is the quantity there will be, he explained.

Concluding this, Draper seems to be enjoying the bear market. “This is really the foremost favorite time of mine to invest,” he disclosed.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing