Tim draper the well-known businessman is a bit of a whimsical version of the whimsical John McAfee. The kind of guy who doesn’t show up at a boring shareholders’ conference or Sunday family meal.
He also shares with uncle Bertrand the same kind of vaguely annoying attraction for ties that are a bit kitsch! On the other hand, where your uncle proclaims to the world his immoderate love for Snoopy, Tim, it is Bitcoins that he sports!
Ah, there is still a little difference with Uncle Bertrand : Tim Draper is immensely rich! In fact, he is even a billionaire and part of his fortune comes directly from an intuition that he had years ago: the Bitcoin, this digital thing that nobody really understood was going to reach incredible value and even, according to him, upset the world economy.
Why when Tim Draper explains, the newbie listens:
Predicting the value that Bitcoin will reach is within reach of the first tocard to come. What matters is that the forecast is radical enough (in the sense of an astronomical rise or a hellish fall) to allow its transmitter to attract the spotlight.
In this exercise, 2018 was a great year! You can take a look at the craziest predictions around here, and decide which side of the line you want to stand on: $ 1 million as John McAfee (with the stake that we know about his dignity if he were to fail) or … peanuts according to Nouriel “Dr Doom” Roubini?
That you are budding trader or just a blockchain lover, run away from the plague like this. You do not know what interests their issuers serve (for example John McAfee is colorful and could give the image of coolness embodied … that does not prevent him from paying for his services in favor of crypto projects which are not always reliable).
But Tim Draper … it’s something else!
If it were necessary to retain only 2 feats of arms of the businessman, it would probably be these:
- In July 2014, it acquires at auction 32,000 Bitcoins from late judicial seizures-Silk Road, the dark web site. He gets his coins over $ 600. Despite the taunts when the price collapsed by 70% the following year (doesn’t that remind you of anything?), It held up well. His conviction: Bitcoin will see its value explode in the future.
- Also in 2014, he predicts the price will reach 10,000 USD, end of 2017… which turns out to be true within a few weeks! Who says better ?
Basing himself as much on algorithmic tools as on his convictions, Tim Draper has already demonstrated that his statements on the subject deserve better than a distracted ear. He therefore took the risk of joining the choirs of forecasters, for his part seeing a value of 250,000 USD for a Bitcoin by 2022-23
Bitcoin will represent 5% of the global economy in 2023
This is in essence what Tim Draper re-affirms today, and to do this, he goes on the very conservative chain FOX Business, during a larger interview where he also expresses his great confidence into Facebook’s strategy.
“I firmly believe that in something like, say 5 years, Bitcoin will represent 5% of trade worldwide”
Tim Draper, interviewed by Fox Business May 8, 2019
He also took advantage of the interview to renew his forecasts of a Bitcoin at $ 250,000 on the same date.
A little math
According to the World Bank, world economic exchanges represent today about $ 77.3 trillion.
5% of this amount represents 3 865 billion dollars which, according to friend Tim, would constitute the perimeter of the economy likely to be backed on Bitcoin.
Considering that the Market Cap of our favorite crypto currently stands at “only” 116 billion, the margin of progress makes you dizzy!
Nice to meet you, it’s Hellmouth! Editor-in-chief of Bitcoin, the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
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