The legendary investor promises that in five years everyone will be using cryptocurrency

Tim Draper, an American billionaire who has invested in the Internet, bitcoin, Skype and Tesla, told CNBC his predictions for the future of bitcoin and blockchain technology. He believes that in five years no one will use fiat, other types of cryptocurrencies will also fade into the background and bitcoin will become the main means of payment.

Tim Draper was the first to predict, down to the day, when the price of Bitcoin would rise to $10,000. At an auction in 2014, Tim bought 30,000 bitcoins seized from the Silk Road trading platform, and still keeps them all.  

“When people ask me if I will sell my bitcoins, I say, “Why would I trade the future for the past?” says Draper.

Comparing investments over time and in different products, Tim noted that while the Internet has transformed information, blockchain technology will change almost every industry, including government. In addition, he believes that individual states will collapse and a group of international organizations will be created that will compete with each other in providing services to citizens.

“In five years, you won’t be able to buy coffee at Starbucks for dollars, and the barista will laugh at you for what you consider a small thing,” Tim jokes. I wonder if he knows that Starbucks is already using an app to process cryptocurrency payments?

When asked which is better to invest in, ICOs or existing cryptocurrencies, Draper clearly advises investing in bitcoin. In April, Draper plans to introduce Bootcamp software at his Draper University, encouraging learning and investing in bitcoin and other digital currencies. 

According to https://www.newsbtc.com