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Tim Draper on the Current State of Bitcoin (BTC)

Tim Draper on the Current State of Bitcoin (BTC)

Tim Draper, the venture capitalist investor, made a prediction that crypto capitalization will hit over $80 trillion in the next decade and a half, as reported by DealStreetAsia.

Draper spoke that the PE-VC Summit 2018 hosted by the same news outlet in Singapore and argued that the slide in the market in recent months is because people who haven’t adopted digital currencies yet as a new asset. He said that once people become familiar with it, it would transform industries worldwide.

He then talks about the current state of the market versus the early days of the Internet:

“I think it’s going to have such a transformative effect on industries that we never even imagined would be transformable. 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.”

Brian Kelly of CNBC’s Fast Money also compared crypto to the ‘net in the 80s and pointed out that BTC is still in very early stages of adoption and development. Kelly asl said he used to see crypto as comparable to the ‘net in 1995 and now he has a better understanding:

“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 (with Bitcoin).”

“I think this technology is going to work, it’s going to be game-changing, but it’s very early days, so we can have this massive volatility.”

Been in the game for 2 years but I still consider myself a rookie. There’s way too much info out there for anyone to comprehend, so I try to get only the best news on cryptoculture and new currency that’s coming out in the world of Bitcoin and cryptocurrency. I’m here to share my thoughts on what could be the answers to many of the world’s financial issues. Contact me with tips!

Disclaimer: Our authors may hold active positions in one or multiple cryptocurrencies discussed on this news portal. Opinions expressed at AWSMO are NOT investment advice and any investment in one or more cryptocurrencies may be high-risk and extremely volatile. Please due your due diligence before making any investments in any cryptocurrency. Your investments are your own risk and you assume full responsibility for your actions.

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