Tim Draper: “The coronavirus pandemic could be a turning point for Bitcoin”

The coronavirus pandemic has had a major impact on traditional financial markets, but venture capitalist Tim Draperbelieves that innovative technologies like Bitcoin could benefit from this situation.

In an interview, Tim Draper expressedskepticism regarding the “printing press” launched by states to combat the consequences of coronavirus. He emphasized that the more cash “splashes out” onto the market, the less it will cost. And this will be a great time for the public to pay attention to Bitcoin, because the first cryptocurrency has a limited supply.

“It will be very interesting when people startsay, “Hey, why don't I just use bitcoins?” I know very well that the maximum number of bitcoins is 21 million, and I do not need to worry that the government will print a ton of currency and depreciate it. We can simply use Bitcoin as a currency, because it is already part of the economy, it is easy to use, open, global and transparent, ”said Draper.

Venture investor believes that in the futurenot only cryptocurrencies, but also states will compete in the “virtual space”. And this will lead to the fact that citizens of any country in the world will be able to choose a means of payment of another country and use it. “Geographic boundaries will mean less and less,” concluded Draper.

Back in mid-March, a cryptocurrency enthusiast said that Bitcoin would become the world’s “lifesaver” after the crisis was over.

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