Tim Draper: Bitcoin is The Safest Place

The owner of an investment company, Draper Fisher Jurvetson, Tim Draper is one of the most important investment talents in America. He,  once again, made very positive statements about Bitcoin. Speaking about Bitcoin in a program he attended at CNBC, Draper claimed that Bitcoin is the best thing to invest right now.

Much Better than Money

In the CNBC program, “Closing Bell”, he explained the Bitcoin as the finest tool you can put your money into. He continued:

“There’s a major revolution taking place that is now allowing for a better currency — one that is more secure, that is decentralized, that is more effective, more useful. It’s global. It’s open to everyone. It banks the unbanked. It allows people to send their money to their families in the Philippines or in Mexico without any big friction. It is a far better currency than the fiat currency.”

Bitcoin cannot be hacked

Of course, not everyone agrees with Draper’s comments on Bitcoin. There are also those who have doubts about Bitcoin or who have been skeptical of Bitcoin since the very beginning. Draper specifically emphasized that he did not participate in these people’s comments, although some people still say it is a big boost for state-funded nominal money and continue to do everything for the rest of the traditional banking industry.

Referring to the fiat currencies in the countries with trouble economies, Draper recently used the following expressions:

“If you’re in Argentina or Venezuela or Nigeria you know that your currency is going to fall 30 percent every year, because, I mean, those countries tend to implode about every year. And people lose their fortune. Well, if part of your fortune is put into bitcoin, you’re not going to lose your fortune.”

 Staying Out of Political Debates

Noting that Bitcoin is not influenced by political developments, Draper said Bitcoin can be considered as “the future of the world”. He commented;

“There are many many reasons [and] many many uses. […] This is going to be a major change in the future of the world. It’s a major breakthrough and I can’t wait for us to be sort of one world with our currencies as opposed to having it tied to some political influence or another, or some government just decides to inflate or decides that they’re just going to take a bunch of currency. This is a great opportunity for the people to run their businesses unfettered by political whims”

Is Draper sincere or is he just appealing to the crowd would depend on your personal opinion, of course.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.