Billionaire Tim Draper: “People will move to Bitcoin after the COVID 19 crisis.” Explain why


Venture Capital (VC) billionaire and investor Tim Draper is convinced of ite Bitcoin and crypto will emerge stronger after the COVID-19 pandemic. Interview with InnMind, explained why “people will move towards Bitcoin after the crisis ”.


The billionaire and prominent venture capitalist Tim Draper is completely convinced of something: The world’s governments are printing money to cushion the blow from the pandemic COVID-19 could make people Take refuge in Bitcoin (BTC) As soon as the storm is over.

This emerges from an interview that Draper offered to the company InnMindThe investor hopes that the geographic boundaries will no longer make sense after the end of the pandemic emergency. Stimulate the introduction of cryptocurrencies without friction.

Tim Draper, Bitcoin y COVID-19

During the quarantine, the company, which connects investors to startups looking for funding worldwide, spoke to Draper. about the COVID-19 coronavirus pandemic and its impact on business and start-ups.

In the interview, Draper shared his opinion and vision on how the current crisis will change the technological world, the venture capital market and business activities.

The billionaire investor who believes that Bitcoin could be a “National currency“He is a fairly active person in the crypto world. He recently said he would invest in crypto companies in India after the country’s Supreme Court lifted the nationwide ban on crypto in March.

Unfortunate statement

Depending on the medium U.TodayThe billionaire investor was publicly scrutinized after his controversial tweet on March 14:

Fear is much worse than the virus. Governments are wrong. Stay open to business. If not, many more people will die from an economy that has continued to crash as a result of the virus. #crown #dustbowl #food #clothes #help

His message, which is also from “Bitcoin JesusVer Roger Ver, didn’t sit well to those who were concerned about the pandemic contagion curve.

In his last interview, Draper reiterated his previous tweet and claimed that governments “draconian measures“” Currently, almost 4 billion people worldwide are blocked to prevent the spread of the deadly disease.

Bitcoin vs Fiat money printing

The venture capitalist who said that before “Bitcoin It is a superior currency that frees people“He pointed out that the same governments that have essentially destroyed the world economy offer a monetary incentive to save them.

“”And then they’ll print all that money to try and get the economy back after basically wiping it out. And now if they try to get it back, they’ll be flooded with a lot of money, and that money will be worth less and less“Said Draper, who doesn’t trust the current banking system. This, according to the investor, it will make people ask if they want dollars or not Bitcoin.

Previously, he believed that crypto and not the world’s governments would save the day after this crisis. He also said that millennials should invest Bitcoin.

As reported DailyBitcoinThe U.S. Federal Reserve recently launched unlimited quantitative easing to support the virus-fueled economy. Among other things, the US currency company has brought interest rates close to zero, spent $ 6 trillion on the economy, and plans to make direct payments to every American to alleviate the crises due to COVID-19.

Who is tim draper?

The Silicon Valley billionaire is a world-famous venture investor from the Draper dynasty. His grandfather was the first venture investor in Silicon Valley and is the founder of Draper VC & Draper University and a group of other venture capital organizations, crypto and blockchain believers. During his career, Draper faced three global crises and gained a deep understanding of the business and economic environment, he said. InnMind.

In March 2019, Draper advised the then Argentine President Mauricio Macri: “You have to replace the bitcoin with the peso“”

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Sources: Youtube, U.Today, U.Today (2), Twitter, Archive of DailyBitcoin.

Report by Arnaldo Ochoa / DailyBitcoin.


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