In an interview on April 6, Tim Draper confirms that he will join those who are confident that the Bitcoin era (BTC) has dawned.
The rapid worldwide spread of COVID-19 has marked before and after in every life, including the markets. The pandemic played a crucial role in the dramatic stock market crash this year.
In this way, the impact of COVID-19 on the global economy was fundamental. As has been reported, spending to save the global economy is $ 7 billion, and that number continues to grow.
The Bitcoin era has begun
We previously reported to CriptoTendencia about the desperate measures the US government and the Federal Reserve (FED) have taken to avoid the crisis.
At the moment, the promotion is based on printing a larger amount of money that is intended to support the stock market. In this way, Tim Draper commented: “They’ll print all that money to try to revive the economy after basically sinking it.”
And that is exactly what Draper ensures that flooding the economy with such money is less and less worth it. Basically, they will still have problems boosting the economy.
This undoubtedly makes Tim Draper a loyal Bitcoin believer.
Golden chance for Bitcoin
As a result, Draper suggests that many people turn to Bitcoin instead. This is mainly because BTC, like most cryptocurrencies, has a fixed offer that makes a fundamental difference between them and fiat currencies.
Basic economic theory suggests that this massive increase in the money supply will result in currency depreciation.
“This will be a really interesting time when people will say,” Why don’t I use Bitcoin? “I know there are only 21 million of them, and we don’t have to worry if a government is watering their currency down by the pressure of tons. Instead, we can use a currency that we all agree on, without friction , open, transparent and global. “Tim Draper says.
As a result, Draper concludes that more than ever, Bitcoin has the ability to thrive when people know and use its decentralized nature. This is how the Bitcoin era comes.
“It doesn’t matter whether you come from the USA, China or Russia or India or Europe or whatever, we are an open world and geographical boundaries will mean less and less.”