- Tim Draper plans to strengthen the SEC to declare Bitcoin a ‘National Currency’
- Tim appears to be supporting Biden strongly for cross country trades and Visa
- He claims BTC will hit $250k by 2022; Cryptocurrency may overrule banks
The Venture Capitalist actively supports Joe Biden, says, “We stand with you, President.”
The New Administration led by Biden is expected to improvise the traditional currency laws and make Bitcoin a ‘National Currency.’ Tim also suggests strengthening the SEC.
Digital Currency ERA
The Billionaire claims Bitcoin to hit $250,000 by 2022. While Banks seem bothered, Bitcoin is gradually managing to become a Digital Store of Value. Meanwhile in the coming future, people may ultimately switch to digital currency.
Tim has made his predictions on Bitcoin after observing the increase of majority in crypto. He currently holds 30,000 BTC that he bought in 2014 for $19 Million which are now worth $1 Billion. BTC hit an all-time high of $41,941 on January 8, 2021. Post the ATH, it plunged to $34,500, while averaging a drop of -19.7%.
Dollar VS Bitcoin: Who Wins?
Tim has made his ideology crystal clear; he considers Bitcoin to grow as a National Currency replacing the US Dollar.
The total market capitalisation of Bitcoin has exceeded $650 Billion. Yet, for the crypto to become a national currency, it is crucial to fulfill few criterias: the central medium of exchange, store of value and function as a unit of account. Bitcoin may have checked some of thecriteria, a few of them are still left. We can expect the crypto to ultimately boom as the National Currency someday.
Strengthen the SEC, says Tim
The crypto world operates on Distributed Ledger Technology (DLT). The entire community can view a single piece of data; in such cases, cybersecurity and data privacy becomes exceptionally essential. The Security and Exchange Commission legislates these features to the mass. But there have been issues of Data Leak and Money Laundering in recent Years. Tim Draper concerns to bolster SEC. Suggests Joe Biden to lead and bolster SEC framework and regulations.
Tim Draper seems an epitome of humanity; he is not only a business leader but a philanthropist!
We are sorry that this post was not useful for you!
Let us improve this post!
Tell us how we can improve this post?