Tim Draper Says Bitcoin (BTC) Is 10 To 100 Times Bigger Than The Internet
Bitcoin is currently trading in the green and the most important coin in the market is priced at $9,626.30 on CMC.
Bitcoin has a bigger impact than the Internet, says Tim Draper
Tim Draper is still focused on the long-term trajectory of the actual technology that surrounds BTC and he addresses the reasons for which he believes that BTC and the blockchain tech will be able to transform entire industries.
He said that they will unleash a massive impact on society- he’s talking about a bigger impact than the Internet itself.
He’s an early investor in Skype, Tesla, Hotmail, Twitter, Coinbase and more.
Draper said that “When the internet came around, we were very excited and we funded a lot of companies, and the internet transformed communications and information and gaming and entertainment media.”
Draper continued and explained that now we have new technologies, and he believes that they start with Bitcoin -“this magic technology that has somehow allowed us to have a trusted, global currency that isn’t tied to any political force.”
He continued and said that BTC is “open, transparent, global, frictionless, and the technology that built Bitcoin also has other applications. For instance, the blockchain allows for a perfect ledger. It keeps perfect track of money, or it can also keep perfect track of data.”
We recommend that you check out the video to see what more Draper had to say on the subject.
Bitcoin, a safe haven for investors
In other news, we recently reported that Bitcoin’s recent fall in price might mean that the crypto is a safe haven.
Bitcoin’s price is definitely less volatile compared to how it was a couple of months ago.
Smaretreum raised a question and asked its readers whether this is enough to encourage investors to run the crypto in such times of strong economic uncertainty.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.