The days of the US dollar are numbered, per Tim Draper, a renowned venture capital investor and a billionaire. Draper, in his latest interview, predicted the demise of the US dollar, stating that the future may not favor the currency well. As the world economy consistently pivots towards a multipolar currency world, here’s how the US dollar may continue to fall, overpowered by newer assets with solid backing and strategic plans.
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Draper Warns of US Dollar Demise
Draper, in his recent interview, shared how the US dollar is heading for its demise, overpowered by forces like Bitcoin and digital assets that are here to stay for the long haul. Draper later predicted BTC’s price for the year-end, adding that the asset has the potential to hit $250K by the end of 2025.
“The price of Bitcoin, I did say, will be $250,000 by the end of the year. But you go out ten years, and the answer is infinity against the dollar because there won’t be dollars. There won’t be a need to have a dollar.”
The seasoned venture capital investor later shared the reasoning for the same, adding how Bitcoin continues to add value to the system, making it easier for the world to transact and interact with.
“Once I can buy my food, my shelter, and my clothing and pay my taxes all in Bitcoin, it’s a better way to collect taxes. For sure. But then there won’t be any reason to hold onto any dollars because Bitcoin will be the primary source of owning wealth.
Draper Wants People to Ditch Gold: Here’s Why
Further in the interview, Draper shared how he’s been witnessing people buying gold due to the rising inflation fears. The billionaire later shared how he believes investing in gold is similar to going back to the dark ages, just because one cannot understand the new technology and the way it has evolved, drawing an analogy to Bitcoin’s status as digital gold.
“But I want to go into gold, and that is what people say. Oh, we have to go buy gold because we are afraid of inflation. It’s like I’m going back to the dark ages. Where I am riding a horse, or riding a buggy, because I’m afraid of electric cars or flying cars. It’s ridiculous. Progress moves forward; it doesn’t move backwards. So these people, they are trying to—oh, I am just going to buy gold. You’re not going to be able to use gold to buy coffee at Starbucks. But you are going to shave off some for each cappuccino. It makes no sense.” Draper boldly claimed
Furthermore, Draper shared his vision on Bitcoin, stating how BTC is the best source of ‘storing value.“
“Yeah, Bitcoin is currently the best source of storing value on earth, and it’s eventually going to be the currency that we all use.”
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