Bitcoin Bull Tim Draper says 1 BTC will be worth 2 Million or more

Must Read

Price Analysis of BTC, ETH, XRP, LTC, BCH: 17th September

As we enter the third week of this month, we see the price trends change for every cryptocurrency at...

QuadrigaCX updates: Canadian Tax Authority digging up graves of the doomed crypto exchange

The unexpected death of Gerald Cotten, CEO of QuadrigaCX was a shocker for everyone. But things escalated quickly when...

Bankera launches a global crypto-backed lending solution

The team behind Bankera, which is building the bank for the blockchain era, has announced the release of its...

Crypto fan and investor Tim Draper, who stood out as truly newsworthy over the crypto world when he obtained the Silk Road bitcoins from the US Marshals has made the most bullish crypto and Bitcoin conjectures ever. He is requiring the crypto market top to hit USD 80 trillion inside 15 years, which infers a price for each Bitcoin of USD 2 million or more.

Draper says with respect to crypto,

“The web began similarly, it came in enormous waves and afterward it sort of came slamming down, and afterward the following wave comes thought however considerably greater, and I presume a similar thing will go ahead here. I believe it will have such a transformative impact on businesses that we never at any point envisioned would be transformable. The web followed ventures that were 10-100 billion USD markets, cryptocurrency will follow trillion USD markets – these are fund, social insurance and protection, managing an account and speculation saving money, and governments”.

Fundamentally, Draper is stating cryptocurrency will supplant fiat currency, which is in concurrence with various crypto specialists. The aggregate sum of monetary orders, i.e. cash, on the planet is USD 7.6 trillion, and the aggregate sum of cash in addition to financial records, tight cash, is USD 36.8 trillion. The aggregate sum of wide cash, which is restricted cash in addition to bank accounts, time stores, and currency markets is USD 90.4 trillion. Hence, if the crypto market top hits USD 80 trillion like Tim Draper says, it implies crypto will be the overwhelming worldwide currency and hold essentially the majority of the cash on the planet.

In case of a fiat currency crumple, and the supplanting of fiat currency with crypto, a crypto market top regarding fiat won’t bode well any longer. On the off chance that crypto hits USD 80 trillion like Draper says, fiat monetary forms will be worthless to the point that crypto’s market top couldn’t be characterized as far as fiat any longer.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

5 comments

  1. […] Fundstrat’s Tom Lee’s 2018 forecast for $25,000 Bitcoin was reduced last month to $15,000 by year-end. (The cryptocurrency recently traded at about $3,650.) As foolish as that sounds, it was modest compared to the rest of the asylum. Michael Novogratz forecast that “$40,000 was possible by the end of 2018.” Kay Van-Petersen of Saxo Bank predicted Bitcoin would rise to $50,000 to $100,000 by the end of this year. John McAfee, the eccentric tech entrepreneur, has called for $1 million Bitcoin by 2020. Analogizing crypto to the internet, Tim Draper doubles McAfee, coming in at $2 million. […]

Leave a reply

Please enter your comment!
Please enter your name here

Latest News

Price Analysis of BTC, ETH, XRP, LTC, BCH: 17th September

As we enter the third week of this month, we see the price trends change for every cryptocurrency at...

More Articles Like This