In an interview with Foxbusiness, Tim Draper talked about how millennials have inherited the banking system from the older generation and how bitcoin can solve their retirement problems. The billionaire venture capitalist also talked about his early investments with Tesla.
“Future is global, not tribal.”
Tim Draper is a well-known bitcoin advocate, who has made some ambitious predictions about the leading cryptocurrency. When asked about how millennials should invest and plan for their retirements, Tim said that the millennials are standing at a point in history where they have the whole future of the world’s financial system ahead of them. He further said that today’s salaries don’t allow young people to be able to pay off the debt.
Millennials have become renters rather than buyers.
The billionaire venture capitalist remarked that putting away money, one penny at a time, is no longer working for the younger generation. Tim Draper believes that the millennials have become renters rather than buyers because they do not have any choice. At the time of writing, bitcoin is changing hands at just above $8,300, almost $300 down from yesterday. The short term prediction for bitcoin is bearish as the Chinese new year will be celebrated on 25th January.