In a recent interview, Tim Draper stated that he continues to stick to his previous forecast for Bitcoin. The investor explained that even when BTC was at $4,000, he believed that the first cryptocurrency would trade at $250,000. Draper said that when making this forecast, he did not anticipate how fearful and conservative the United States would be. If the United States were more receptive to innovation, crypto companies could have conversations with them similar to those being conducted with the authorities in El Salvador, where Bitcoin is already recognized as legal tender, the crypto enthusiast noted.
“I still believe that BTC will reach $250,000 in the near future, and even exceed this figure. I think we will all witness this in the new year. It’s just that Bitcoin has been delayed a little due to the fears of the ossified US government,” Draper said.
The investor said that he is a big fan of smart contracts. As Draper put it, he is waiting for the moment when all the money can be invested in Bitcoin, as well as pay all employees and suppliers in Bitcoin, including taxes. Smart contracts will help you take all this into account and check without involving an accountant, auditor, transfer agent or tax law specialist. In this new economy there will be much less problems and disagreements, Draper is sure.
“I also think that stablecoins will become a bridge for mass adoption of Bitcoin. Stablecoins will work as long as the dollar is viable, and then when the dollar starts to dry up, people will switch to bitcoin,” the entrepreneur suggested.
Earlier, Tim Draper suggested that the Sri Lankan authorities follow the example of El Salvador and legalize Bitcoin to attract investment into the country. In 2020, Draper said that his investment portfolio includes not only Bitcoin, but also other cryptocurrencies.
Source: Bits

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