If billionaire and Bitcoin investor Tim Draper make an effort, Bitcoin’s spectacular bullfight will continue soon. Draper is confident: Bitcoin will reach $ 250,000 by 2023 at the latest. Although he achieved the forecast in 2019, he has not moved away from it. In a recent interview, he emphasizes, “I make my predictions and stick to them.” Now he has also revealed what developments he thinks could bring BTC into six-figure prices.
BTC is changing society
In an interview with top trader Scott Melker, Draper explains his belief that cryptocurrencies have implications far beyond the financial world. That’s why the American sees the price of Bitcoin rising steadily: The No. 1 crypto currency can change society and find its way into every possible area of everyday life.
The venture capitalist explains:
“We have a combination of technologies that change not only banking but also finance. I can imagine a time when I just raise a fund in Bitcoin, I invest everything in Bitcoin, I let companies pay employees and suppliers everything in Bitcoin, this is all a “fenced garden” where taxes are deducted … in Bitcoin. “
According to Draper, all of this can be done without difficulty. The aforementioned “Walled Garden” (closed system) requires no accounting, no auditing, no accounting, no rights – anything can happen in this system “because the block chain keeps a complete record.”
Cryptocurrencies as a government tool
Draper also predicts that governments around the world could benefit from Bitcoin and smart contracts. Although it is not entirely clear what he means, because smart contracts are currently based mainly on Ethereum run. Bitcoin, the largest and best-known cryptocurrency, does not provide support for complex smart contracts. Simple contracts that can be implemented with Bitcoin are considered cumbersome to plan and very expensive to implement.
Draper continues to talk about the fact that numerous aspects of government could be outsourced to Bitcoin through smart contracts:
“What is a government like a bunch of insurance companies that are merged? This government can also be much leaner. All these insurance programs – health insurance and accident insurance, unemployment insurance and social security and pensions, social insurance – are all insurance programs. You can put these in a smart deal with neit, are perfectly fair, and there are no people who can get in the way. “
The next big area that Bitcoin will change is healthcare, according to Draper. The billionaire is currently undergoing a major change:
“Part of this has to do with putting your health information on a blockchain, but a lot of it gets everything digital. You can perform your therapy and diagnostics in digital format. “
But: Is Draper right? It is already foreseeable that both blockchain technology and smart contracts can have a significant impact on the digital society. However, it is questionable whether Bitcoin will be able to initiate changes in addition to its characteristics as a stock of value and means of payment – or whether this will mean rejecting alternative cryptocurrencies such as Ethereum (purchased from eToro or Libertex) will be.
You can watch the entire interview here Look.