Bitcoin (BTC) Will Be the Currency of the Future, Predicts Legendary Investor Tim Draper

Timothy ‘Tim’ Draper, the legendary Silicon Valley investor and crypto enthusiast, said that Bitcoin is still “cheap” even as it crossed record $90,000 level last week.

Silicon Valley venture capitalist Tim Draper has said that Bitcoin is still “cheap” despite crossing the record $90,000 mark last week. He predicts that the token will become the currency of the future, enabling people to buy food, clothing, shelter, and even pay taxes in Bitcoin.

“Bitcoin is going to be the currency of the future. I don't know if it's five years from now, 10 years from now, when it's going to be so. But there will be a moment in time when you can buy your food, your clothing, your shelter, all in Bitcoin. Pay your taxes in Bitcoin. One day you would say, 'Why do I want government currency in my wallet?... I think I'll just go with Bitcoin.' When that moment happens, there'll be runs on the banks,” Draper told Moneycontrol during his recent visit to India.

Draper is currently traveling across six cities in the country to shoot the latest season of his popular startup pitching show ‘Meet the Drapers’ in partnership with TiE Mumbai.

An early believer in crypto, Draper has been investing in it for over a decade now. In 2014, he was the sole winner of an auction bidding for 30,000 Bitcoins organized by the US Marshals Service.

To date, he has invested in over 50 crypto companies and led investments in Coinbase, Ledger, Tezos, and Bancor, among others. Draper is also an early investor in tech companies like Tesla, SpaceX, Hotmail, Baidu, and Robinhood.

Bitcoin and other crypto tokens have been rallying for the past couple of months on the back of speculations regarding pro-crypto US presidential candidate Donald Trump winning the elections. After Trump came into power a few weeks ago, the prices of Bitcoin scaled to record highs, and the rally continued.

“When Bitcoin really becomes the dominant currency of the world, who's going to want a government currency? Then the stablecoins are interesting, but they're tied to the government currency… There's a gravitation towards Bitcoin. I would buy it at these levels because Bitcoin's worth $2 trillion or something? But the global currency economy is $100-plus trillion. So there's no reason Bitcoin doesn't go up about 30 times from here,” he said.

He predicts that this bullishness around Bitcoin will also drive creativity among crypto entrepreneurs in the US. “These things that all the entrepreneurs were trying to do, and then they realized they had to geofence the US, cutting the US customer out of it. Now they'll be able to do it again. And I think that's great.”

Crypto had a banner year globally in 2024, with the US SEC approving Bitcoin Exchange-Traded Funds (ETFs) and the subsequent Bitcoin halving event, which led to a price rally.

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