Famous venture capitalist and billionaire Tim Draper believes that within 10 years, bitcoin will replace the US dollar and become a standard currency. He also repeated his forecast: bitcoin will grow to $250 thousand by the end of 2025.
«10 years, something like that. Maybe a little less than», Draper said.
According to Draper, this will cause a massive withdrawal of funds from fiat banks and a global shift to the bitcoin standard as trust in governments diminishes and decentralized technologies replace the traditional banking system. This was especially evident when Silicon Valley Bank went bankrupt in 2023.
The closure of Silicon Valley Bank was accompanied by the closure of Signature Bank and liquidation of Silvergate Bank. All three financial institutions had ties to the digital asset industry and were affected by the collapse of the FTX crypto exchange.
Draper also sees stablecoins as a bridge to bitcoin, which will help people use digital currencies, but they are ultimately subject to inflation and will be worth less and less overtime.
Source: CoinDesk