Tim Draper on CNBC says current Libra discussion brings Bitcoin "to light"

20 Jul, 2019
by David Borman
Tim Draper on CNBC says current Libra discussion brings Bitcoin to light

It's being reported by The Daily Hodl that recently Tim Draper was on CNBC to discuss the controversy surrounding Facebook's Libra and how it affects Bitcoin. Draper is of the mindset that this discussion will only help bring more people to Bitcoin than ever before.

Draper, who has famously predicted that Bitcoin will reach $250,000 by the year 2023, spoke on CNBC that as more institutions learn about digital assets, more will see that Bitcoin is still the original and best the space has to offer. The current Libra discussion simply highlights this point. Draper elaborates:

"Actually, it’s bringing it to light. It’s good to have people talk about it. Because the more they talk about it, the more they realize how important Bitcoin is going to be for the planet, for all of us. We won’t have to pay 2.5% to 4% every time we swipe a credit card. We’re going to have an open currency that we can move from place to place easily.

I think we’re all going to be better off once people start to really understand what’s going on. This is one of the best things that’s ever happened to us. It’s one of the greatest opportunities we’ve ever had. And so Bitcoin and the decentralization of the world and the opening of the world are going to be terrific for all of us."

He then goes on to explain that other crypto projects have their own places, but the future is a Bitcoin environment. Draper also touches on issues with regulations, and how a lack of clarity is affecting the United States right now:

"I think all these other cryptos are bridges to where we have a Bitcoin environment. And I think the governments are all trying to figure it out. It turns out that our government has a lot of heavy regulators and they’re all trying to get involved here. And that’s slowing down the US.

Why is Libra in Switzerland? Why did all these other cryptocurrencies get started in Gibraltar or Malta or somewhere else? It’s because we have so many regulators and so many people getting involved before we’re able to innovate. I’m afraid that all this incredible innovation that’s happening around Bitcoin, the blockchain, smart contracts, open node, all these extraordinary things are happening out there and they’re going to go to other countries if we don’t open up."

Is Draper correct that the Libra will continue to boost Bitcoin? Stick with Chepicap for all updates!

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