If You’re a Millennial, Buy Bitcoin

Billionaire investor Tim Draper recommended millennials buy Bitcoin (BTC) during an interview with FOX Business published on Jan. 22.

Per the report, Draper believes that Bitcoin is of particular importance to millennials that are looking to set aside enough capital for retirement. He suggested that the traditional banking system is outdated:

“You look at Bitcoin and you say ‘Hey, this is great because it’s not my father’s Oldsmobile. Our banking system is the Oldsmobile, is the old Oldsmobile.’”

The faults of the banking system

Draper also blamed traditional finance for putting millennials into hundreds of thousands of dollars of debt. He explained that “with the current salaries, they can’t quite pay it off. It’s a really difficult time, and they’ve become renters rather than buyers because they have to.” He also insisted on the importance of being “able to move freely and move capital and goods freely throughout the world.”

Because of those reasons, Draper recommends…