Venture Capitalist Tim Draper Holds Strong to Bitcoin as Dominance Rises

Despite the tumbling state of the crypto market and the sharp decrease in Bitcoin price, venture capitalist and permabull Tim Draper remains overly positive on the future of cryptocurrencies. Meanwhile, Bitcoin’s dominance has been increasing since the first week of November.

Draper: Clinging to Old Currencies Is a Mistake

Speaking to Mike Green of Thiel Macro on the sidelines of World Crypto Con in Las Vegas earlier this month, venture capitalist and cryptocurrency investor Tim Draper predicted that digital currencies will eventually make up as much as two-thirds of the entire world’s currency value.

He also outlined that cryptocurrencies are frictionless and cheaper to use, which alone should be enough for widespread adoption.

Down the road, when we can easily spend, or invest, or do whatever we want with cryptocurrencies—they’re frictionless, they cost you less. […] I mean, just by that alone, just that they cost you less, it’s going to be better for people. And so…