US venture capitalist and founder of Draper Fisher Jurvetson (DJF), Tim Draper, once again demonstrated his enthusiasm for Bitcoin. According to its statement to CNBC's Closing Bell hosts, Bitcoin is the best financial investment to quickly grow its money.
Bitcoin which is "in fact your best investment"
Throughout the conversation between Draper and Closing Bell's hosts, the venture capitalist discussed a number of topics, including Bitcoin and Fiduciary Currencies. He cited some notable advantages related to Bitcoin as the fact that it is famous, safe, decentralized, effective, useful, and open to all.
There is a major revolution now allowing a better currency - a safer, more decentralized, more efficient, more useful currency. It's global. It's open to everyone. He banks the unbanked. This allows people to send their money to their family in the Philippines or Mexico without much friction. It is a much better currency than fiduciary money.The illustration referring to Mexico recalls that about 11 million undocumented immigrants live in the United States . Many fear the opening of a US bank account because they could be reported to the immigration authorities. US banks require US identity documents, and a valid residence visa. As a result, immigrants, mainly Mexicans, do not provide banking services.
"No one has ever hacked the Bitcoin Blockchain"
Many Bitcoin supporters around the world share Draper's opinion, although there are opponents. Many skeptics set their sights on government-issued fiduciary money, a position that Draper calls stupid:
Right now, your banks are instantly assaulted. Bankers beat the air to prevent the act of theft, yet it still occurs against all odds. No one has ever hacked the Bitcoin Blockchain. It's the best investment of the moment. So, as a valuable stock, it's a good place.Draper points out that the traditional economy is collapsing, although it may seem foolish for skeptical investors and new technology neophytes such as Bitcoin and Blockchain.
If you are in Argentina or Venezuela or Nigeria, you know that your currency will fall by 30% each year as these countries tend to implode every year. And people are losing their fortune. If a portion of your fortune is allocated in Bitcoin, you will keep your fortune healthy. "
"To free oneself from political whims"
In conclusion, Draper wanted to convey the message that Bitcoin will continue. It's not a simple fashion, it's the future of the whole world. "Bitcoin has many uses and is a radical change for the future of the world. This is a major breakthrough, and I have no intention of us being sort of a world governed by our own currencies, influenced by politics, or that a government decides to divert a bunch of currencies. Thanks to Bitcoin, people will easily manage their business without being hindered by the whim of politicians.What do you think of Draper's recent statements regarding Bitcoin? Do you think the most popular cryptocurrency is a better store of value than fiat money? Tell us your opinion in the comments section below.