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Billionaire Tim Draper: In 5 Years, Only Criminals will Still Use Fiat

By Jenny Aurora | February 22, 2019
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Billionaire Tim Draper: In 5 Years, Only Criminals will Still Use Fiat

Billionaire investor Tim Draper predicts that within the next five years crypto will become the universal currency such that only criminals will be the ones left using fiat.

Tim Draper is no stranger to making such colorful comments. He made this latest remark in an interview with Fox Business (Feb 18) on the same day that Bitcoin nearly breached the $4000 mark.

“The criminals will still want to operate with cash, because they catch everybody who is trying to use Bitcoin,” he said.

Draper doubts the security of his fiat money being in the bank while nobody has managed to hack Bitcoin’s blockchain.

“My bank is constantly under a hack attack,” he added.

Back in August 2018, an agent of the US Drug Enforcement Administration (DEA) had also said that criminals using crypto would be easier to track through the blockchain.

Draper’s point of view also recalls a similar opinion by young Bitcoin millionaire Jeremy Gardner, who has accused the current financial system before of providing gaps for terrorism and crime while praising blockchain technology for its security efficiency.

In April last year, Draper made a prediction that Bitcoin will trade as high as $250,000 per coin by 2022. He even reaffirmed the statement seven months later.

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