Tim Draper, an American venture capitalist, and famous bitcoin supporter and cryptocurrency enthusiast said that cryptocurrencies are going to succeed while fiat currencies are doomed to failure, according to an interview with Ran NeuNer, the CEO of OnChain Capital at Crypto Invest Summit in Los Angeles said that
Draper also noted that he is looking at this industry as a long-term transformational tool for the next five years implying that he doesn’t focus on the day-to-day price action. He also said that there will be no need to use political (fiat) currency again due to the fact that crypto assets are decentralized and frictionless.
At the same time, Draper pointed out that Bakkt’s physically-backed Bitcoin (BTC) futures launch will boost the bitcoin market but will not make it less decentralised.
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