In less than a decade, Bitcoin will replace the domination of the US dollar and become the standard currency underlying the international economy, according to billionaire venture capital Tim Draper.
“10 years old, something like that. It may be a little less,” said draper in a large interview with Spotlight with Coindesk.
Draper has reiterated his prediction according to which Bitcoin will increase to $ 250,000 by the end of 2025, and that after a decade, it will be “infinity against the dollar because there will be no dollar”.
“Once I can buy my food, my clothes, my shelter, pay my taxes, all in bitcoin and it’s a better way to collect taxes. Of course, there will be no reason to keep any [dollars] And Bitcoin will be the main source of possession of wealth, “said Draper.
“The good news here is that banks can now hold your bitcoin and fiduciary currency … But you don’t want to queue at banks trying to get your dollars out to put them in Bitcoin when there is a transformation.”
Draper warned that there will be a race on Fiat banks and a global passage to Bitcoin standard, because confidence in governments is declining and that decentralized technology replaces the traditional banking system. This was particularly obvious when the Silicon Valley Bank (“SVB”) collapsed in March 2023.
“I received calls from 15 companies, portfolio companies, and they all said that I cannot pay,” said Draper.
“So, each treasure of each company that I finance, I recommend having bitcoin with Fiat in the banks, so that when there are bank failures, or if people stop taking Fiat, they will be able to pay anyway.”
SVB firmness was followed by the collapse of the signature bank and preceded by the liquidation of Silvergate Bank. The three financial institutions had links with the digital asset industry and were affected by “contagion effects” following the failure of the Crypto FTX exchange, according to the Federal Deposit Insurance Corporation. But cryptographic companies have found evidence that their disappearance was accelerated by a secret government debanking campaign, known as the ChokePoint 2.0 operation, after a previous government effort to break the controversial but legal companies of the bank.
Draper considers Bitcoin as better technology and better software that will replace banks and the currency made by the government. At an early age, he learned that there was a precedent in the United States for the currency crisis when his father gave him a confederate bill of a million dollars which was essentially worthless.
“The Confederates lost the war for the union and there was a huge inflation in Confederate money and people paid a million dollars for only $ 1 union money,” said Draper. “Indeed, we are going through a similar period now.”
Bitcoin vs stablecoins
Draper is a Bitcoin maximalist who thinks that stablecoins are a bridge to bitcoin that on board people will use digital currencies, but ultimately, they are as imperfect as the governments that sanction them.
“The stablecoins are subject to inflation. They will swell if the government prints too much money. They will be worth less and less over time, while Bitcoin is not subject to this,” said Draper.
Even if the global tariff policies of US President Donald Trump go against draper’s belief in free trade, they accelerate his prediction that the US dollar will weaken. The dollar index has dropped almost 8% for one year to 99.96, its lowest level since April 2022. The Trump administration is largely supposed to analyze the means to devalue the dollar to make exports of us more competitive worldwide. Nevertheless, Draper hopes that the US government will negotiate samples so that business partners buy more American goods and will resume a free market.
In the United States, Draper is more confident with regard to innovation in national technology now than the Securities and Exchange Commission and other federal regulators are “more open to creativity” and have moved away from the practice of application regulations.
“Let’s start by communicating with animals”
The other technologies in which he is invested includes genetics. Its early investment in colossal biosciences made the headlines when the genetics laboratory created a new species of wolf desire and “woolly mice” edited by genes using a mixture of modified mutations on woolly mammoths. These efforts for “de-expanding” the species aim to restore the biological diversity of the earth, but Draper thinks that they will end up helping humans to communicate with animals.
“Dogs can feel 10,000 times as well as possible,” said Draper. “My theory is that it is generally when they are really happy and they love you, they sneeze on you. What they do is tell you a story, they sneeze you and then,”[Here] are all the things I have done. These are all the things I felt. “Draper believes that the progress of genetics and artificial intelligence will eventually decode the language of birds which” must have 500 different words for the wind “and a better understanding of the weather. Humans could also learn to talk to the ants about their population management.
“Let’s start by communicating with animals. I think it will be great and we get there,” said Draper. “It’s slow. It’s 50 years. “
As for artificial intelligence, the most cynical programmers warn that the AI will possibly reject humans as simple carbon bodies with limited use as energy sources, but Draper remains the perpetual optimist.
“I think humans will adapt,” he said.
When artificial intelligence replaces human work, people of drape trust people in a resistant way new jobs by their new productivity, will have more impact and “gain in the quality of life”. Draper believes that humans will eventually merge with AI by programming embryos and binding the human brain to WiFi and other technologies.
“I think it’s going to be incredibly incredible for someone today who is still alive in 50 years, because they are going to look back and say:” God, these poor, they were all stuck on the earth, just the earth, “said drape.” They had to really ask their phone knowledge instead of making their minds anticipate the need for knowledge. “
