Crypto Currency News

Tim Draper: “People would rather have Bitcoin than fiat currency”

The prestigious investor highlighted the leading crypto currency amid the price correction.

Amid a sharp decline in the price of Bitcoin (BTC) – over 20% – renowned venture capitalist Tim Draper highlighted the potential of the leading crypto currency and suggested that governments around the world could compete “for attention and money. Of its citizens”.

The prestigious businessman, a benchmark in the crypto ecosystem, urged legislators around the world to advance on new regulatory frameworks for digital assets, since the advancement of the population towards them is inevitable. Crypto currencies, according to Draper, have given many people the possibility to join a financial system that for years relegated them with its conventional mechanisms.

In a virtual conference for Collision, Draper explained that national governments have in their hands the power to “improve people’s lives.” Imagining a scenario where they don’t, people will “just move to another place.”

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The investor assured that Bitcoin has characteristics that facilitate the financial system: “It is a global currency; it does not care where the borders are. It is not linked to one nationality or another”.

Finally, Draper dedicated part of his lecture to talk about the representation of genders within the ecosystem. “It turns out that only one of the 14 Bitcoin wallets is owned by a woman,” stressed the investor, noting that gender controls 85% of retail spending in the United States. This underrepresentation is also consolidated in the latest report from the Gemini exchange, which found that there are currently more women than men in the American power interested in entering the ecosystem.

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