Leading venture capitalist Tim Draper Weighed the financial advantages and disadvantages of Bitcoin and the US dollar. He said that BTC would have more value than USD in the future as confidence in Fiat currencies erodes. The Federal Reserve is to print billions of bills every year and drive them to circulation both in the home country and abroad. The US dollar imported finances its deficits while other countries bear the risk of inflation through it.
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Venture Capitalist explains Bitcoin has more power than the US dollar
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Venture Capitalist added that Bitcoin and the distrust of the US dollar make BTC a reliable asset. “Bitcoin, on the other hand, will continue to have open and transparent record holding and be easy to store,” He was unremitting.
The analyst also emphasized gold and dismissed that it could replace Bitcoin and the US dollar. The gold standard -based function in the economy is history, he said which indicates that the future is BTC. “And forget about gold. Gold does not play in the same league as Bitcoin. It has real challenges around storage and transport.”
Draper warned that when the US financial system is broken down and people rush to the banks for cash, those who have Bitcoin could control the roof. “So if the system breaks down, you do not want to be the one who clings to withdraw cash from the bank or hammer gold in your room. You want enough bitcoin to keep you and your family for six months to a year. Or, if hyperinflation happens, that bitcoin may be much longer,” He summarized it.